Overview of the intravenous (IV) product packaging market
According to the analysts at Technavio, the global intravenous (IV) product packaging market to witness steady growth and will post a CAGR of more than 6% over the forecast period. An increasing aging population around the world is one of the key factors driving the growth prospects of this market in the coming years. With aging, the risk of developing various health problems such as inflammation of kidneys, diabetes, urinary tract infections, and urinary incontinence increases. This considerably increases the use of medical devices and products, which will, in turn, lead to an augmented demand for IV product packaging.
End-stage renal disease (ESRD) is a disorder in which the kidney is no longer able to perform the renal functions and support the patient’s body. The common causes of ESRD are diabetes and hypertension and is considered to the last stage of chronic kidney disease. By 2015, nearly 700,000 people in the US were diagnosed with ESRD. Therefore, an increasing global prevalence indicates a general rise in the number of people requiring care of ESRD. This is anticipated to result in an increase in the number of surgeries, leading to an increasing use of cannulas and IV bags over the forecast period.
Product segmentation and analysis of the IV product packaging market
- IV bags
During 2015, the IV bags segment dominated the market and accounted for close to 99% of the market share in terms of revenue. IV fluid bags are used to hold intravenous liquid, which is used for several purposes like maintaining the basal hydration level, correcting electrolyte imbalances, and expanding the intravenous volume in the hypovolemic state of a patient, among others. The analysts have estimated factors such as an increasing aging population around the world will impel the growth
Overview of the global vials packaging market
Technavio’s market research analyst predicts that the global vials packaging market will grow at a CAGR of more than 11% by 2020. Stringent government regulations and industry standards for packaging of pharmaceutical related products have a positive impact on the growth of the vials primary packaging market. As per the Food and Drug Administration (FDA) regulations in the US, pharmaceutical drugs need high barrier packaging materials and sealants that are impermeable and resistant to solvents, grease, chemicals, and heat for better security protection. Several developing countries like China and India have upgraded their industry standards for vials packaging of medical supplies to maintain quality, safety, and reduce breakage, spillage, and contamination. Increased government regulations and standardization related to pharmaceutical devices and products are compelling the vendors to upgrade their products, which will increase the demand for vials primary packaging during the forecast period.
Packaging companies are focusing on the use of superior quality plastic materials such as cyclic olefin copolymer (COC) and cycloolefin polymer (COP) because of their exceptional barrier characteristics. These materials exhibit a unique combination of properties such as low density, excellent moisture barrier capabilities, high transparency, and resistance to aqueous and polar organic media. COCs are ten times less permeable to
Global market outlook for stand-up pouches
Technavio’s market research analyst predicts the global stand-up pouches market to grow at a CAGR of more than 8% by 2020. Manufacturers and consumers prefer stand-up pouches as they are easily portable, lightweight, easy to handle, and reduce shipping expenses. The increase in demand for packaged food and beverages from consumers across various developed and developing countries is driving the growth of the stand-up pouches market. Generally, consumers prefer to buy food products that are of high value and quality and have a longer shelf life. This has pushed vendors to develop effective convenient packaging solutions in the market such as spouts and fitments, zip seal closures, and pour spouts. This recent increase in the preference for packaged food and beverages is expected to boost the sales of flexible packaging materials, which in turn will fuel the demand for stand-up pouches over the next four years.
A recent trend emerging in this market is the increasing use of high-barrier flexible packaging products. Pouches made from high-barrier flexible materials have higher performance than other packaging products as they are developed using specialized coatings and laminated structures along with resins. Some of the high-barrier plastics used in the development of pouches include
Overview of the global contract packaging market
Technavio’s market research analyst predicts the global contract packaging market to grow at a CAGR of more than 10% by 2020. One of the major advantages of contract packaging is the overall reduction of operational costs for manufacturers. Contract packaging helps manufacturers to reduce the cost of operations like the expenses on packaging machines, and warehouse, transportation, and labor management costs. They also offer multiple packaging options to end-users and help them to handle a high volume of products without any delay. Furthermore, many 3PL companies are also entering into the contract packaging business, with warehouse and transportation as their key offerings.
With growing environmental concerns, several manufacturers are opting for bio-based raw materials for manufacturing packaging products. Consumers and manufacturers prefer sustainable packaging because it is environment-friendly, recyclable, and reusable. The growing use of corrugated boxes is one of the latest developments in the market, especially in terms of sustainable packaging. Owing to the huge demand for sustainable packaging solutions, the manufacturers are shifting towards the use of
Overview of the meat, poultry, and seafood packaging market in the US
Technavio’s market research analyst predicts the meat, poultry, and seafood packaging market in the US to grow at a steady CAGR of more than 4% by 2020. At present, pouch packaging is gaining popularity in the meat, poultry, and seafood packaging market in the US. Consumers prefer pouches as they are easy to use, are compact and lightweight, and are convenient while traveling. Several meat, poultry, and seafood packaging companies such as Amcor and Bemis are using retort pouch packaging as it can be easily customized in terms of design and size. Pouch packaging provides immense scope for the creation of new designs and sizes and can be customized based on the demand from consumer goods manufacturers. Such advantages have propelled vendors to encourage the use of pouch packaging in this market.
The market is witnessing a huge surge in the demand for high-barrier packaging as it has higher performance
Overview of the global industrial packaging market
Technavio’s market research analyst predicts the global industrial packaging market to grow at a steady CAGR of more than 3% by 2020. At present, the market is witnessing the increased use of plastic sacks, which are increasingly being preferred by both industrial buyers and consumers. The plastic packaging sacks are replacing paper and jute packaging because of their versatile properties like flexibility, durability, lightweight, and low cost. Moreover, such a packaging material is suitable for all types of packaging products, including food, chemicals, and fertilizer. The demand for plastic packaging is on the rise because of the increasing demand for convenience food from consumers across the globe. The growing need for plastic-based flexible packaging products will largely contribute to the growth of the overall market in the coming years.
Increasing competition in the market has encouraged the vendors to introduce new and advanced products, thereby, creating the requirement for customized packaging. Several companies are providing customization in the types of containers to suit their customers' specifications as limited stock sizes impair the sales. The various changes in packaging include customization in the capacity of boxes and containers in terms of length, breadth,
Packaging plays a significant role in transportation and warehousing, and is an important aspect of the distribution chain. The global packaging industry is highly innovative because of the technologies used to enclose and preserve products during storage and sale.
Market research into the packaging sector is broadly segmented into rigid packaging and flexible packaging.
Flexible packaging is experiencing a huge boom in popularity thanks to its light weight, which results in lower shipping and handling costs.
Technavio’s packaging portfolio includes market reports on rigid packaging (metal, glass, and rigid plastics), flexible packaging (plastics, papers, and foils), packaging machinery, and processing machinery.