Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 26.47 Billion | USD 47.94 Billion | 6.82% | 2023 |
According to Zion Market Research, the global Child Resistant Packaging Market was worth USD 26.47 Billion in 2023. The market is forecast to reach USD 47.94 Billion by 2032, growing at a compound annual growth rate (CAGR) of 6.82% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Child Resistant Packaging industry over the next decade.
Child resistant packaging is a kind of specific packaging that is utilized for reducing the hazard to children consuming harmful substances. This is achieved through utilization of a special safety cap. Moreover, it is needed for regulating prescription medicines, over-the-counter drugs, and refill containers possessing nicotine EUTPD 36.7 pesticides, and chemicals used in homes. In addition to this, the use of unit packaging like blister packaging is controlled or even prohibited in some countries for purpose of child safety. Moreover, child resistant packaging is also used for oral prescription medicines as well as high risk drugs at homes.
Massive utilization of child-resistant containers for preventing child poisoning will favorably leverage the growth of the market in the years ahead. Need to reduce rate of child morality will result in huge product penetration across the globe. Apparently, surge in the child-resistant medicine packaging will steer the market growth during the forecast timeline. According to NCBI, each year in the U.S. nearly 50,000 incidences of child poisoning cases are witnessed in the children below the age of 6 years. In addition to this, a large proportion of these poisonings were reported to be due to tobacco-related items like cigars and smokeless tobacco. Hence in 2015, the U.S. FDA issued a notice of proposing a law that will boost the child-resistant packaging for products like nicotine & other tobacco items like dissolvable & gels. Moreover, special packaging standards were adopted in January 2016 in the country under which household items including liquid nicotine were classified under Child Nicotine Poisoning Prevention Act. As per laws, special packaging should be the packaging that children who are below five years age cannot open and adults can consume it in a proper way. These factors will pave a way for growth of the market in the years to come.
Moreover, dissolvable tobacco items like Camel Orbs® having candy-like appearance & mint or cinnamon flavor and Snus – an oral tobacco item- are responsible for child poisoning. In addition to this, e-cigarettes available in fruit & sweet flavors can pose a threat of poisoning to children. Hence, some of the manufacturers of these products have packaged their tobacco products in child-resistant packing containers like press & turn closures. Apparently, state authorities have enacted laws that has made it mandatory for pharma firms and tobacco manufacturing firms to wrap their products including gels liquids with child-resistant packaging. All these aforementioned factors will boost the market growth within the next few years.
The study provides a decisive view of the child resistant packaging market by segmenting the market based on by type covers, by applications and by region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.
By type covers segment analysis includes reclosable packaging, non-reclosable packaging, special blister packaging.
By applications segment analysis includes personal care, chemicals, pharmaceuticals.
The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Report Attributes | Report Details |
---|---|
Report Name | Child Resistant Packaging Market |
Market Size in 2023 | USD 26.47 Billion |
Market Forecast in 2032 | USD 47.94 Billion |
Growth Rate | CAGR of 6.82% |
Number of Pages | 110 |
Key Companies Covered | Amcor Limited, WestRock Company, Constantia Flexibles Group GmbH, Bilcare Limited, Winpak Ltd., Berry Global, Bemis Company, Inc, KushCo Holdings, Inc., Gerresheimer AG, and Global Closure Systems |
Segments Covered | By Type Covers, By Applications And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The growth of the market size in North America over 2024-2032 can be credited to massive incidences of child poisoning reported in the countries like the U.S resulting in humongous demand for child-resistant packaging in pharmaceuticals, chemicals, and cosmetics & personal care industries in the country. Apart from this, huge requirement for minimizing the child morbidity rate will drive the regional market trends. Additionally, strict laws enforced by U.S. FDA to inhibit child poisoning, special packaging norms & labelling requirements for household medicines, and enacting of Child Nicotine Poisoning Prevention Act by the U.S. will prompt the regional market revenue over the ensuing years.
Key players profiled in the report are-
By type covers:
By applications:
By Region
FrequentlyAsked Questions
Massive utilization of child-resistant containers for preventing child poisoning will favorably leverage the growth of the market in the years ahead.
The CAGR of the industry is expected to be nearly 6.82% during the forecast timeline.
North America will contribute remarkably towards the global market share over the estimated timeline.
The key market players include Amcor Limited, Constantia Flexibles Group GmbH, Berry Global, Bemis Company, Inc, KushCo Holdings, Inc., Gerresheimer AG, Bilcare Limited, WestRock Company, Winpak Ltd., and Global Closure Systems.
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