2021 Global Pharmaceutical Packaging Materials Market Size Forecast and Analysis
Pharmaceutical packaging materials refer to materials used to manufacture packaging containers, packaging decoration, packaging printing and packaging transport that meet product packaging requirements; they include both main packaging materials such as metals, plastics, glass, ceramics, paper, bamboo, wild mushrooms, natural fibers, chemical fibers and composite materials, and auxiliary materials such as coatings, adhesives, strapping, decoration and printing materials.
The global pharmaceutical packaging materials industry is highly concentrated, with enterprises in developed countries occupying the main market share of the industry and leading the industry in product variety, technical level and R&D strength. In 2018, the global pharmaceutical packaging industry market size reached 94.1 billion US dollars, with an average annual compound growth rate of 5.65% from 2016 to 2018, and it is expected to reach a market size of 111 billion US dollars in 2021.
Data source: compiled by AskCI Consulting.
As one of the world's largest emerging pharmaceutical markets, the pharmaceutical packaging materials industry in emerging markets such as the Asia-Pacific region is in a growth stage, with a growth rate higher than other regions. On the one hand, the economic growth rate of emerging markets over the past decade has been higher than the global average, and multinational pharmaceutical companies are gradually treating emerging markets as an important growth point for product sales, investing large amounts of capital and resources to do business there; on the other hand, human resource costs in emerging markets are far lower than in Europe and the United States, whether for personnel involved in product technology R&D or those engaged in product marketing, and their costs have significant advantages, so China, India and other countries will become the fastest-growing pharmaceutical packaging materials markets in the world.
——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-378483.html
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