Market Size of Asia Pacific PET Packaging Industry in Pharmaceutical Sector
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.10 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific PET Packaging in Pharmaceutical Market Analysis
The Asia-Pacific PET packaging market in the pharmaceutical sector (henceforth, referred to as the market studied) was valued at USD 2652 million in 2019, and it is projected to reach USD 3540 million by 2025, registering a CAGR of 5.1% during the period of 2020-2025. Plastic packaging is becoming more popular than other products, as a plastic package is light in weight and easier to handle. Similarly, even the major pharmaceutical manufacturers in the Asia-pacific region prefer to use plastic packaging solutions, owing to their lower cost of production. Moreover, polyethylene terephthalate (PET) polymers are growing in plastic bottling applications in the pharmaceutical industry.
- According to a study conducted by the PET Packaging Association For Clean Environment (PACE) and National Chemical Laboratory (NCL), in 2019, an estimated 80,000- 85,000 metric ton of PET products were used in the Indian pharmaceutical sector.
- Manufacturers prefer PET to other plastic packaging products, as it accounts for the minimum loss of raw material during the manufacturing process as compared to other plastic products. Its ability to add multiple colors and designs has made it a preferred choice for the industry players. In addition, PET offers safety and quality standards, which is why it is witnessing a predominant usage in the pharmaceutical sector.
- Furthermore, the adoption of PET can lead to nearly 90% weight reduction, as compared to glass, allowing a more economical transportation process. Currently, plastic bottles made of PET are widely replacing the heavy and fragile glass bottles in the pharmaceutical industry in the Asia-Pacific region. For instance, it is possible to transport 30,000 100-ml PET bottles in a truck, as opposed to only 18,000 glass bottles, according to the PACE and NCL 2019 study. This reduces the transportation cost and environmental impact.
- Moreover, the pharmaceutical market in the region is growing, with the presence of countries like China, India, and Japan, among others, where the demand for pharmaceutical products is increasing due to the population and rising diseases.
- The healthcare and pharmaceutical sector in China is one of the world's largest markets, primarily driven by its aging population. According to Pharmaceutical Technology, the value of China's pharmaceutical market was forecast to surge to almost USD 574 billion by 2022. Hence, there is a growing possibility for the domestic players, as they might experience an increase in the demand for PET bottles from these companies.
- With the COVID-19 outbreak and measures taken to curb the spread of the virus, PET bottles such as hand sanitizer and handwash bottles have seen a surge in demand, which is likely to continue for the next year or two. Likewise, the manufacturing capability will also see a shift in production towards such trends,
Asia Pacific PET Packaging in Pharmaceutical Industry Segmentation
Bottles - Rigid plastic container with an open cap medium or a dispensing interface (such as a dropper, nozzles, threaded caps, pumps, sprays, etc.) that are primarily used by the manufacture to packing liquid, oil, or semi-solid products are considered under this category.
Product Type | |
Tablet Bottles | |
Syrup Bottles | |
Vials | |
Dropper Bottles | |
Handwash and Hand Sanitizer Bottles | |
Mouthwash Bottles | |
Other Product Types |
Color | |
Transparent | |
Green | |
Amber |
Country | |
China | |
India | |
Japan | |
South Korea | |
Rest of Asia-Pacific |
Asia Pacific PET Packaging Market in Pharmaceutical Sector Size Summary
The Asia-Pacific PET packaging market within the pharmaceutical sector is experiencing significant growth, driven by the increasing preference for plastic packaging due to its lightweight and cost-effective nature. The region's pharmaceutical industry, particularly in countries like China, India, and Japan, is expanding rapidly, fueled by a growing population and rising healthcare demands. PET (polyethylene terephthalate) is becoming the material of choice for packaging solutions in this sector, as it minimizes raw material loss during production and offers safety and quality standards that meet industry requirements. The shift from glass to PET bottles is notable, as PET provides substantial weight reduction, enhancing transportation efficiency and reducing costs. This transition is further supported by the rising demand for PET bottles in various end-user industries, including pharmaceuticals, due to their recyclability and transparency, which appeals to consumers.
The market landscape is characterized by the presence of major players who are actively innovating and forming strategic partnerships to maintain their competitive edge. The growth of the pharmaceutical sector in the Asia-Pacific region is also linked to initiatives like China's Healthy China 2030, which aims to advance drug development, and India's focus on aligning product portfolios with prevalent diseases. The demand for PET packaging is expected to rise, particularly for products like nasal spray bottles, driven by increasing health concerns such as sinusitis. Additionally, the region is witnessing a strong emphasis on recycling PET bottles, with countries like China and Japan leading in recycling efforts. This focus on sustainability, combined with the robust growth of the pharmaceutical industry, positions the Asia-Pacific PET packaging market for continued expansion in the coming years.
Asia Pacific PET Packaging Market in Pharmaceutical Sector Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Industry Ecosystem Analysis
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1.3 Market Drivers
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1.3.1 Increasing spending on healthcare and Pharmaceutical to augment the market growth
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1.4 Market Challenges
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1.4.1 Environmental Concerns Regarding the Use of Plastics
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1.5 Industry Attractiveness - Porter's Five Forces Analysis
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1.5.1 Bargaining Power of Suppliers
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1.5.2 Bargaining Power of Consumers
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1.5.3 Threat of New Entrants
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Tablet Bottles
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2.1.2 Syrup Bottles
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2.1.3 Vials
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2.1.4 Dropper Bottles
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2.1.5 Handwash and Hand Sanitizer Bottles
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2.1.6 Mouthwash Bottles
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2.1.7 Other Product Types
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2.2 Color
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2.2.1 Transparent
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2.2.2 Green
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2.2.3 Amber
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2.3 Country
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 South Korea
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2.3.5 Rest of Asia-Pacific
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Asia Pacific PET Packaging Market in Pharmaceutical Sector Market Size FAQs
What is the current Asia Pacific PET Packaging Market in Pharmaceutical Industry size?
The Asia Pacific PET Packaging Market in Pharmaceutical Industry is projected to register a CAGR of 5.10% during the forecast period (2024-2029)
Who are the key players in Asia Pacific PET Packaging Market in Pharmaceutical Industry?
Senpet Polymers LLP , Total PET (Radico Khaitan Ltd) , Ganesh PET, ALPHA GROUP and Gerresheimer AG are the major companies operating in the Asia Pacific PET Packaging Market in Pharmaceutical Industry.