The Global India Pharmaceutical Packaging Market is estimated to be valued at US$ 1.7 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Pharmaceutical packaging provides protection, identification and accurate information about the content. It helps provides tamper evident access, maintains stability throughout shelf life and ensures traceability of the product. It plays a vital role in maintaining safety and efficacy of drugs during storage, transportation and at the point of dispensing.
Market key trends:
The rising Global India Pharmaceutical Packaging Market Demand for flexible packaging and environment friendly materials has emerged as a key trend in the India pharmaceutical packaging market. Flexible packaging materials like pouches, sachets, and stick packs are increasingly replacing rigid containers as they help maximize shelf space and provide enhanced product protection at lower costs. Furthermore, strict government regulations regarding use of eco-friendly materials has pushed packaging manufacturers to develop biodegradable and sustainable packaging solutions made from materials like paper and paperboards. This is expected to positively influence the market growth during the forecast period.
SWOT Analysis
Strength: Large domestic market with growing healthcare spends and pharmaceutical industry. Presence of global pharmaceutical MNCs is boosting local capabilities.
Weakness: High import dependency on certain raw materials increases price volatility. Lack of automation in smaller firms impacts quality and productivity.
Opportunity: Rising exports of generics and pharmaceutical chemicals with ‘Pharma Vision 2020’ policy support. Adoption of advanced technologies can significantly enhance efficiency.
Threats: Stiffer competition from alternative packaging materials and global players. Stringent regulatory compliance increases compliance costs.
Key Takeaways
The Global India Pharmaceutical Packaging Market was valued at US$ 1.7 Bn in 2023. The market is expected to witness high growth, exhibiting CAGR of 9.7% over the forecast period 2023 to 2030, due to increasing healthcare expenditure and expansion of domestic pharma industry.
Regionally, South India dominates India’s pharmaceutical packaging market currently. This is attributed to presence of major export clusters in states like Telangana and Karnataka. However, North India is anticipated to be the fastest growing market during the forecast period supported by various government incentives for pharmaceutical industry in states like Himachal Pradesh, Haryana and Punjab.
Key players operating in the India pharmaceutical packaging market are Amcor Plc., Aptar Group Inc., Huhtamaki Plc. and Uflex Limited. Other prominent players include Gerresheimer AG, Schott AG, West Pharmaceutical Services, Inc. and Becton, Dickinson and Company. These players are focusing on new product launches, partnerships and mergers & acquisitions for gaining stronger foothold in India’s high growth pharmaceuticals packaging industry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
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