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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The demand for sustainable pharmaceutical packaging has been steadily increasing in recent years due to various factors. Here are some key points to consider:
- Growing awareness of environmental concerns: There is an increasing global awareness of environmental issues, including the impact of traditional packaging materials on ecosystems. This has led to a rising demand for sustainable alternatives in various industries, including pharmaceuticals.
- Government regulations and initiatives: Governments and regulatory bodies are implementing stricter regulations and guidelines regarding packaging waste, recycling, and environmental sustainability. These regulations encourage pharmaceutical companies to adopt sustainable packaging solutions.
- Consumer preferences and corporate responsibility: Consumers are becoming more conscious of their purchasing decisions and are increasingly favoring products and brands that demonstrate environmentally responsible practices. Pharmaceutical companies recognize this shift and are investing in sustainable packaging options to meet consumer demand and enhance their corporate image.
- Cost-effectiveness and efficiency: Sustainable packaging solutions can often lead to cost savings in the long run. By optimizing packaging design and reducing material waste, pharmaceutical companies can improve their operational efficiency and potentially lower their overall packaging costs.
- Supply chain considerations: Pharmaceutical companies are recognizing the importance of sustainable practices throughout the entire supply chain, including packaging. Sustainable packaging can help reduce the carbon footprint associated with transportation and logistics, contributing to overall sustainability goals.
Sustainable Pharmaceutical Packaging Market Key Players
There are different players that operate in the sustainable pharmaceutical packaging market. 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. Various strategies, such as new product launch, expansion, and product development are adopted by several players to gain a competitive edge to increase their global footprint and sustain growth in sustainable pharmaceutical packaging market.
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. The company operates 36 manufacturing plants in 16 countries across Europe, the Americas, and Asia. The operations are in Mexico, Poland, Switzerland, India, Singapore, the Czech Republic, Belgium, Brazil, China, Denmark, France, North Macedonia, Spain, and the US. It has more than 10,000 employees, out of which 4,504 are in the plastic & devices segment and 5,333 in the primary packaging glass segment.
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SCHOTT AG is a manufacturer of high-tech materials for specialty glasses. The company operates as a subsidiary of Carl-Zeiss-Stiftung (Germany). It operates through four business segments, namely, precision materials, optical industries, home appliances, and trade & others. The packaging business is conducted through the precision materials business division. SCHOTT AG serves a multitude of industries, ranging from healthcare, home appliances & living, and consumer electronics to semiconductors & datacom, optics, industry & energy, automotive, and astronomy & aerospace. SCHOTT established its subsidiary SCHOTT Pharma to advance its growth strategy for its pharma business, especially in pharma drug containment and delivery solutions. SCHOTT Pharma’s product portfolio ranges from drug containment solutions to drug delivery systems such as pharmaceutical syringes, cartridges, vials, and ampoules, with more than 13 billion drug containers produced every year. SCHOTT AG offers glass tubing and primary packaging, including syringes, vials, ampoules, and cartridges, for the pharmaceutical industry. SCHOTT has manufacturing sites and sales offices in 34 countries and 600 production sites in 13 countries. The company has a total of 17,300 employees working globally.
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.