Sustainable Pharmaceutical Packaging Market Size

Sustainable Pharmaceutical Packaging Market Size

Sustainable Pharmaceutical Packaging Market was valued at USD 76 billion in 2023 and is anticipated to grow at a CAGR of over 15% between 2024 and 2032.

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According to the World Packaging Organizations (WPO), the pharmaceutical packaging market is projected to grow up to USD 229.9 billion by 2027 with a CAGR of approximately14.9%. Consumers are becoming aware about healthier lifestyles, easier access to healthcare facilities, and increasing global aging population, boosting the pharmaceutical packaging market. This overall growth in pharmaceutical packaging will drive the market as well.
 

According to the World Health Organization (WHO), after covid, around 2,600 tons of plastic waste was produced. Approximately 85% of healthcare wastage includes packaging and the other 15% includes chemical and hazardous wastage. This proves that packaging is mainly responsible for wastage generation in the healthcare industry. Therefore, international organizations and governments are enforcing stringent rules and regulations for the adoption of sustainable packaging solutions. This compels the manufacturers to go for sustainable packaging solutions.
 

Furthermore, people are becoming environmentally conscious and preferring sustainable choices. Therefore, manufacturers and companies are adapting sustainable and eco-friendly technologies for long-term sustainability. According to the journal published by International Journal of Creative Research Thoughts (IJCRT), consumers are concerned about the future of environment, this indicates the rise in the demand for green products & packages in the coming future. Furthermore, according to the Global Sustainability study, nearly 60% of consumers consider sustainability to be the main driving factor in purchasing decisions. All these factors encourage manufacturers to adopt sustainable pharmaceutical packaging, driving market growth.
 

Materials, such as glass, paper, plastic polymers, cardboard, and metals, are often combined for packaging purposes, making recycling challenging due to the difficulty in separating these materials. Additionally, printing is an essential aspect of the packaging industry. Printing on eco-friendly materials and incorporating environment-friendly substances can be expensive. According to the Verpact, a Dutch legal entity, which play crucial role in the packaging chain has disclosed the recycling rates for different materials in 2024. For instance, glass is priced at USD 110.3 per kg, paper and cardboard at USD 18.7 per kg, and aluminium at USD 220.7 per kg. Rate of recycling includes cost of collection, separation and recycling for that specific material. This complicated sourcing procedure of recycling poses challenges for sustainable packaging manufacturers.