New York, United States , Nov. 23, 2023 (GLOBE NEWSWIRE) -- The Global Sustainable Pharmaceutical Packaging Market Size to grow from USD 70.4 Billion in 2022 to USD 221.6 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 16.1% during the forecast period.
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The employment of ecologically and socially conscious packaging materials, designs, and processes by the pharmaceutical business is referred to as "sustainable pharmaceutical packaging". Lessening the negative environmental effects of packing, such as excessive waste generation, energy use, and resource depletion, is the goal. Sustainable pharmaceutical packaging uses a range of strategies and techniques to lessen the negative effects on the environment while preserving the quality and safety of the products. Choose packaging materials that are recyclable, biodegradable, or made using renewable resources. Choose eco-friendly substitutes instead of single-use plastics, such as glass, paper, and plant-based polymers. Aim for straightforward packaging concepts that nonetheless provide the contents with adequate protection. Using less packing material could lead to lower garbage output and transportation costs. The need of recycling and properly discarding pharmaceutical packaging should be made clear to customers. With the assistance of clear labeling and information, consumers may make more environmentally friendly selections.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Sustainable Pharmaceutical Packaging Market Size, Share, and COVID-19 Impact By Material (Plastic, Paper And Cardboard, Glass), By Sustainability (Recyclable, Reusable, Biodegradable),, by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.
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Material Insights
Plastic segment is dominating the market over the forecast period
On the basis of material, the global sustainable pharmaceutical packaging market is segmented into plastic, paper and cardboard, glass, and metal. Among these, the plastic segment is dominating the market with the largest market share over the forecast period. The development of bioplastics and biobased polymers was quickening. These products are manufactured from sustainable resources and can be composted or biodegraded. They offered a greener substitute for conventional plastics, particularly for single-use items like blister packs and sachets. Recycled plastics are also being used more frequently in pharmaceutical packaging. In order to promote a circular economy and reduce the demand for virgin plastics, recycled content is added to packaging materials. Utilizing less material while maintaining product protection is now achievable thanks to advancements in plastic package design. Lightweighting, which comprises using thinner plastic materials, lessens the environmental impact of plastic packaging. Hybrid materials, which combine plastics with other green materials like paper or plant-based materials, were being researched by several businesses.
Sustainability Insights
Biodegradable packaging segment holds the highest market share over the forecast period
Based on sustainability, the global sustainable pharmaceutical packaging market is segmented into recyclable, reusable, and biodegradable. Among these, the biodegradable packaging segment holds the highest market share over the forecast period. As environmental awareness of plastic pollution has grown, so has the desire for biodegradable alternatives. Utilizing biodegradable polymers is one technique to reduce the persistence of plastics in ecosystems and rivers. Many areas and countries were putting regulations into place to reduce plastic waste and promote the use of biodegradable materials. This regulatory pressure encouraged pharmaceutical companies to consider biodegradable packaging options. A variety of pharmaceutical products can benefit from the strength, stability, and barrier protection that biodegradable materials were created to provide. This preserves the integrity of the finished product.
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Asia Pacific is dominating the market with the largest market share over the forecast period
Among all other regions, Asia Pacific is dominating the market with the largest market share over the forecast period. Consumer awareness of environmental issues and the harm packaging waste does to ecosystems was growing in the APAC region. This knowledge had an impact on consumer preferences and the need for medicinal products with environmentally friendly packaging. The pharmaceutical industry in the APAC region is growing as a result of factors such escalating healthcare expenses, population growth, and economic development. The demand for pharmaceutical packaging choices that is ecologically friendly was projected to rise as a result of this expansion. The APAC region has a sophisticated supply chain network with varying degrees of infrastructure and logistical capability. Flexible packaging solutions must function in a variety of supply chain environments. The APAC region was known for quickly embracing innovation and technology.
North America is witnessing the fastest market growth over the forecast period. North American consumers have been actively hunting for products with sustainable and environmentally friendly packaging. Pharmaceutical businesses have been compelled by this requirement to create more responsible packaging techniques in order to accommodate client demands. Many pharmaceutical companies in North America include sustainability as part of their corporate social responsibility (CSR) strategies. These companies are investing in environmentally friendly packaging strategies to reduce their negative environmental effects and improve consumer perception of their brands. With the growth of e-commerce in North America, there is a greater need for packaging that is both environmentally friendly and suitable for online sales.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Amcor Plc, Aptargroup, Inc., Becton, Dickinson and Company, Berry Global Inc., Catalent, Inc., CCL Industries, Inc., Comar, LLC, Drug Plastics Group, Gerresheimer AG, International Paper, Nipro Corporation, Owens Illinois Inc., Schott AG, Silgan Holdings Inc., Stevanato Group, Vetter Pharma International, West Pharmaceutical Services, Inc, and other key venders
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Recent Market Developments
In September 2022, In September 2022, Aptar Pharma unveiled a state-of-the-art dispensing device that is mono-material and entirely recyclable in conjunction with a PE or PET bottle.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Sustainable Pharmaceutical Packaging Market based on the below-mentioned segments:
Sustainable Pharmaceutical Packaging Market, Material Analysis
- Plastic
- Paper and cardboard
- Glass
- Metal
Sustainable Pharmaceutical Packaging Market, Sustainability Analysis
- Recyclable
- Reusable
- Biodegradable
Sustainable Pharmaceutical Packaging Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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