$146 Billion Sustainable Pharmaceutical Packaging Markets - Global Forecast to 2027 - Lucrative Opportunities with Growing Demand for Primary Pharmaceutical Packaging
DUBLIN, March 30, 2023 /PRNewswire/ -- The "Sustainable Pharmaceutical Packaging Market by Raw Material (Plastics, Paper & paperboard, Glass, Metal), Product Type, Process (Recyclable, Reusable, and Biodegradable), Packaging Type(Primary Packaging), and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Sustainable pharmaceutical packaging market size is projected to grow from USD 71.6 Billion in 2022 to USD 146.3 Billion by 2027, at a CAGR of 15.4% from 2022 to 2027.
Sustainable pharmaceutical packaging is an important aspect of the healthcare industry, as it protects the integrity of the medication and aims to reduce the environmental impact of packaging materials.
With an increasing focus on reducing waste and preserving natural resources, pharmaceutical companies are exploring new and innovative ways to create functional and eco-friendly packaging. This includes using recyclable materials, designing for easy recycling, and implementing packaging reduction strategies
Glass accounted for the third largest share amongst other raw materials in the pharmaceutical packaging market.
Glass is an amorphous and crystalline material with excellent transparency and chemical inertness. It is mainly used in the primary packaging of pharmaceutical drugs.
Various types of primary packaging, such as vials, ampoules, bottles, containers, and syringes, are made from glass. Glass is a permanent material that is infinitely recyclable and reusable, reducing waste and saving natural resources. This means that glass has the potential to be recycled over and over again without any loss of its intrinsic properties.
Permanent materials are perfect for maintaining a truly circular material loop. Due to the strength of their chemical bonds, permanent materials are not damaged by the recycling process and can stay in the recycling loop as long as they are properly collected, treated, and re-melted.
Secondary packaging to be the second largest packaging type in molded fiber pulp packaging during the forecast period.
Secondary packaging in sustainable pharmaceutical packaging refers to the outer packaging that encloses the primary packaging, which contains the actual medication.
It protects the primary packaging and provides information about the product, such as the dosage, expiration date, and manufacturer. Secondary packaging is also known as retail-ready packaging (RRP), shelf-ready packaging (SRP), or counter-top display units (CDUs). The packaging makes it easier for retailers to display and handle products.
Using sustainable materials in secondary packaging is becoming increasingly important in the pharmaceutical industry as companies aim to reduce their environmental impact.
Recyclable process accounted for the largest share of sustainable pharmaceutical packaging during the forecast period.
The use of recyclable plastics in the sustainable pharmaceutical packaging industry is becoming increasingly important as companies and consumers become more aware of the impact of packaging materials. Recyclable plastics, such as PET and HDPE, can be used to create packaging that is not only environmentally friendly but also cost-effective and safe for the storage and transportation of pharmaceutical products.
One of the main benefits of using recyclable plastics in pharmaceutical packaging is that it reduces the amount of waste that ends up in landfills. These materials can be easily collected, sorted, and recycled, which helps conserve natural resources and reduce the industry's carbon footprint.
Additionally, recyclable plastics are often lightweight, making them more cost-effective to transport and store. They also have good barrier properties that protect products from moisture, light, and other environmental factors
Europe is to be the second largest market for sustainable pharmaceutical packaging
The high demand for pharmaceutical packaging in the region can be attributed to the increasing research, production, and distribution of pharmaceuticals. Significant advancements in the field of medical biopharmaceuticals are further boosting the market in the region.
At present, consumers, manufacturers, retailers, advocacy groups, and governments across the region are encouraging environmentally friendly packaging thus contributing to the consistent growth of the sustainable pharmaceutical packaging industry in countries such as Germany, France, and the UK, owing to their environmentally-conscious consumers. All these factors are expected to fuel the demand for sustainable pharmaceutical packaging in the Europe region.
Competitive landscape
The key players in the sustainable pharmaceutical packaging market include Schott AG (Germany), Amcor PLC (Switzerland), AptarGroup, Inc (US), West Pharmaceutical Services, Inc. (US), Berry Global (US), Gerresheimer AG (Germany), Catalent, Inc (US), and WestRock (US)..
Premium Insights
- Emerging Economies to Offer Attractive Opportunities in Sustainable Pharmaceutical Packaging Market
- Plastics Segment to Register Highest CAGR from 2022 to 2027
- North America and Plastics Segment Accounted for Largest Shares
- Sustainable Pharmaceutical Packaging Market in India to Witness Highest CAGR
Market Dynamics
Drivers
- Government Initiatives for Sustainable Packaging
- Consumer Preference Toward Recyclable and Eco-Friendly Materials
- Downsizing of Packaging
- Breakthrough in New Technologies and Innovations
- High Growth in Generics and Biopharmaceuticals Markets
Restraints
- Poor Infrastructure Facilities for Recycling
- Lack of Awareness of Sustainability
- High Packaging Costs
Opportunities
- Growing Demand for Primary Pharmaceutical Packaging
Challenges
- Volatile Raw Material Prices
Technology Analysis
- Automated Recycling
- Emergence of Technologically Advanced Raw Materials
- Nanotechnology
- Packaging for Biologics
- Smart Packaging
- Anti-Counterfeit Packaging
- Other Smart Trends and Technologies
Case Study Analysis
- Opthalmic Squeeze Dispenser by Aptar Pharma to Contribute to Overall Esg Commitments
- Moisture Barrier Technology for Better Drug Delivery
- Custom Technology for Better Breathing
Value Chain Analysis
- Raw Material Suppliers
- R&D of Products
- Manufacturers
- Distributors
- End-users
- Post-Disposal Process
Company Profiles
Key Players
- Berry Global Inc.
- Gerresheimer AG
- Amcor PLC
- Schott AG
- Aptargroup, Inc.
- Becton, Dickinson and Company
- Westrock Company
- Nipro Corporation
- Catalent, Inc.
- Sealed Air Corporation
- West Pharmaceutical Services, Inc.
Other Players
- Alpla Werke Alwin Lehner GmbH & Co KG
- Ardagh Group SA
- Ccl Industries Inc.
- Frank Noe Egypt Ltd.
- Gaplast GmbH
- Lonza Group Ltd.
- Mondi Group
- Nolato Ab
- Origin Pharma Packaging
- Comar
- Bilcare Limited
- Sgd Pharma
- Silgan Holdings Inc.
- Vetter Pharma International GmbH
For more information about this report visit https://www.researchandmarkets.com/r/cxo7pl
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