Child Resistant Packaging Market Shows Huge Growth US$ 40.1 Bn by the end of 2031 | TMR Study

Rise in sales of child resistant packaging is directly associated with the drastic growth of pharmaceutical and medical devices industry across the globe

ALBANY, NY, US, January 13, 2022 /EINPresswire.com/ -- Transparency Market Research offers key market acumens of global child resistant packaging market in its newly published report, which includes global industry survey, share, growth, size, trends, along with forecast for 2021-2031. In terms of global revenue, the child resistant packaging market is anticipated to register growth at a CAGR of 5.9% during the upcoming decade, of which TMR provides a detailed analysis of lucrative growth opportunities in the child resistant packaging market report.

The child resistance locking pouches are made from plastic material, which has a feature that makes it difficult for a child to open it. Child resistance locking pouches are used to prevent accidental exposure to toxic or harmful content. The child resistant locking pouches are opaque and have a high barrier packaging option, which make it popular among various end-use industries such as food & beverages, personal care, pharmaceuticals, etc. Sterile medical packaging includes various types of packaging such as caps and closure, dropper, blister and clamshells, joint container tubes, bags and pouches, cartons, and many others that are used for the specific type of packaging.

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Advancement in Healthcare Sector Generating Demand for Safer and More Efficient Products

The last few decades were a period of global economic crisis and witnessed a growth in the number of drugs packaging. As a consequence, various pharmaceutical products have been compelled to review their strategies. As a result, a major shift in focus was observed in healthcare, focusing on the use of products that are child resistant. Therefore, pharmaceutical companies are focusing on the use of child resistant packaging products at relatively economical cost, which can respond to the growing demand for the adoption of various product type.

Product Innovations among Child Resistant Packaging Manufacturers

Key market players are aiming to expand their product offerings and presence in untapped market. For instance, companies that excel in offering small sized packaging will likely opt for other sizes and technologies, similar to those who hold market share in a single location will look for mergers or acquisitions, which allow them into newer markets.

On October 2021, Berry M&H launched a child resistant certified bottle and closure combination, which will provide safe and secure packaging for a range of applications that include healthcare and household cleaning products. The child resistance protection is certified according to ISO standards. The company says the bottle range was tested and approved to BS EN ISO 8317:2015.

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On November 2021, diamond packaging made an announcement of winning three awards in the 2021 North American paperboard packaging competition. Diamond Lockbox folding cartons are an upscale, certified child-resistant (CR) packaging solution for medical or recreational marijuana products, luxurious enough to rival high-end cosmetic brands.

On December 2021, berry global introduced a lightweight and recyclable closure for sauce bottles providing more convenience for consumers. The company has also introduced a range of child-resistant certified bottles and closures combinations for applications such as cleaning agents and DIY projects. The new design offers strength and durability in the same way with consistent and reliable performance.
Growth in Demand for Reusable Packaging Solutions

To cope with growing regulatory pressure and reduce transportation costs, service providers are focusing on use of reusable packaging rather than one-way (disposable) systems

Reusable packaging reduces usage of refrigerants and insulation materials that are linked with ozone depletion and global warming. Use of reusable insulated containers for multiple transportation is also significantly cost effective.
Child Resistant Packaging Market: Competition Landscape

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Key market players in the child resistant packaging market are focusing on strategic expansions and acquisitions to maintain their supremacy across the regions and eyeing lucrative growth offered by emerging markets

On January 2020, Origin Pharma Packaging has launched a piece of packaging dedicated to the medicinal cannabis industry, which is the newly designed child-resistant jar. These products/medicines have to be packaged safely, as they will be entering a domestic environment where children may be present.
In April 2019, ProAmpac LLC announced the expansion in its product line for child resistant pouch portfolio to cater the increasing demand for child resistant packaging

The Tier Structure is formed based on segmental revenues earned by the sales of sterile medical packaging by the company. According to the tier structure, Constantia Flexibles Group GmbH, Amcor Limited, Berry Global, and WestRock Company are major manufacturers included in tier 1. In addition, Placon Corporation Inc., Bemis Company, Inc, Gerresheimer AG, Bilcare Limited, and Global Closure Systems are included in tier 2. Moreover, KushCo Holdings Inc,. Winpak Ltd and other manufacturers are included in tier 3.

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