Sustainable Pharmaceutical Packaging Market to Surpass USD 259.71 Billion by 2031 Driven by Eco-Conscious Consumers and Stringent Regulations

Market Overview:

The Sustainable Pharmaceutical Packaging Market according to the SNS Insider report, stood at USD 82 Billion in 2023, which is expected to reach a staggering USD 259.71 Billion by 2031, reflecting a robust Compound Annual Growth Rate (CAGR) of 15.5% from 2024 to 2031. This growth is attributed to a confluence of factors, including rising consumer preference for eco-friendly materials, stricter environmental regulations, and advancements in packaging technology.

Growing Demand for Sustainable Solutions Fuels Market Expansion

The Sustainable Pharmaceutical Packaging Market encompasses the development, production, and utilization of recyclable, reusable, biodegradable, and compostable packaging materials specifically designed for pharmaceutical products. The rising global pharmaceutical market, valued at a staggering USD 1.6 trillion in 2023, necessitates the need for robust and sustainable packaging solutions. Regions like Asia Pacific, with its massive population and rising healthcare spending, are witnessing significant growth in the pharmaceutical sector, further propelling the demand for sustainable packaging options.

The Sustainable Pharmaceutical Packaging Market is a dynamic sector constantly evolving with new advancements.

• In September 2022, Aptar Pharma, a leading pharmaceutical packaging company, unveiled a groundbreaking dispensing solution. This solution is unique for being mono-material, meaning it’s composed of a single material, and fully recyclable when paired with a compatible polyethylene terephthalate (PET) or polyethylene (PE) bottle.
• In September 2022, Berry Global Group, Inc., a major player in the packaging industry, collaborated with Mars Inc. to introduce a sustainable packaging solution for their popular pantry-sized treats. This initiative involved utilizing polyethylene terephthalate (PET) jars optimized to include 15% recycled plastic content, specifically post-consumer resin (PCR).

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Major Key Players Included are:

• Vetter Pharma International
• Schott AG
• Amcor plc
• Gerresheimer AG
• AptarGroup Inc
• Owens Illinois Inc
• CCL Industries Inc
• SGD Pharma
• West Pharmaceutical Services Inc
• Drug Plastics Group
• WestRock Company
• Becton
• Dickinson
• Company

Segmenting the Market

The Sustainable Pharmaceutical Packaging Market can be segmented by Raw Material, Product Type, and End User.

By Raw Material: Paper & Paperboards dominate this segment with the market share of 38%, due to their recyclability and biodegradability. However, Plastic & Polymers still hold a significant share due to their cost-effectiveness and versatility.

• Paper & Paperboards
• Plastic & Polymers
• Aluminium Foil
• Glass
• Others

By Product Type: Primary packaging, which directly comes in contact with pharmaceuticals, is the leading segment due to stringent regulations and growing consumer awareness regarding environmental impact.

• Primary
• Secondary
• Tertiary

By End User: Contract packaging companies represent the largest segment, followed by institutional pharmacies, retail pharmacies, and pharmaceutical manufacturers.

• Contract Packaging
• Institutional Pharmacy
• Retail Pharmacy
• Pharma Manufacturing

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Impact of Geopolitical Tensions on the Sustainable Pharmaceutical Packaging Market

Geopolitical tensions, particularly the conflict in Ukraine, have disrupted supply chains for raw materials needed in sustainable packaging production. This disruption is estimated to cause delays of up to 30% for manufacturers, impacting their ability to meet market demands. Economic instability caused by these tensions incentivizes companies to prioritize short-term gains, potentially stalling investment in sustainable packaging advancements, which could see a funding decline of 10%. Additionally, market volatility and shifting regulations can influence consumer behavior, leading to a potential decline in demand for sustainable options by as much as 5% as affordability becomes a bigger concern.

Asia Pacific Leads the Sustainable Pharmaceutical Packaging Market

The Asia Pacific region has emerged as the frontrunner in the Sustainable Pharmaceutical Packaging Market, holding a dominant 20% share. This dominance can be attributed to the region’s growing focus on sustainability and environmental protection, coupled with the rapid expansion of its pharmaceutical industry.  Governments in the region are actively implementing policies and regulations to promote sustainable packaging and reduce the environmental footprint. Additionally, pharmaceutical companies in Asia Pacific are heavily investing in research and development to create innovative and sustainable packaging solutions.

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Key Takeaways from Sustainable Pharmaceutical Packaging Market Report

• Gain insights into the factors propelling market expansion, such as rising consumer eco-consciousness and regulatory pressures. This report identifies potential roadblocks, including economic downturns and geopolitical tensions.
• Identify the segments within the Sustainable Pharmaceutical Packaging Market, including raw materials like paper & paperboards, product types like primary packaging, and end users like contract packagers.
• Understand the dynamics of the Sustainable Pharmaceutical Packaging Market across key regions like Asia Pacific, a leader due to its booming pharmaceutical industry and focus on sustainability.

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Table of Contents – Major Key Points

1 Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2 Research Methodology

3 Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4 Impact Analysis

4.1 Impact of Russia-Ukraine War

4.2 Impact of Ongoing Recession

4.3 Impact of Covid-19

5 Value Chain Analysis

6 Porter’s 5 forces model

7 PEST Analysis

8 Sustainable Pharmaceutical Packaging Market Segmentation, By Raw Material

8.1 Paper & Paperboard

8.2 Plastic & Polymers

8.3 Aluminium Foil

8.4 Glass

8.5 Others

9 Sustainable Pharmaceutical Packaging Market Segmentation, By Product

9.1 Primary

9.2 Secondary

9.3 Tertiary

10 Sustainable Pharmaceutical Packaging Market Segmentation, By End User

10.1 Contract Packaging

10.2 Institutional Pharmacy

10.3 Retail Pharmacy

10.4 Pharma Manufacturing

11 Regional Analysis

12 Company Profile

13 Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

14 USE Cases and Best Practices

15 Conclusion

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