Global Pharmaceutical Packaging Materials Market Forecast: Size Expected to Reach US$111 Billion by 2021
Pharmaceutical packaging materials are used to make packaging containers, decoration, printing and transport solutions that meet product packaging needs. Primary materials include metal, plastic, glass, ceramics, paper, bamboo, wild mushrooms, natural fibers, chemical fibers and composites; auxiliary materials cover coatings, adhesives, strapping, decoration and printing materials.
In terms of competitive landscape, the global pharmaceutical packaging materials industry is highly concentrated. Companies from developed countries hold the main market share and lead in product variety, technical level and R&D capability. In 2018, the global pharmaceutical packaging industry market size stood at US$94.1 billion; from 2016 to 2018, the compound annual growth rate was 5.65%; and by 2021, the market is expected to reach US$111 billion.
Data source: compiled by AskCI Consulting.
Emerging markets such as Asia-Pacific are among the world's largest emerging pharmaceutical markets, and their pharmaceutical packaging materials industry is still in a growth stage, expanding faster than other regions. One reason is that emerging markets' economic growth over the past decade has outpaced the global average, prompting multinational pharmaceutical companies to view them as key sales growth engines and to invest substantial capital and resources there. Another reason is that human resource costs in emerging markets are far lower than in Europe and the United States, giving clear cost advantages for both product technology R&D staff and product marketing personnel. As a result, China, India and other countries are expected to become the fastest-growing pharmaceutical packaging materials markets worldwide.
——This article is reprinted from China Packaging Network (pack.cn); original link: http://news.pack.cn/show-378483.html
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