Biodegradable Pharmaceutical Packaging Market Is Witnessing Massive Growth With Amcor Plc Introducing New Recyclable Packaging Solution Amlite Ultra Recyclable For Personal Care And Pharmaceutical Products



 Biodegradable pharmaceutical packaging is a new and emerging trend that has emerged in the field of medical science as it aims at both, reducing the burden of waste and also helps in reducing the toxic emissions that can cause several health problems. Pharmaceutical packaging made of biodegradable materials like cardboard, sails, cotton, and fiberglass is proving to be very useful. This can be used for all types of packaging. It is not only ensures a longer shelf life but also offers a cost-saving option. Biodegradable packaging can be of various types. Biodegradable mailing envelopes are gaining popularity as they do not consume much space and last longer than other standard mail envelopes.

Robust growth of the pharmaceutical industry in emerging economies is expected to drive growth of the global biodegradable pharmaceutical packaging market. According to the India Brand Equity Foundation (IBEF), India’s domestic pharmaceutical market reached US$ 20.03 billion in 2019, increasing from US$ 18.12 billion in 2018, registering a 9.8% y-o-y growth rate. Such massive growth is supported by rapid growth of the healthcare sector and growing disposable income across the country. Biodegradable pharmaceutical packaging is eco-friendly in nature and is safe to enclose pharmaceutical products since they are non-toxic. Hence, these factors are expected to drive growth of the global biodegradable pharmaceutical packaging market. Furthermore, stringent government regulations and growing emphasis on efficient packaging management are expected to propel the global biodegradable pharmaceutical packaging market growth in the near future.

Lack of adequate supply of bio-plastics and related materials combined with rising packaging costs is expected to restrain growth of the global biodegradable pharmaceutical packaging market. Among regions, North America is expected to witness significant growth in the global biodegradable pharmaceutical packaging market. This is owing to the presence large healthcare system and growing R&D activities for drug development across the region. Furthermore, Asia Pacific is expected to register a robust growth rate, rapid growth of the pharmaceutical sector in India and China.

Key players involved in the global biodegradable pharmaceutical packaging market are Tetra Pak International SA, Ranpak Holding Corporation, Amcor plc, International Paper Company, Mondi Group, Greenpack Limited, Imex Packaging, Elevate Packaging Inc., Berkley International Packaging Limited, Smurfit Kappa Group plc, Kruger Inc., and Biopak PTY LTD (Duni Group).

For instance, in April 2019, Amcor plc introduced a new recyclable packaging solution AmLite Ultra Recyclable for personal care and pharmaceutical products.

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