Industry Background:
Rising urbanization, as well as the increasing awareness among customers towards the use of better packaging, will help to boost the global child resistance packaging market. Child resistance packaging is also called CR packaging. It is special packaging used to reduce the risk of children ingesting hazardous materials. The significant purpose of child-resistant packaging is to avoid children from interacting with poisonous products and drugs. Child-resistant packaging products are agreed upon by the regulatory organizations that work in the arena of child health care.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Flexibles Group GmbH (Austria), Amcor Limited (Australia), Bemis Company, Inc. (United States), Berry Global (United States), Gerresheimer AG (Germany), KushCo Holdings, Inc. (United States), WestRock Company (United States), Bilcare Limited (India), Global Closure Systems (Germany) and Winpak Ltd. (Canada) |
According to AMA, the market for Child Resistant Packaging is expected to register a CAGR of 5.05% during the forecast period to 2028. This growth is primarily driven by Growing Concerns About Risk of Children Ingesting Harmful Chemical & Drugs and Child Safety and Increasing Demand in the Pharmaceuticals Industry.
Globally, a noticeable market trend is evident Stringent Regulations Made Up By Health Care and Drugs Regulatory Organizations
The Paper Packaging sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Flexibles Group GmbH (Austria), Amcor Limited (Australia), Bemis Company, Inc. (United States), Berry Global (United States), Gerresheimer AG (Germany), KushCo Holdings, Inc. (United States), WestRock Company (United States), Bilcare Limited (India), Global Closure Systems (Germany) and Winpak Ltd. (Canada), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Manufacturers focus on investing in research and development to create packaging designs that are both secure and easy to use, striking a balance between child resistance and adult accessibility. Apart from this, players explore new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
On 6th August 2018, Amcor Limited acquired Bemis Company, Inc. in an all-stock combination. Combining these two complementary companies will create the global leader in consumer packaging, with the footprint, scale, and capabilities to drive significant value for shareholders, offer customers and employees the most compelling value proposition in the packaging industry, and deliver the most sustainable innovations for the environment.
In January 2022, Amcor Ltd., a company that designs and manufactures responsible packaging solutions, launched a new platform for paper-based packaging products; AmFiberTM. AmFiber innovation aims to redefine the function of traditional paper packaging and provide a wider range of features and functional benefits to meet the changing needs of consumers.
Regulatory Insights:
In the USA, child-resistant packaging is the result of the poison prevention act (PPA) which was passed by the US Congress in 1970. According to the poison protection act (PPPA), “Significantly difficult for children under five years of age to open or obtain a toxic or harmful amount of the substance contained therein within a reasonable time and not difficult for normal adults to use properly”. and According to The Tobacco and Related Products Regulations 2016,” No person may produce or supply an electronic cigarette or refill container unless it complies with Nicotine-containing liquid which is presented for retail sale must be in (a) a dedicated refill container in a volume not exceeding 10 milliliters; or (b) a disposable electronic cigarette, a single-use cartridge, or a tank, in a volume not exceeding 2 milliliters. An electronic cigarette or refill container must have a mechanism for ensuring re-filling without leakage (unless it is a disposable electronic cigarette).”
Influencing Trend:
Stringent Regulations Made Up By Health Care and Drugs Regulatory Organizations and High Adoption in the Cannabis Industry As Well As Tobacco Industry (E-Cigarette)
Market Growth Drivers:
Growing Concerns About Risk of Children Ingesting Harmful Chemical & Drugs and Child Safety and Increasing Demand in the Pharmaceuticals Industry
Challenges:
Maintaining Regulatory Compliance with Various Regulations and Standards Can Be Complex and Costly
Restraints:
The Reluctance of End-User Industry for Using the Child-Resistant Packaging
Opportunities:
New Technological Advancement in Child Resistance Packaging Solutions
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Child Resistant Packaging Market
- Analysis about New Entrants in Child Resistant Packaging Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Child Resistant Packaging Study Sheds Light on
The Child Resistant Packaging Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Child Resistant Packaging industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Child Resistant Packaging industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.