Biodegradable Pharmaceutical Packaging Market Size, Share, Players, Emerging Trends, New Opportunity And Forecast 2032
The global biodegradable pharmaceutical packaging market size is slated to touch an appreciable value by 2032. The market is poised to expand at a notable CAGR over the forecast period.
Biodegradable packaging solutions are easily recyclable, reusable, and eco-friendly. The rising sustainable packaging demand and the enforcement of stringent government regulations and laws by government bodies are anticipated to impel industry expansion over the forthcoming years.
Fortune Business Insights provides this information in its research report, titled “Biodegradable Pharmaceutical Packaging Market, 2024-2032”.
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List of Key Players Mentioned in the Report:
- Gerresheimer AG (Germany)
- Berry Global (U.S.)
- DS Smith PLC (U.K.)
- Smurfit Kappa (Ireland)
- Schott AG (Germany)
- WestRock (U.S.)
- West Pharmaceutical Services (U.S.)
- Aptar Group Inc (U.S.)
- Mondi Group (U.K.)
- Drug Plastics Group (U.S.)
Segmentation:
Plastic Segment Holds Leading Share Due to Durability
Based on material, the market for biodegradable pharmaceutical packaging is fragmented into paper & paperboard, glass, plastic, and metal. The plastic segment holds a dominant market share owing to the durability, less weight, and enhanced protection during transportation and storage.
Bottles Segment Holds Major Share Owing to Escalating Product Usage for Storing Syrups
By product type, the market for biodegradable pharmaceutical packaging is subdivided into bottles, bags & pouches, sachets, blisters, vials & ampoules, and others. The bottles segment accounts for the largest market share. The segmental growth can be credited to the soaring product usage for storing syrups and liquid dosages.
Based on geography, the market for biodegradable pharmaceutical packaging has been analyzed across North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
Report Coverage:
The report gives an account of the key factors propelling the industry expansion. It further presents an overview of the latest market trends. It also provides an analysis of the market scenario based on numerous segments. The market has been studied on the basis of material, product type, and geography.
Drivers and Restraints:
Increasing Medicine Intake to Propel Industry Expansion
The biodegradable pharmaceutical packaging market growth is being driven by an upsurge in medicine intake owing to an increase in chronic diseases. Besides, there has been an increase in the demand for vitamin capsules & tablets and protein on account of a rising concern for health.
Nevertheless, the high costs associated with biodegradable packaging and the lack of infrastructure for product development could restrain the industry expansion to a certain extent.
Regional Insights:
North America Leads the Global Market Due to Rise in Technological Advancements
North America holds a dominant position in the global market. The regional growth can be credited to an upsurge in technical advancements and the presence of well-established pharmaceutical industries.
Asia Pacific biodegradable pharmaceutical packaging market share is set to expand at the fastest pace owing to the escalating number of pharmaceutical industries in the region.
Competitive Landscape:
Industry Players Launch New Products to Strengthen Market Share
Leading industry participants are centered on the launch of new products for outpacing their competitors. These initiatives are also focused on strengthening their market share. Additional steps adopted by biodegradable pharmaceutical packaging companies comprise merger agreements, acquisitions, and partnerships.
silicon tetrachloride market. Capacity expansion strategies are also being focused on by leading players to increase their production capacity and maximize revenue.
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Key Industry Development:
January 2023 – Aptar Pharma announced the launch of APF Futurity. The metal-free nasal spray is easily recyclable as it has polyolefin materials with recycling disruptors.
May 2022 – Bormioli Pharma announced the rollout of the EcoPositive label for sustainable packaging.
October 2020 – Softbox announced the launch of Tempcell ECO. The biodegradable packaging has been developed for the transportation of pharma products that are temperature-sensitive.
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