Chicago, Sept. 20, 2023 (GLOBE NEWSWIRE) -- 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% during the forecast period, as per the recent study by MarketsandMarkets™. Sustainable pharmaceutical packaging refers to the design and production of packaging materials for pharmaceutical products that are eco-friendly and helps to reduce waste. This can include the use of recyclable materials and the use of renewable energy in the production process. Sustainable packaging can also include features that make it easy for consumers to properly dispose of or recycle the packaging. Sustainable pharmaceutical packaging aims to minimize the environmental impact on packaging while still protecting the drug product from harsh environmental conditions (such as moisture, snow, and others) and ensure safety throughout its shelf life.
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Browse in-depth TOC on "Sustainable Pharmaceutical Packaging Market”
227 - Market Data Tables
45 - Figures
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List of Key Players in Sustainable Pharmaceutical Packaging Market:
- Schott AG (Germany)
- Amcor PLC (Switzerland)
- AptarGroup,Inc (US)
- West Pharmaceutical Services, Inc. (US)
- Berry Global (US)
- Gerresheimer AG (Germany)
- Catalent,Inc (US)
- WestRock (US)
Drivers, Opportunities and Challenges in Sustainable Pharmaceutical Packaging Market:
- Drivers: Consumer preference towards recyclable and eco-friendly materials
- Restraint: Increase in packaging cost
- Opportunity: Growing demand for primary pharmaceutical packaging
- Challenge: Fluctuation in prices of raw material
Key Findings of the Study:
- Based on raw material, metal is projected to register the third largest market share during the forecast period.
- Based on process, reusable is projected to register the third highest CAGR during the forecast period.
- Based on packaging type, primary packaging is projected to register the highest CAGR during the forecast period.
- Based on region, South America is projected to register the second highest CAGR during the forecast period.
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Recyclable process segment accounted for the largest share during forecast period
Recycled content packaging involves a process in which the waste packaging products are broken down and utilized to create a new product. It is a very effective method to minimize the waste generated from packaging products. Paper, metal, plastic, and glass are considered recycled materials. Retailers and brand owners are increasingly conscious of using recycled content in packaging manufacturing. This is because awareness about sustainability is increasing among consumers.
Primary packaging type segment is expected to grow at a highest CAGR during forecast period
Primary packaging refers to the material or container that directly holds the pharmaceutical product and is in direct contact with the commodity. Such packaging contains the finished or final products, called retail or consumer packaging. It is used to preserve, protect, and provide information to the end user. It is the total packaging that the end user will ultimately dispose of via reuse, recycling, landfill, or other disposal routes. Sustainable pharmaceutical packaging aims to reduce the environmental impact of packaging by using materials and methods that are less harmful to the environment.
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Paper & Paperboard raw material segment accounted for the second largest share of the market during forecast period
The paper-based pharmaceutical packaging industry provides renewable, recyclable, and sustainable packaging that is reliable and economically viable. Although paper is rarely used as a primary packaging material, paperboard materials remain a major part of secondary pharmaceutical packaging. Cartons, blister wallets, rigid boxes, and others are extensively used for pharmaceutical packaging because of greater surface area and improved display of products. The attributes of the paper substrate include its surface properties, color, brightness, opacity, basis weight, grain direction, tensile strength, and tearing strength. Paperboard sheets are cut, folded, and bonded into the appropriate shape. Corners may be strengthened depending on the need, and the material can be produced as set-up paperboard boxes, folding cartons, or trays. It offers comfort, sturdiness, and effective product protection
North America region accounted for the largest share of the sustainable pharmaceutical packaging market
North America is the largest market for sustainable pharmaceutical packaging due to a combination of factors such as government regulations, consumer demand for eco-friendly products, and the presence of major pharmaceutical companies in the region. The major companies producing pharmaceutical packaging in North America are Becton, Dickinson, and Company (BD), Berry Global, West Pharmaceutical Services, Aptar Group, and WestRock, among others. In this region, the US, Canada, and Mexico are the manufacturing hubs of pharmaceutical products.
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