NORTH AMERICA SACHET PACKAGING IN PHARMACEUTICALS MARKET ANALYSIS

Market Challenges And Opportunities

Drivers

The growing demand for OTC drugs is expected to drive the market growth of the sachet packaging in pharmaceuticals in North America. People rely on over-the-counter (OTC) drugs as an accessible and effective solution for commonly occurring conditions such as common cold, allergies, body pain, upper and lower gastrointestinal (GI) tract issues, fungal infections, skin inflammation, smoking cessation, and sleeping disorder among others. OTC drugs are available in wide variety of retail outlets, including grocery stores, drug stores, and mass merchandisers. For instance, according to a report released by the U.S. Consumer Healthcare Products Association (CHPA) in 2019, the availability of OTC medicines provide US$ 146 billion in value to U.S. healthcare system annually.

Moreover, advantages associated with sachet packaging is expected to foster the market growth of North America sachet packaging in pharmaceuticals. Sachet packaging requires minimal packaging material, consumes less storage space, and requires low shipping cost. This can lead to saving in overall packaging cost. The style and designs of sachet packs are customizable to a greater extent. Pharmaceutical manufacturers can have the packs in any size or shape so as to meet the demands for their business, brand, and product. Sachet packaging offers a large surface area presenting the perfect opportunity for pharmaceutical manufacturers for branding.

Market Restraints

Availability of substitutes is hampering the sachet packaging demand in the North America. For instance, availability of other flexible packaging substitutes such as stick packaging and pouch packaging is expected to hamper market growth of the North America sachet packaging in pharmaceuticals over the forecast period.

From an economic point of view, stick packaging offers reduced raw material costs and has lower total packaging costs compared to sachet packaging. This factor is further expected to hinder the market growth of sachet packaging in pharmaceuticals in North America.