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The India pharmaceutical packaging market was estimated at USD 2.107 billion in 2017. This market is expected to reach USD 3.57 billion by the end of 2023, at a CAGR of 9.2% during 20182023 the forecast period. The Indian packaging industry constitutes of about 4% of the global packaging industry. The per capita packaging consumption in India is quite low at around 4 kg, compared to countries, like Taiwan and Germany with consumption at 19 kg and 42 kg, respectively. However, the boom in organized retail and ecommerce boosts the packaging sector. Coupled with the economic growth in the country, the purchasing power of India's middleclass population in terms of healthcare services, particularly medicines, has increased. Key indicators such as total % of population more than 65 years of age, GDP, healthcare per capita expenditure, pharmaceutical demand, and net pharmaceutical exports are expected to influence the market in the forecast period.
Nanotechnology Is Expected To Have a Profound Impact on the Packaging Market
Nanotechnology, the science of very small materials, has a huge impact on pharmaceutical packaging, as it enables the introduction of innovative and newgeneration packaging solutions to the market, thus, driving the growth. Improved barrier properties in plastics and enhanced functionality for nanotechnology, facilitates the growth of the pharmaceutical packaging market. Hence, innovations in nanotechnology aid the growth and expansion of the plastic pharmaceutical packaging segment.
Challenging Environment for Plastic Packaging in the Country
India is a thriving market for plastic, and consumes about 12.8 million metric ton MMT of plastic annually. The plastic and polymer consumption is increasing at an average rate of over 10%. About 30,000 processing units, with 113,000 processing machines have led to a manufacturing capacity of 30 MMT per annum in the country. The increasing investment in making plastic safer, have led to a growing dependency for more sturdy and strong packaging in the market. Sustainable plastic packaging in the pharmaceutical industry has immense potential to grow in the near future. However, India is responsible for an extraordinary 60% of the plastic that is discarded in the world's oceans every year. Hence, the National Green Tribunal introduced a ban on disposable plastic in the capital city, Delhi. The ban on plastic packaging in some regions, like Delhi, Madhya Pradesh, etc., is expected to hinder the growth of the pharmaceutical packaging market
April 2017: The European aluminum foil association EAFA was awarded the Alufoil trophy to Amcor's Frangible Formpack Blister, for technical innovation.
November 2016: Amcor acquired Hebei Qite Packaging to strengthen its market in Northern China.
Major Players: AMCOR LTD, TIME TECHNOPLAST, BILCARE LTD, ESSEL PROPACK LTD, ESS DEE ALUMINIUM LTD, REXAM PLC, APTARGROUP INC., CCL INDUSTRIES INC, GERRESHEIMER AG, AND WEST PHARMACEUTICAL SERVICES INC., amongst others.
Reasons to Purchase this Report
Current and future India pharmaceutical packaging market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet in excel
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Original Article: India Pharmaceutical Packaging Market Segmented by Packaging Material Plastic, Glass, Metal, Type of Packaging Ampoules, Vials, Blister Pack Growth, Trends, and Forecast 2018 2023 [Report Updated: 20022018] Prices from USD $3250NEXT ARTICLE
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