North America is projected to dominate the Global Child Resistant Packaging Market in 2018-2026
The global market for child resistant packaging was valued at US$ 17,650.9 million in 2017. The global child resistant packaging market value is projected to expand at a CAGR of 6.1% during the forecast period, 2018-2026.
According to the ASTM Index Type, child resistant packaging is segmented into reclosable and non-reclosable packaging type. The child resistant packaging is segmented in the market on the basis of the type of packaging product. Some of them are caps & closure, blisters & clamshells, joint container tubes, bags & pouches, and cartons. The caps & closures are assumed as the first child resistant packaging products developed in the United States to stop children from ingesting hazardous drugs. The important function of child resistant packaging is to prevent children from interacting with poisonous products and drugs. The child resistant packaging products are approved by the regulatory organizations that work in the field of child health care. The child resistant packaging products are tested by arranging a panel of children between 42-51 months and seniors above 60 years.
Planning to lay down future strategy? Perfect your plan with our report brochure here https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=15368
The child resistant packaging is developed from four types of materials, namely, plastic, glass, metal, and paper. The plastic materials used in the child resistant packaging are polyethylene, polyethylene terephthalate, polystyrene, polypropylene, polyvinyl chloride, and ethylene vinyl alcohol. Plastic is the prominent material used in the child resistant packaging. The blisters & clamshells, caps & closure, pouches & bags, and joint container tubes are manufactured from it. In the global child resistant packaging market, glass material is expected to lose the market share during the forecast period. The global child resistant packaging is used by end-user industries such as pharmaceuticals, food & beverages, cosmetics, homecare, chemical & fertilizers, automotive, cannabis, and tobacco (e-cigarette). In the pharmaceutical industry, child resistant packaging is compulsory for over the counter (OTC) drugs and prescribed medications. Due to this, the pharmaceutical industry is the noticeable end-user for child resistant packaging. In the global child resistant packaging market, pharmaceutical industry accounts for more than 75% of the market share. The stringent regulations made up by health care and drugs regulatory organizations are the key drives in the growth of child resistant packaging for the pharmaceutical industry. Blisters and clamshells, caps & closures and cartons are highly used products by the pharmaceutical industry. Due to new innovations and regulations for drugs packaging, the pharmaceutical industry is expected to dominate the global child resistant packaging market during the forecast period. The cannabis industry and tobacco industry (e-cigarette) are the new markets for child resistant packaging. In North America, legalization of the cannabis industry and regulations for child proof packaging are key factors for the development of new products like joint container tubes and bags & pouches in the child resistant packaging market.
In the global market, North America and Europe are the largest consumers of child resistant packaging. The overall growth in the pharmaceutical industry and child care regulations are the important motives in the development of child resistant packaging market in North America and Europe. In the North American child resistant packaging market, United States is projected to witness fast-paced growth during the forecast period. The German child resistant packaging market is projected to be attractive in terms of market share and incremental dollar opportunity by the end of 2026. Latin America and Middle East & Africa are expected to reach a cumulative market share of near to 10% in the global child resistant packaging market. China, India, and Japan are acting as the key market participants for improving the Asia Pacific child resistant packaging market.
Drivers and Restraints
Rising concerns about child safety and risk of children ingesting harmful chemical and drugs are drivers for the growth of child resistant packaging market. According to The World Health Organization and UNICEF’s World Report on Child Injury Prevention, “Child resistant packaging is one of the best-documented successes in preventing the unintentional poisoning of children.” The regulations and standard for packaging of drugs and chemicals in the child resistant packaging make the essential packaging solution for pharmaceuticals, homecare toiletries, automotive, and chemical & fertilizers. The manufacturers of consumer products are also adopting child resistant packaging to attract more consumers by showing concern for child health. Procter & Gamble developed new child resistant packaging to make laundry pods safer. New child resistant containers for Tide pods are becoming popular due to their safe and attractive packaging. The child resistance packaging manufacturers still compete for creating child resistant packaging which can be senior citizen friendly as well. The reluctance of end-user industry for using the child resistant packaging is restraining the market for child resistant packaging.
Looking for exclusive market insights from business experts? Request a Custom Report here https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=15368
Key players operating in the global child resistant packaging market are Constantia Flexibles Group GmbH, Amcor Limited, Bemis Company, Inc, Berry Global, Gerresheimer AG, KushCo Holdings, Inc., WestRock Company, Bilcare Limited, Global Closure Systems, and Winpak Ltd.