SEATTLE, Aug. 10, 2021 (GLOBE NEWSWIRE) -- North America sachet packaging in the pharmaceuticals market was valued at US$ 406.1 million in 2019 and is expected to exhibit a CAGR of 5.3% during the forecast period (2020-2027).
Key Trends and Analysis of the North America Sachet Packaging in Pharmaceuticals Market:
OTC drugs enable healthcare system to utilize its limited resources on the diagnosis and treatment of more serious diseases and medical conditions like tooth decay and athlete's foot. Also, OTC drugs provide safe, effective, and accessible treatment for a range of conditions to consumers and their families. For instance, according to a report released by the U.S. Consumer Healthcare Products Association (CHPA) in 2019, OTC drugs retail sales in the U.S. was valued at US$ 35.2 billion in 2019, which increased to US$ 36.5 billion in 2020. Thus, growing demand for OTC drugs is expected to drive the demand for sachet packaging from pharmaceutical industry in North America.
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Key Market Takeaways:
North America sachet packaging in pharmaceuticals market is expected to exhibit a CAGR of 5.3% over the forecast period (2020-2027). This is attributed to key manufacturers focusing on expanding their product portfolio. For instance, in April 2021, Glenroy Inc. (a leading sustainable flexible packaging company) announced the launch of Glenroy Sustainable Packaging, its portfolio of sustainable flexible packaging to help brand owners in the food, pharmaceutical, pet food & treats, nutraceutical, personal care, and household products industries achieve their sustainability goals and address the global waste issue.
The target market players in North America have been focusing on innovations and launching of several packaging types. For instance, in April, Glenroy, Inc. launched a sustainable packaging in the market. With the launch of Glenroy sustainable packaging, the company aims to increase its portfolio of sustainable flexible packaging for various end-use industries such as food, pharmaceutical, pet food & treats, nutraceutical, personal care, and household products.
Competitive Landscape:
Major players operating in the North America sachet packaging in pharmaceuticals market include Ahlstrom-Munksjo, Amcor plc, American Flexpack, Constantia Flexibles, Glenroy Inc., Multi-Pack Solutions LLC, Ropack, Inc., Sharp, Synchpack, and Tripak Pharmaceuticals.
Key players are focusing on expansion of its capacity to propel their target market growth. For instance, in April, 2019, Sharp invested US$ 21 million to expand its packaging capacity and capabilities at its facilities in Allentown and Conshohocken, Pennsylvania.
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Market Segmentation:
- North America Sachet Packaging in Pharmaceuticals Market, By Material Type:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Ethylene Vinyl Alcohol (EVOH)
- Others
- Aluminum Foils
- Paper
- Others
- Plastic
- North America Sachet Packaging in Pharmaceuticals Market, By Packaging Sizes:
- 01ml-10ml
- 11ml-20ml
- 21ml-30ml
- Others
- North America Sachet Packaging in Pharmaceuticals Market, By Application:
- OTC Drugs
- Health Beauty Products
- Others
- North America Sachet Packaging in Pharmaceuticals Market, By Country:
- North America
- U.S.
- Canada
- North America
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