A recent study by global market intelligence company, Fact.MR, claims the use of plastics and polymers in packaging will multiply by two times during 2019-2029.
A key reason for the rise in the use of plastics in packaging is the increasing adoption of sub-segments such as polypropylene in sustainable packaging practices.
The pharmaceutical packaging market is also set to multiply, but by 2.2 times during the same period. This is thought to be due to advancements such as smart labelling, enhanced dosing techniques and renewable materials. Additionally, an increase in healthcare spending in developed countries, and a rise in interest for convenient packaging solutions will help the market grow. The development of new drugs will also increase the demand for primary packaging.
Going forward, carbon footprint reduction must be considered a top priority. How and where to recycle materials which claim to be recyclable is often a limitation. However, manufacturers could start recycling initiatives such as in-store recycling where consumers are able to return used inhalers and other devices in order to overcome this issue.
The Fact.MR analyst commented: “Sustainability is key to growth in the pharmaceutical packaging market. Governments are proactively lobbying packaging and product labelling practices and introducing regulations on a frequent basis. Manufacturers stand to gain sustainable growth by curbing environmental pollution from packaging waste.”
The full report can be accessed here.