CLEVELAND, Oct. 24, 2016 /PRNewswire/ -- Demand for packaging in the US is forecast to rise 3.5% annually through 2020. Gains will be supported by increases in nondurable goods output and growth in consumer spending. Food packaging is projected to remain the largest market segment, while pharmaceutical packaging demand is expected to rise 5.4% per year over the forecast period, the fastest pace among the leading markets.
These and other findings are featured in the report Packaging: United States.
Pharmaceutical Manufacturers Looking for Cheaper Packaging
Advances in pharmaceutical packaging demand will continue to be driven by increases in pharmaceutical shipments. Growth, however, will trail the upward pace of drug shipments as drug manufacturers remain more sensitive to package pricing than are consumers to medication prices. Profit pressures resulting from competing generics and the drug benefit schemes of managed care providers will continue to prompt US pharmaceutical manufacturers to pursue improved packaging efficiencies. Nonetheless, evolving consumer and medical provider preferences for unit dose and other convenient drug delivery formats will boost demand for high-value-added medication containers.
The new report forecasts US packaging demand and shipments in US dollars at the manufacturers' level to 2020. Total demand is segmented by market in terms of:
- foodservice disposables
- other markets such as personal care products, household and institutional chemicals, and agricultural and horticultural products.
Pharmaceutical packaging demand is measured in terms of the value of finished packaging sold by merchant companies and produced or assembled internally by pharmaceutical manufacturers and contract packaging firms. Geographic scope of pharmaceutical packaging demand includes Puerto Rico. Most major multinational drug makers operate production facilities and consume a significant volume of packaging in that territory.
Total shipments are segmented by material as follows:
- glass and wood.
To illustrate historical trends, total demand, total shipments, and the various segments are provided in annual series from 2005 to 2015.
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About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study.
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SOURCE The Freedonia Group