In terms of value, sales of packer bottle is estimated to be valued at over US$ 3,500 Mn in 2017 and is forecast to reach a market valuation in excess of US$ 6,600 Mn by 2027 end, witnessing almost 2X increase in revenue between 2017 and 2027, at a projected CAGR of 6.4%.
Easy availability of petroleum based raw material in North America boosting the packer bottle market
Traditionally glass was the only preferred material for pharmaceutical bottles as its offers resistance to chemical contents for pharmaceutical products. But the fragile and heavy-weight characteristics of glass pose a challenge at the time of transporting the products leading to product damage, and ultimately affecting the revenue of the manufacturer. As an alternative solution, manufacturers of glass bottles substituted their raw material to plastic which is light weight and unbreakable, such as High-Density Polyethylene (HDPE), Polyethylene (PP) and other forms of plastic which are comparatively cheaper than glass. In 2016, the U.S produced 8.8 million barrels of oil per day and is the third largest producer of oil while Canada produced 3.8 million barrels of oil per day, and is the sixth largest producer of oil in the world. With such ease of plastic raw material availability, it offers a cost saving to stakeholders across the value chain. Also, advancement in technology has substantially pushed the demand for bulk plastic raw material at cheaper cost.
Faster flow of information among manufacturers has resulted in eliminating futile costs in the APEJ region
APEJ pharmaceutical marketing has witnessed a structural change over the last decade with technology and socioeconomic changes playing a leading role in the innovation of pharmaceutical products. Pharmaceutical companies are witnessing the convergence of four key technologies – social media, mobile computing, analytics and cloud computing. These factors have fastened the process of information flow, which has made communicating with users more efficient. Moreover, such technological changes have increased the profit margin in the value chain which is benefitting the manufacturer, wholesaler, retailer and also the end user. Subsequently it has resulted in continuous innovation, which has surged the sales for packer bottle manufacturers in the APEJ region.
Increasing adoption of blister packaging hampering the growth of the packer bottle market in North America
The last five years have recorded a significant growth in the global supply of generic drugs and Over the Counter (OTC) drugs. In the U.S, more than 100,000 OTC drugs products are projected to have been marketed and sold in convenience stores and pharmacies. Also, several U.S pharmaceutical companies have been hit by the high manufacturing costs of OTC drugs and medicines, thereby shrinking their spending capacity. This cost is eventually passed on to packaging companies, which are taking the up gradation of packaging standards into consideration to develop packaging solutions that tackle the anti-counterfeit market. To save costs, manufacturers are considering the blister packaging format for packing generic and OTC drugs, which is significantly impacting the revenue of packer bottles in the U.S.
Global Packer Bottle Market Analysis by End Use
The pharmaceutical end use segment will gain 10 BPS points and is expected to dominate with more than 90% share of the packer bottle market over the forecast period. The pharmaceutical and food and beverage segments are cumulatively estimated to create incremental opportunity of US$ 3,173 Mn, witnessing a growth of 2X between 2017 and 2027. In terms of consumption, the pharmaceutical segment was pegged at 71,113 Mn Units in 2016, which is estimated to showcase an overall growth of 1.8X between 2017 and 2027. Furthermore, sales of packer bottles in the pharmaceutical segment will increase by 93.2% during the forecast period.
With a surging demand in the pharmaceutical industry, the packer bottle market is receiving a huge boost
The packer bottle market has witnessed a notable CAGR increase over the last decade due to the easy availability of petrochemical raw material for manufacturing plastic packer bottles. Packer bottles earlier were significantly produced in the regions of North America and Western Europe, and are now gaining sizeable footprints in the Asia Pacific excluding Japan (APEJ) market as well. With a surging demand in the pharmaceutical industry, the demand for tablets and capsules application packer bottles is increasing. On the basis of material type, the plastic material is expected to remain the primary material choice for producing packer bottles due to its excellent chemical barrier properties. Also, one of the highlights in the packer bottle market is the inclination of manufacturers to provide anti-counterfeit packer bottles, which displays authenticity.
The North America and Asia Pacific excluding Japan (APEJ) market for packer bottles is expected to witness the highest growth rate of 2X in terms of value and 1.9X in terms of volume, owing to increasing machinery and product development, which has aided manufacturers to increase the productive output. The market will witness a surging growth for amber coloured glass bottles that have the property of reflecting Ultra Violet rays and thereby increasing the shelf-life of medicines.
Future Market Insights presents a comprehensive and insightful report on the global packer bottle market titled ‘Packer Bottle Market: Global Industry Analysis and Opportunity Assessment 2017 - 2027’. The report begins with an elaborate executive summary which has the important market numbers related to the global packer bottle market such as the market values for the year 2017 and 2027 and the most attractive segments and regions in this market. The executive summary also gives a concise list of drivers, restraints, opportunities and trends operating in the global packer bottle market which are dealt in detail in another exclusive section of this report. The executive summary also has a list of prominent players operating in the packer bottle market. In the executive summary, there is also a concise and yet informative Future Market Insights analysis on the target colour type, target end use, target material and target region in the global packer bottle market. At the end of the executive summary, the global packer bottle market share by region, by end use, by material type, by colour type, by capacity size type, by bottle shape type and by application type for the year 2017 are given. After the executive summary, there is a section on the market introduction that gives detailed information regarding the market definitions of the packer bottle market based on its various applications, end uses, capacity and type of material used.
Capacity Size Type
Bottle Shape Type
A section of the report is devoted to the global industry overview of the parent market of packaging. After this section, an overview of the films market is also given. Another section of the report is devoted to the packer bottle market value chain analysis. After this, a section of the report features Porter’s Five Forces analysis which focusses on the level of competition in the packer bottle market. It also analyses the bargaining power of buyers, bargaining power of suppliers, degree of competition, threat of new entrants and threat from substitutes. After this section, region-wise projected growth of the packer bottle market is presented. This is followed by listing the opportunities available in the global packer bottle market. Subsequent sections of the report contain information about the regional market analysis and forecast (2017-2027) of the packer bottle market as per the regions given in the market taxonomy. These sections contain a detailed subsection on the market dynamics of the packer bottle market. Along with this, there is an exhaustive explanation of the drivers, restraints and trends in the packer bottle market applicable to that particular region. This is an important subsection of the report as it contains a detailed explanation about the factors that encourage the growth of this market as well as the factors that hamper the growth of this market. Besides this, weightage of impact of the forecast factors is also given in this subsection. The regional subsections of this report contain important market information in the form of packer bottle market size (US$ Mn) forecast by country, by application, by end use, material type, colour type, capacity size, and by bottle shape. Market attractiveness index for each of these segments is also given.
An entire section of the report is devoted to the competition landscape of the global packer bottle market. This competition landscape gives a dashboard view of the key companies operating in the global packer bottle market along with their important information and broad strategy adopted to stay as leaders in the global packer bottle market. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and strategic analysis is presented. A SWOT analysis of each leading market player is also presented which gives detailed information about the strengths, weaknesses, opportunities and threats that the company is dealing with. This competition landscape is the most important section of the report as it imparts a deep understanding of the leading companies operating in the global packer bottle market.
Overall market size has been analysed through historical data, primary responses, and public domain data. Revenue of companies in the packer bottle market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated using the triangulation method and is extensively scrutinised using advanced tools to garner quantitative and qualitative insights into the global packer bottle market.