Future Market Insights
Packaging have become vital constituents of modern life in order to protect and preserve the product from any type of harm such as leakage, contamination, damage, etc. during the course of transit, consumption and storing. Moreover, some sensitive products require a sterile packaging solution that not only protect the product from contamination or leakage, but also protect them from reacting with packaging solution. In addition to this, incorporating the modern technological advancement to aesthetically pleasing packaging solution, the demand for improved packaging solution results in the expansion and growth of the sterilized packaging solution. Sterilized packaging solution not only increase the shelf life of the product but also maintain the quality and taste of the product.
Sterilized Packaging Market- Market Segmentation:
The global sterilized packaging market is segmented on the basis of product type, material type, sterilization method and application type. On the basis of product type, the global sterilized packaging market can be segmented into thermoform trays, bottles, containers, vials, ampoules, wraps, blister, clamshell, bags, pouches, pre-filled syringes and pre-filled inhalers. Vials and ampoules are expected to grow significantly due to the advancement and requirement of effective pharmaceutical packaging. On the basis of material type, the global sterilized packaging market can be segmented into glass, paper and plastic, wherein, plastic is further segmented into polyethylene terephthalate (PET), polyvinyl chloride (PVC), polypropylene (PP), High Impact Polystyrene (HIPS) and high density polypropylene, wherein, polyvinyl chloride is expected to grow at a fast pace over the forecast period. On the basis of sterilization method, the global sterilized packaging market can be segmented into chemical sterilization method, radiation sterilization method and high temperature/pressure sterilization method. On the basis of application type, the global sterilized packaging market can be segmented into food products and pharmaceuticals. Moreover, pharmaceuticals can be further segmented into surgical and medical instrument, medical implants, medicines, others.
Sterilized Packaging Market - Market Dynamics:
One of the significant factors contributing towards the growth of the global sterilized packaging market is the government regulation towards effective packaging solution and stringent hygiene requirement subjected to pharmaceutical and food product. Moreover, advancement in the healthcare industry also provide opportunities to the global sterilized packaging market to grow exponentially. Another prominent factors contributing towards the growth of the global sterilized packaging market is the concern related to increase the shelf life of the product among manufacturer and retailers, which can be achieved by proper sterilized packaging solution. Furthermore, the rising health concern and increasing disposable income among the middle class population is generating a huge opportunity for retail food market which increases the requirement for sterilized packaged food and essentially drive the growth of the global sterilized packaging market. However, the restraining factor towards the growth of the sterilized packaging market is the packaging cost in terms of sterilization process. Moreover, another obstructing factor towards the growth of sterilized packaging market is the challenge related to maintain the packaging without being contaminated. In addition to this, government regulation towards the usage of plastic is expected to hinder the growth of sterilized packaging market.
Sterilized Packaging Market - Regional Outlook
Geographically, the global sterilized packaging market is segmented into North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA). The global sterilized packaging market is expected to witness a healthy CAGR over the forecast period of 2016-2024. Moreover, the extensive evolution of the individual in terms rising disposable income among middle income groups and increasing health concern in the growing economies such as China & India is expected to further improve the sales of the global sterilized packaging market in Asia Pacific region by the end of the forecast period. Apart from this, North America is expected to contribute largest in the global sterilized packaging market, due to the rising consumption of dairy products and increasing health awareness.
Sterilized Packaging Market - Major Players:
Some of the major players identified across the globe in the sterilized packaging market are Amcor Limited, 3M, E. I. du Pont de Nemours and Company, Bemis Company, Inc., West Pharmaceutical Services, Inc., Gerresheimer AG, SCHOTT AG, SteriPack Contract Manufacturing, Barger Packaging Inc. and North American Sterilization & Packaging Company.
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