Global Tamper proof packaging market is expected to grow at a CAGR of 7% to 8% during the forecast period (2021-2031). Increasing demand for tamper evident packaging in various end-use industries such as food & beverages, pharmaceutical, cosmetics & personal care industry and growing disposable incomes of consumers across the globe are boosting the market growth.
With increasing incidences of counterfeit products especially in emerging Nations, there has been a rise in the demand for a form of packaging which is tamper-proof as well as intelligent. This has resulted in the adoption of intelligence tamper-proof packaging market which is a sign of authentic and real product present inside the packaging.
What is Driving Demand for Tamper Proof Packaging?
The global tamper proof packaging market is driven by changing preference towards flexible packaging solutions, low cost of storage, low use of material, and low transport cost. Rising concerns regarding safety are fueling the market growth across the globe positively. The growing food & beverage industries across the globe are estimated to drive the market during the forecast period.
However, the strict regulations especially in the pharmaceutical industry call for the testing of tamper-evident packaging and the observance of the packaging to guidelines that have been laid down. This is estimated to restraints the market growth in the forecast period.
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Food and Pharmaceutical Industry Expected to Drive the consumption of Tamper Proof Packaging
The growing trend of ready to eat, as well as packaged food consumption on account of the changing lifestyles of the people and their increased income is benefiting the growth of this Market.
Rising demand for of Ready-to-Eat meals, packaged foods, frozen foods, and instant food products will help the market for intelligent tamper-proof packaging to grow. With supermarkets, hypermarkets, and utility stores changing the entire landscape of shopping for food and beverage products, there has been a rise in the need for intelligent tamper-proof packaging as this form of packaging boost the shelf life of the product within, by maintaining its freshness as well as its nutritional value throughout the supply chain.
The U.S. Food and Drug Administration has strictly enforced tamper-evident packaging for pharmaceutical manufacturers in various countries are driving the market growth in a positive way. The increasing expanding growth of the pharmaceutical industry, which is expected to fuel the global tamper-evident packaging market during the forecast period. The increasing concerns regarding healthcare and safety are thus also propelling the market growth.
Asia-Pacific Tamper Proof Packaging Market outlook
The Asia Pacific is estimated to witness growth with the highest CAGR in the market during the forecast period owing to the strong expansion of the pharmaceutical, food & beverages, and cosmetics industry in this region. Rising disposable income of consumers and the growing urban population in developing countries such as India and China are projected to propel the tamper proof packaging market growth in the forecast period.
Growing consciousness regarding food safety among consumers and changing lifestyles of consumers are also anticipated to drive the tamper proof packaging market growth in a positive way.
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North America Tamper Proof Packaging Outlook
North America is expected to hold the largest share in the market during the forecast period owing to regulatory mandates and high awareness regarding product safety among consumers. Rising demand for tamper-evident packaging is inevitable and several factors are already driving the market growth in a positive direction.
The FDA or U.S. Food and Drug Administration has imposed stringent rules and regulations on the pharmaceutical industry regarding the packaging of medicines and drugs along with the strict testing protocols which are estimated to stimulate the growth of the tamper-evident packaging market in coming years.
Who are the Key Manufacturers and Suppliers of Tamper Proof Packaging
Some of the leading manufacturers and suppliers of tamper proof packaging
Key suppliers are focusing on increasing the manufacturing capacity and supply of the tamper proof packaging as increase in global demand of it. Consistent efforts are being taken by market players in order to reduce the cost of development.
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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