Global Pharmaceutical Plastic Bottles Market is Likely to Surge Due to Increasing Demand for Flexible Packaging and Growing Pharmaceutical Industry
The Global Pharmaceutical Plastic Bottles Market is estimated to be valued at USD 10.53 Bn in 2024, exhibiting a CAGR of 4.8% over the forecast period (2024-2031). The market is witnessing high growth owing to increasing demand for flexible plastic packaging from pharmaceutical manufacturers and rapid expansion of the pharmaceutical industry across the globe. Furthermore, plastic bottles are preferred over other materials, such as glass, due to properties like lightweight and durability.
Market Dynamics:
Rising demand for flexible packaging: Pharmaceutical plastic bottles are gaining widespread acceptance among end users as they provide flexibility in terms of shape, size, and packaging designs. Their lightweight and flexible nature eases production, distribution, and storage activities.
Growing pharmaceutical industry: The expanding pharmaceutical industry especially in emerging nations is driving significant growth in the demand for pharmaceutical packaging like plastic bottles. Increasing healthcare expenditures, ready availability of medicines, and growing affluence are fueling the industry growth.
Increasing Demand for Cost-effective and Lightweight Packaging Drives the Market
One of the major drivers for the global pharmaceutical plastic bottles market is the increasing demand for cost-effective and lightweight packaging from pharmaceutical manufacturers. Plastic bottles provide a cost-effective solution for packaging various pharmaceutical products like tablets, capsules, syrups, ointments, etc. compared to traditional glass bottles. The production and transportation costs are lower for plastic bottles since they are lighter in weight than glass bottles. This allows pharmaceutical companies to reduce overall packaging costs. Moreover, plastic bottles are easy to transport in large volumes and occupy less space during storage and shipping. The lightweight nature of plastic bottles eases the logistical challenges for pharmaceutical manufacturers and distributors.
Growth in Generic and OTC Drug Markets Fuels the Bottle Demand
Another key driver is the significant growth being witnessed in the global generic and over-the-counter (OTC) drug markets in recent years. The increasing healthcare expenditure and rising aging population have augmented the demand for low-cost generic medicines worldwide. Plastic bottles are widely used for packaging these low-cost generic drugs. Moreover, consumers are more inclined towards purchasing OTC drugs for minor ailments rather than visiting a doctor. This has boosted the sales of OTC pharmaceutical products packaged in plastic bottles. The expanding generic and OTC drug markets offer lucrative opportunities for plastic bottle manufacturers to cater to the growing packaging requirements of pharmaceutical companies.
Stringent Regulations on the Use of Bisphenol a Restrain the Market
One of the major restraints faced by plastic bottle manufacturers is the stringent regulations imposed on the use of Bisphenol A (BPA) in food-grade plastics. BPA is a chemical monomer used in the production of polycarbonate plastics and epoxy resins. However, several studies have linked its exposure to numerous health issues like cancer, birth defects, diabetes, etc. As a result, many countries and organizations including the U.S., Canada, and the EU have either banned or restricted the use of BPA in the packaging of food and beverages. Since plastic bottles are also used widely in pharmaceuticals, manufacturers have to find BPA-free alternatives to comply with the regulations, which increases production costs.
Concerns over Plastic Waste Generation Pose a Threat
Growing environmental concerns associated with non-biodegradable plastic waste have emerged as a major challenge for the market. Plastic bottles take centuries to decompose and release toxic leachates into the soil and water bodies during degradation. Moreover, non-recyclable used bottles end up in landfills and incinerators, seriously impacting the environment. Several government regulations and policies encouraging sustainable practices put pressure on plastic bottle producers to curb waste generation and adopt recycling initiatives. High recycling and disposal costs of plastic bottles also act as a restraint. Environmental groups campaigning against single-use plastics further add to the regulatory pressures on manufacturers.
Shift Towards Bioplastics Offers New Opportunities
One of the key opportunities for plastic bottle manufacturers is the increasing shift towards bioplastics made from renewable biomass sources like sugarcane, corn starch, vegetable fats/oils, etc. Bioplastics have emerged as a sustainable alternative to conventional plastics with certain types completely biodegradable. Their use helps address environmental concerns around plastic waste. Many pharmaceutical companies now prefer bioplastic bottles for their green credentials. This transition provides bottle producers an opportunity to expand their product portfolio and cater to the growing demand for eco-friendly sustainable packaging solutions.
Personalized Packaging Trend Presents New Prospects
Emergence of personalized packaging as an evolving trend also offers new prospects. Advancements in printing, labeling, and finishing technologies allow offering customized bottles with features like personalized labels, smart codes, and seals. This helps pharmaceutical manufacturers capture niche market segments by facilitating tailored patient experiences. Personalized bottles help improve medication adherence for chronic conditions through patient engagement. They also enable brand differentiation and promotion of specific drugs. The ability to offer customized solutions presents plastic bottle producers an opportunity to develop innovative product lines catering to the personalized packaging needs of pharmaceutical companies.
Link - https://www.coherentmarketinsights.com/market-insight/pharmaceutical-plastic-bottles-market-5287
Key Developments:
- Berry Global Group announced plans in April 2024 to bolster its healthcare production capabilities, committing to a significant investment in additional assets and increasing manufacturing capacity by up to 30% across three of its European facilities. Berry Global, a leading provider of innovative packaging solutions, aims to enhance its support for the healthcare sector through this strategic expansion.
- Bormioli Pharma, a global leader in pharmaceutical packaging, partnered with Loop Industries in January 2024 to launch an innovative pharmaceutical bottle made entirely from recycled virgin-quality Loop PET resin. This breakthrough product, designed to advance sustainability in healthcare, was unveiled at Pharmapack Europe 2024.
- In January 2023, Aptar Pharma, a prominent name in drug delivery systems, introduced the APF Futurity, its first metal-free, multidose nasal spray pump. This groundbreaking device, engineered for nasal saline and other OTC products, exemplifies Aptar Pharma's commitment to sustainability and innovation.
- Gerresheimer AG, a global leader in packaging solutions and drug delivery systems, expanded its manufacturing footprint in India in May 2022. The company inaugurated a new production facility at its Kosamba site to manufacture plastic containers and closures, strengthening its local supply capabilities for the pharmaceutical and healthcare sectors.
- In November 2021, Santen Pharmaceutical Co. Ltd., a leading Japan-based pharmaceutical company specializing in ophthalmology, announced plans to launch the first bio-based plastic eye drop bottle in the EMEA region. This initiative aligns with the company’s goal of achieving zero carbon emissions and reflects its dedication to sustainable practices.
Key Players:
Amcor Plc, Gerresheimer AG, AptarGroup, Inc., Berry Global, Inc., West Pharmaceutical Services, Inc., RPC Group Plc, Sanner GmbH, Comar LLC, Alpack Plastics, Inc., Indevco Group, Shandong Minde Plastic Co., Ltd., HCP Packaging, Shenzhen Dazheng Printing Co., Ltd., Sidel Group, and Plastipak Holdings, Inc.
