The global sales of child resistant pipette closures are estimated to be worth USD 424.9 million in 2021 and are anticipated to reach a value of USD 764.6 million by 2031. Sales are projected to rise at a CAGR of 6.1% over the forecast period between 2021 and 2031. The revenue generated by child resistant pipette closures in 2020 was USD 400 million.
The child safety regulatory pressures increase and the awareness about hazardous substances is driving the market for child resistant pipette closures. The regulatory bodies also impose strict safety standards at various parts of the world, which requires sophisticated closure technologies to avoid accidental ingestion by children.
The growth in the pharmaceuticals and the chemical industries that need secure packaging solutions also boost the demand for this market. Other current trends are pegged on innovations in design, such as more user-friendly closures with improved security features. Other driving forces for market growth also come from an increasing consumer focus on safety and convenience; this is also varied as manufacturers have to adapt to these changing consumer needs.
Global Child Resistant Pipette Closures Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 400 million |
| Estimated Size, 2021 | USD 424.9 million |
| Projected Size, 2031 | USD 764.6 million |
| Value-based CAGR (2021 to 2031) | 6.1% |
Government agencies have imposed strict restrictions requiring the use of child-resistant pipette closures on products that could endanger the health of children around the world. In the United States, the Poison Prevention Packaging Act (PPPA) specifies which items must be packed with child-resistant pipette closures.
Drugs and dietary supplements, chemical goods, and mouthwash prods and cosmetic products are few of the items on the list. The market is expected to increase at a significant rate as a result of the implementation of severe laws regarding the use of Child resistant pipette closures.
Child resistant packaging products, such as pipette closures, are receiving more attention. Pharmaceutical packaging producers are focusing on child-resistant container types like droppers, caps and closures. According to the European Child Safety Alliance, every year in Europe, 3,000 children under the age of 14 die from acute poisoning after acquiring access to pharmaceutical items.
Furthermore, according to the WHO, poisoning was responsible for 4% of global child injury deaths (0-17 years of age) in 2018. As a result, manufacturers are concentrating on the development of child-resistant packaging, such as pipette closures. More advancements are projected to open up new growth potential for the global pipette closures market.
In terms of revenue, North America had the largest market share of the child resistant pipette closures market in 2021. Over the projected period of the research, the regional market is expected to remain the most attractive and promising market with US holding around 80% of the North America’s market share by value.
Well-established pharmaceutical packaging business, as well as a strong predilection for bottles as a product type, can be credited with the growth of region. Over the forecast period, the North American market for child resistant pipette closures is predicted to grow at a CAGR of more than 7 percent, with sales concentrated in the United States.
Because of the constantly developing pharmaceutical and pharmaceutical packaging sectors, the markets in Europe and Asia Pacific are projected to stay competitive and present attractive growth possibilities. Over the forecast period, the Europe market is expected to grow at a CAGR of more than 4.5 percent.
By the end of 2025, the APAC market is estimated to increase at a CAGR of over little 6 percent, accounting for one third of total market volume.
The Latin American market for child-resistant pipette closures is predicted to account for less than 10 percent of the global market revenue share and increase at a CAGR of 4.5%. Overviewing the market scenario for different regions, the market for child resistant pipette closure stands lucrative over the forecast period.
The global child resistant pipette closures market is classified into three types of closures that is push & turn, squeeze & turn, and others. By the end of 2025, push and turn closure is predicted to command a global revenue share of more than half the total market. While others segment are set to witness substantial growth during the assessment period.
Secondly, pharmaceuticals, household and personal care, chemicals and food and beverage, are the end-use segments of the global market. By the end of 2025, the Pharmaceuticals category is estimated to account for more than two third of total market revenue. As the product finds it extensive use case in the pharmaceutical industry.
Adding to that, the global market is divided into four categories according on material type: PP, LDPE, PE, and Others. Because of its chemical inert qualities and lack of reactivity with the packaged product, PP is projected to dominate among the various material type during the upcoming period.
Moreover, the global market is divided into tamper evident and non-tamper evident segments based on tamper evidence. Throughout the forecast period, the tamper evident category is expected to maintain its dominance. Tamper-evident closures, as well as a child-resistant feature, ensuring that the product is carried in its original condition.
The aforementioned factors showcase the segment wise scenario for the child resistant pipette closure market enabling higher growth prospective for new investors looking for revenue generation.
are the prominent players listed across the value chain of the child resistant Pipette closures market.
Virospack's CRC and tamper-resistant solutions have taken the packaging market to next level. In June 2019, their safe droppers have received child-resistant certification from the Code of Federal Regulations. The development of the magnetic dropper with a magnetic seal is another notable progression in their unique techniques that has propelled them to the pinnacles of success.
Product diversification techniques, numerous sales channels, and product warehousing are being used by newer entrants to try to acquire a portion of the global market. Front runners has also created a number of pipette closure inserts in a variety of sizes and materials, demonstrating their product extension capabilities.
To acquire broader coverage, the producers have streamlined their supply chain network with modern trade channels, pharmaceutical outlets, and an online channel. The market is moderately fragmented, with a large number of regional companies competing on the price of child resistant pipette closures.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Child Resistant Pipette Closures Market
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