New York, USA, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Child Resistance Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Child Resistance Packaging Market Information By Type, By End-Use, and by Region - Forecast till 2030”, the market is estimated to grow at a CAGR of 5.4% to reach USD 42.0 Billion by 2030.
Market Scope:
Specially designed child-resistant packaging has been created to protect kids away from dangerous and toxic products. Its primary goal has been to lower child mortality rates. Additionally, the child-resistant packaging was created with a design that makes it very difficult for children under the age of five. Child could open it with ease and come into contact with dangerous and hazardous materials.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 42.0 Billion |
| CAGR | 5.4% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By End-Use and By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The rising urbanization are the major factors |
| The increasing awareness among the people towards better packaging usages |
Competitive Dynamics:
The global market for child resistance packaging is expanding due to a number of important aspects, which also increases the potential and opportunities for major manufacturers and industry participants worldwide. Manufacturers and major players now have additional opportunities as a result of the stricter regulations that have been implemented for the specific packaging of dangerous goods in different regions. With the aid of important key players who are driving significant growth for the global market, the kid resistance packaging market is expanding. These significant key players are:
- Berk Company, LLC (U.S.)
- Sun Grown Packaging (U.S.)
- MJS Packaging Inc. (U.S.)
- MJS Packaging Inc. (U.S.)
- Kaufman Container (U.S.)
- Ecobliss B.V. (Netherlands)
- Amcor Limited (Australia)
- Bemis Company, Inc. (U.S.)
- WestRock Company (U.S.)
- Global Closure System (France)
Market USPS:
Market Drivers:
The main reasons propelling the growth of the child resistance packaging market are rising urbanization, rising pharmaceutical sector usage, and rising public awareness of better packaging utilization. Additionally, it is anticipated that the implementation of stricter regulations regarding some home items, such as medicines, chemicals and cleaning products, pharmaceutical sprays, and the packaging of dangerous goods, will propel the worldwide child resistance packaging market.
Due to their recyclable and compostable qualities, which are predicted to drive the child-resistant packaging industry, paper, metal, and fiber child-resistant packaging are in more demand than plastic for the packaging of medicines and alcohol. The market for child-resistant packaging is likely to be further stimulated by the rigorous control of children's healthcare by several regulatory agencies. Additionally, it is anticipated that the market for child-resistant packaging would develop due to the rise in the usage of pharmaceuticals, chemicals, and pharmaceutical products as a result of rising population.
In order to limit direct exposure to children, cosmetic personal care items are packaged in child-resistant packaging, which in turn serves as a development driver for this market. Additionally, the tobacco and cannabis industries' use of child-resistant packaging is anticipated to drive the market for this form of packaging. However, a lack of consumer knowledge regarding child-resistant packaging could stymie the market's expansion.
Market Restraints:
Due to the unprecedented COVID-19 and the rising expense of the worldwide product, the market for child resistance packaging may be severely constrained. As a result, the worldwide market is implementing a number of strategies to combat the new barriers and create a market for child resistance packaging over the forecast period. Due to the rising cost of packaging and the negative consequences of the world's products, market trends for kid resistance packaging could encounter difficulties.
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COVID-19 Analysis:
The child resistance packaging business was one of the industries that was impacted by the current COVID-19 epidemic, which has nearly universally spread. Due to the rising COVID virus outbreaks, several nations have placed societal limitations on their transportation, production, sales, labor, and many other areas in the first half of 2020. As a result, there was a temporary stoppage in the development of the world market. Additionally, the major market investors have left the global market.
Lockdowns brought on by the COVID-19 epidemic stopped the development of numerous items in the market for child-resistant packaging. In addition, with the development of COVID-19 vaccinations, the number of cases is anticipated to decline in the future. This resulted in the child-resistant packaging industries reopening at full capacity, which is anticipated to aid in the market's recovery by the end of 2022.
Market Segmentation:
By Type:
The special blister packaging segment is expected to contribute to the market's greater growth for kid resistance packaging during the anticipated timeframe.
By Application:
Due to laws for medication packaging and recent advancements in the pharmaceutical sector, the pharmaceuticals segment is anticipated to dominate the worldwide child resistant packaging market throughout the research period. Additionally, the adoption of strict restrictions by drug regulatory bodies and the healthcare sector are the main forces behind the expansion of the kid resistance packaging sector.
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Regional Analysis:
In an effort to corner the market, the European market is increasing its demand for child-resistant packaging. Due to the rising public awareness of the value of including child safety features in the goods of commercial sectors, the European market currently dominates the global market for child resistant packaging. Along with that, more people are adopting strict rules for the use of child-resistant packaging in various industries, which is boosting the global market in this area throughout the duration of the evaluation period.
In addition, the North American region is anticipated to have the biggest child resistance packaging market size due to the rising use of child-resistant packaging in the chemical, pharmaceutical, and cosmetic & personal care industries in the United States. In order to address the high rates of child poisoning in the area, this region is currently demonstrating greater concern for the safety of children and adopting higher child resistance packaging, which is driving the expansion of the child resistance packaging market.
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