pharmaceutical packaging market share Dynamics

The pharmaceutical packaging market is projected to be worth USD 265.17 Billion by 2030, registering a CAGR of 9.5% during the forecast period (2022–2030)

The growing pharmaceutical industry is predicted to drive the market, particularly in several emerging economies, including China, India, and Brazil, due to an increasing population, rising disposable incomes, and a growing emphasis on increasing life expectancy. In addition, the increasing emphasis of pharmaceutical packaging manufacturers on sustainability with the use of biodegradable and recyclable materials is likely to further fuel growth. In addition, increasing demand for convenient packaging forms, such as prefilled syringes and auto-injectors, is expected to generate growth opportunities for companies operating in the market.

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Market Segmentation

The pharmaceutical packaging market share has been segmented based on material, type, packaging, and application.

By material, the global pharmaceutical packaging market has been segmented into plastic, paper paperboard, glass, and others. The plastic segment is anticipated to lead the global market, owing to its barrier properties and chemical inertness. They can be used to create attractive packages with aesthetic appeal, which helps in promoting and marketing pharmaceutical products.

By packaging, the global pharmaceutical packaging market has been segmented into rigid packaging, flexible packaging, and semi-rigid packaging. The rigid packaging segment is anticipated to hold the maximum market share, owing to the protection of the products from biological contamination, physical damage, and external influences that can damage the properties of the products.

By application, the global pharmaceutical packaging market has been segmented into generic drugs, branded drugs, medical tools equipment, test kits, nutraceuticals, and others. The generic drugs segment is projected to hold the maximum market share. This is because government authorities in regions like North America and the Asia Pacific are making efforts to produce generic drugs with similar active ingredients, strengths, dosages, and routes of administration of a brand-name drug.

Regional Analysis

Region-wise, the global pharmaceutical packaging market has been segmented into North America, Europe, Asia Pacific (APAC), and the rest of the world.

North America is one of the regions where a number of major pharmaceutical packaging firms are headquartered. The growth of the market in the region can be attributed to the involvement of global market players who are expanding their presence in the region through strategic alliances with raw material suppliers. For example, in 2018, Hoffmann Neopac AG, a Swiss manufacturer of primary packaging for the pharmaceutical and cosmetics industries, set up a new manufacturing plant in the USA. In addition, the rising demand for lightweight and easily transportable packaging is growing the demand for pharmaceutical packaging in the regional market.

Key Players

Notable players in the global pharmaceutical packaging market are Amcor Limited (Australia) SCHOTT AG (Germany), Owens-Illinois Inc. (US), Sonoco Products Company (US), West Pharmaceutical Services, Inc. (US), WestRock Company (US), Berry Global Inc. (US), CCL Industries, Inc. (Canada), AVERY DENNISON CORPORATION (US) International Paper (US), Comar, LLC (US), Gerresheimer AG (Germany).

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