Global Child Resistant Packaging Market - 2021-2028
Child-resistant packaging is a sort of unique packaging used to minimize the danger to children who ingest toxic substances. This is done by using special safety cap. The surge in the packaging of child-resistant drugs would direct the growth of the market during the timeframe forecast. Additionally, rapid urbanization, growing number of infants, rise in awareness regarding child safety and surge in disposable income positively affect the child resistant packaging market. The global child resistant packaging market valued USD XX million in 2020 and is forecasted to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
The increase in demand for the child resistant solutions to prevent accidental ingestion of hazardous materials by kids across the globe
Growing awareness about child safety and children's risk of ingesting hazardous chemicals and drugs are drivers for the growth of the demand for child-resistant packaging. The standards and regulations for packaging of drugs and chemicals in the child resistant packaging make the essential packaging solution for homecare toiletries, pharmaceuticals, and chemical & fertilizers. The manufacturers of consumer products are also adopting child resistant packaging to draw more consumers by showing concern for child health. In addition, in January 2016 new packaging standards were introduced in the country where household products including liquid nicotine were listed under the Child Nicotine Poisoning Prevention Act. According to the regulation, special packaging should be the packaging that cannot be opened by children under five years of age and can consumer it properly. This will pave the way for the growth of child resistant packaging market.
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.
However, high fluctuations in the prices of raw materials used in making child resistant packaging products is expected to hinder the market growth.
Pharmaceuticals is by far the largest segment holding about XX% of the global market
The pharmaceutical industry is expected to dominate the global child-resistant packaging market during the forecast period, due to new regulations and developments for drug packaging. In pharmaceutical industry the child resistant packaging is essential for the over-the-counter drugs, medical kits, syringes and prescription medicines. The CR packaging is essential to prevent the children from the harmful chemicals and poisoned substances.
The CR packaging is also used in the storage of automotive chemicals, oils, carburetor cleaners, solvents, metals cleaners and adhesives for preventing the children from direct exposure to these materials. Moreover, the child resistant packaging containers uses a special lid type caps that are difficult to access by children. The child resistant packaging containers are used for storing harmful pesticides and fertilizers that keeps away the children to gain access to these substances.
North America is the largest market for child resistant packaging market
North America is the largest market for child resistant packaging market with a share of nearly XX% in global sales value in 2020. The overall growth in the pharmaceutical industry and child care regulations are the important motives in the development of child resistant packaging market in North America. In the North American child resistant packaging market, United States is projected to witness fast-paced growth during the forecast period. According to NCBI, nearly 50,000 incidences of child poisoning cases are observed in children under the age of 6 years, per year in the United States. Besides that, a large proportion of these poisonings have been reported due to tobacco-related products such as cigars and smokeless tobacco. Hence in 2015, the U.S. FDA has released notice of proposing a law that will boost the child-resistant packaging for drugs such as nicotine & other tobacco products like dissolvable & gels. According to the World Health Organization and UNICEF 's Global Report on Child Injury Prevention, "Child-resistant packaging is one of the best-documented developments in preventing children from being accidentally poisoned."
The global child resistant packaging market is fragmented and highly competitive. Key players operating in the global child resistant packaging market are Constantia Flexibles Group GmbH, Amcor Limited, Bemis Company, Inc, and Berry Global among others. Companies in the global child resistant packing market are increasing interest in the development of products with consumer-friendly design. To achieve this motive, they are investing time and money in the research and development activities. This aside, many companies in various industries across the globe are complying strict policies pertaining to the packaging of lethal products and several household items such as chemicals, medicines spray products for pharmaceuticals, and cleaning products. The launch of new generation technologically advanced child resistant packaging products can boost the growth of the child resistant packaging market. For example, in January 2020, one of the global leaders in child resistant packaging Origin Pharma packaging launched a new child resistant jar that is especially designed for the tobacco and cannabis industry. The new CR jar prevents the children to get access to the contents in the jar. Parkway Plastic Inc., announced the launch of new Plastic Jar & Cap Combo Cases. Through this launch, the company will be sold plastic jars and lids together in a single box.
COVID-19 Impact: Pandemic had a negative impact on global child resistant packaging market
The demand for the child resistant packaging is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from food & beverages and pharmaceutical industry. COVID-19 crisis is likely to affect the child resistant packaging industry negatively, as a result of halted manufacturing and massive reduction in demand for luxury and non-essential services globally. COVID-19 crisis had a mixed impact on the packaging industry, mainly due to closure of physical retail stores globally.
Industrial, transportation, and bulk packaging has faced a sharp decline, owing to decreased demand for non-essential goods during the first two quarters of 2020. Owing to the lowered disposable income of maximum population and weak demand for packaging from industrial goods, the packaging industry might face significant pressure of reduction in both wholesale as well as retail costs. Consumers are likely to stay hesitant for consumption of luxury products, travel, and hospitality services, which is expected to hinder the packaging industry growth in the future after the COVID-19 crisis.
However, the availability of online retailing has absorbed the high impact of this shutdown. The requirement of eCommerce specific packaging is likely to remain strong, although the ecommerce companies would have to focus on protection of goods and sanitization of packages. In addition, the food packaging industry is on the frontline within the global packaging market, owing to the demand for essential products such as groceries and fresh food mainly from local e-retail sites.