With the emergence and long-term Impact of COVID-19, Global Sustainable Pharmaceutical Packaging Market to reach USD 211.91 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Sustainable Pharmaceutical Packaging Market points towards a potential rise to USD 211.91 Billion by 2030. Sustainable pharmaceutical packaging involves adopting environmentally conscious practices throughout the packaging lifecycle of pharmaceutical products. This approach encompasses selecting eco-friendly materials, minimizing packaging volume and weight, prioritizing recyclability and biodegradability, and implementing energy-efficient manufacturing processes.
Innovations in design and technologies, adherence to regulations, consumer education, responsible supply chain practices, and life cycle assessments contribute to creating packaging solutions that balance product protection with reduced environmental impact. The aim is to foster a circular economy, minimize waste, and promote social responsibility within the pharmaceutical industry. The Sustainable Pharmaceutical Packaging Market is expanding because of factors such as the increase in the number of government initiatives for sustainable packaging, focus on downsizing packaging, along with increasing global consciousness about environmental issues and a growing commitment to sustainability.
Geographically, the global Sustainable Pharmaceutical Packaging market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the shift in consumer preferences toward recyclable and eco-friendly materials, as well as favorable governmental policies and regulations supporting sustainable packaging practices and environmental conservation. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years.
The growing emphasis on environmental protection, coupled with the robust expansion of the pharmaceutical industry are significantly propelling the market demand across the region. The region experiences rapid growth in the pharmaceutical sector driven by a sizable population and escalating healthcare expenditure. This has generated an increased need for sustainable packaging solutions. Companies in the region are channelling substantial investments into research and development to pioneer novel sustainable packaging options, catering to the rising demand from both consumers and healthcare providers.
The global Sustainable Pharmaceutical Packaging market is highly competitive owing to the presence of several key players such as Schott AG Amcor PLC AptarGroup Inc. West Pharmaceutical Services, Inc. Berry Global Group, Inc. Gerresheimer AG Catalent,Inc WestRock Stevanato Group Nipro Corporation, and others.
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Key findings of the study suggest:
- Global Sustainable Pharmaceutical Packaging Market is anticipated to grow with a healthy growth rate of more than 15.03% over the forecast period 2023-2030.
- In the Material segment, Plastic emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the shift in consumer preferences toward recyclable and eco-friendly materials, as well as favorable governmental policies and regulations supporting sustainable packaging practices and environmental conservation.
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Material:
- Plastic
- Paper and cardboard
- Glass
- Metal
By Sustainability:
- Recyclable
- Reusable
- Biodegradable
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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