Sustainable Packaging Materials for Pharmaceuticals: Market Research and Growth Opportunities
The pharmaceutical industry plays a crucial role in improving healthcare outcomes worldwide. However, the growing concern for environmental sustainability has brought the need for eco-friendly packaging solutions to the forefront. The sustainable pharmaceutical packaging market has emerged as a promising avenue, addressing both the industry's requirements for safety and preservation, as well as the global demand for reducing waste and carbon footprint.
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. The growing awareness about environmental sustainability and the need to reduce waste has led to an increase in demand for sustainable packaging in the pharmaceutical industry. Also Governments around the world are implementing regulations to reduce the environmental impact of packaging and to promote the use of sustainable packaging materials are fueling the demand for sustainable pharmaceutical packaging market.
Browse 227 market data Tables and 45 Figures spread through 286 Pages and in-depth TOC on "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"
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This market research report article highlights the importance of sustainable packaging in the pharmaceutical sector and its key growth drivers.
- Need for Sustainability:
The pharmaceutical industry is shifting towards sustainable packaging to minimize waste and carbon footprint. Optimized production processes and biodegradable materials help reduce environmental impact.
- Environmental Benefits:
Sustainable packaging reduces waste generation and carbon emissions, contributing to a cleaner environment. Biodegradable materials and eco-friendly production techniques play a vital role in achieving these benefits.
- Innovative Materials and Technologies:
Innovative materials like bio-based plastics and water-based coatings are gaining popularity. Mushroom-based packaging and seaweed-based films offer additional sustainable alternatives.
- Improved Safety and Convenience:
Sustainable packaging ensures product integrity, promotes safe usage, and offers user-friendly features. It enhances patient safety, convenience, and medication adherence.
- Regulatory and Consumer Drivers:
Regulatory bodies and increasing consumer awareness drive the adoption of sustainable packaging in the pharmaceutical industry. Stricter regulations and growing demand for eco-friendly products are propelling this shift.
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Sustainable Pharmaceutical Packaging Market Key Players
The major market players 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). among others.
Gerresheimer AG is a leading company for medicine packaging, drug delivery devices, and providing solutions for pharma. The company is primarily engaged in the manufacturing and supply of glass and plastic packaging solutions for the global pharmaceutical and healthcare industries. It operates through three business segments, namely, plastics & devices, primary packaging glass, and advanced technologies. It conducts its pharmaceutical packaging business through its primary packaging glass and plastics & devices segments.
Based on packaging type, primary packaging is projected to register the highest CAGR during the forecast period.
Primary packaging in sustainable pharmaceutical packaging industry refers to the first layer of packaging that comes into direct contact with the drug product. The main goal is to provide protection and preservation of the product. Sustainable primary packaging materials aim to minimize environmental impact, reduce waste and conserve resources by using eco-friendly and biodegradable materials like paper, cellulose, or bioplastics. Additionally, pharmaceutical companies are adopting innovative packaging designs, such as lighter weight packaging and reducing the use of materials, to reduce waste and minimize their carbon footprint. The use of reusable and refillable packaging is also being explored as a way to reduce waste. Overall, sustainable primary packaging is a key aspect in the push towards a more environmentally responsible pharmaceutical industry.
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Based on region, South America is projected to register the second highest CAGR during the forecast period.
South America is a region that is increasingly focused on sustainability and the pharmaceutical industry is no exception. Pharmaceutical companies in South America are exploring innovative ways to reduce their environmental footprint and improve sustainability in their packaging. In recent years, there has been a growing interest in eco-friendly packaging options such as biodegradable plastics, recyclable plastics, paper-based packaging, and reusable containers. Additionally, the regulatory landscape in South America is becoming more stringent with regards to environmental protection and sustainability. Governments are imposing stricter regulations on packaging waste and sustainability practices, leading to a shift towards more sustainable packaging solutions. An increase in recycling collection processes for waste materials can lead to the growth of the sustainable pharmaceutical packaging market. This is because recycling can help to reduce the amount of waste generated by the pharmaceutical industry and promote the use of environmentally friendly packaging materials
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