India Pharmaceutical Packaging Market Outlook to 2028

India Pharmaceutical Packaging Market Overview

The India pharmaceutical packaging market was valued at USD 5.8 billion in 2023, which is expected to grow at a CAGR of 7.8% for the period of 2023-2028. Factors contributing to this growth include the expansion of the pharmaceutical industry, increased healthcare spending, and regulatory requirements for safe packaging.

Key players in the market include Amcor Limited, Gerresheimer AG, West Pharmaceutical Services, Inc., Uflex Ltd, and Piramal Glass. These companies focus on product innovation, strategic partnerships, and mergers & acquisitions to strengthen their market position.

In 2023, Amcor announced it had agreed to acquire Phoenix Flexibles, extending Amcor's capacity in the high-growth Indian market. Amcor already has four flexible packaging plants in India and is investing to double its local footprint in the pharmaceutical and medical packaging categories.

India Pharmaceutical Packaging Current Market Analysis

The market is highly competitive with several key players investing in innovative packaging solutions. The demand for eco-friendly and sustainable packaging materials is also rising, driven by environmental concerns and regulatory pressures so there are innovations among prefilled syringes and single-dose containers, which enhance patient compliance and safety.

Blister packs are among the bestselling products in the pharmaceutical packaging market due to their ability to protect drugs from moisture, contamination, and tampering. The plastic bottles segment is the largest in the market, driven by their versatility, cost-effectiveness, and widespread use for packaging a variety of liquid and solid medications.

The Western region of India, particularly Maharashtra and Gujarat, dominates the pharmaceutical packaging market. Maharashtra alone accounted for approximately 35% of the market share in 2023, driven by its industrial base and access to ports for export.

India Pharmaceutical Packaging Market Segmentations

By Material Type: In 2023, the India pharmaceutical market segmentation by material type is divided into Plastic, Glass, Metal and Papers & Paperboard Plastic. Plastic is the dominant material due to its cost-effectiveness, lightweight, and versatility. It is widely used for manufacturing bottles, blister packs, and containers, making it a preferred choice for pharmaceutical packaging.

By Product Type: In 2023, the India pharmaceutical market segmentation by product type is divided into Oral drugs, Topical drugs, Injectables & Others. Oral drugs are the dominant product type due to their extensive use in packaging liquid medications, syrups, and other oral dosage forms. They provide excellent protection and are easy to handle and transport.

By Region: In 2023, the India pharmaceutical market segmentation by region is divided into Western, Eastern, Northern, and Southern India. The Western region, led by states like Maharashtra and Gujarat, dominates the India pharmaceutical packaging market due to its robust industrial infrastructure, proximity to major pharmaceutical manufacturing hubs, well-established logistics networks, and favorable government policies supporting industrial growth and innovation.

India Pharmaceutical Packaging Market Competitive Landscape

Company

Establishment Year

Headquarters

Amcor Limited

1860

Zurich, Switzerland

Uflex Ltd.

1985

Noida, India

Essel Propack Limited

1982

Mumbai, India

Piramal Glass

1984

Mumbai, India

SGD Pharma

1896

Puteaux, France

Launch of Flex Green by Uflex: Uflex Ltd. introduced Flex Green, an eco-friendly packaging solution designed to reduce environmental impact and enhance sustainability in pharmaceutical packaging, in 2023. Uflex's consolidated revenue grew from Rs. 7,432 crores in FY2020 to Rs. 13,237 crores in FY2022 because of these developments.

Essel Propack's Antimicrobial Tubes: In 2022, Essel Propack Limited launched a new range of antimicrobial tubes aimed at enhancing the safety and shelf-life of pharmaceutical creams and ointments. These tubes are designed to prevent microbial contamination, ensuring the integrity of the packaged products.

Piramal Glass's Expansion in Gujarat: Piramal Glass announced the expansion of its manufacturing facility in Gujarat in 2022, aiming to increase production capacity and meet the growing demand for glass packaging solutions. This expansion involves the installation of new production lines and the adoption of advanced technologies to enhance operational efficiency.

India Pharmaceuticals Packaging Industry Analysis

India Pharmaceuticals Packaging Market Growth Drivers

Rising Demand for Pharmaceuticals: According to the World Health Organization (WHO), India has one of the highest burdens of chronic diseases, with 72 million cases of diabetes and 54 million cases of cardiovascular diseases in 2023. This growing demand for pharmaceuticals necessitates advanced and secure packaging solutions to ensure drug safety and efficacy.

Technological Advancements in Packaging: Smart packaging, incorporating features like QR codes and RFID tags, enhances patient compliance and ensures the authenticity of pharmaceutical products. The adoption of smart packaging in the pharmaceutical industry is expected to grow by 15% annually, driven by the need for better drug monitoring and patient engagement.

Expansion of the Generic Drugs Market: The Indian Pharmaceutical Alliance (IPA) reported that the generics market grew by 10% in 2023. This expansion necessitates efficient and cost-effective packaging solutions to meet the growing demand. The rise in generic drug production also supports the need for diverse and adaptable packaging solutions.

India Pharmaceuticals Packaging Market Challenges

Stringent Regulatory Compliance: The pharmaceutical packaging industry faces stringent regulatory requirements to ensure drug safety and efficacy. Compliance with regulations such as CDSCO increases the complexity and cost of packaging operations. According to the FICCI, regulatory compliance costs account for approximately 20% of the total packaging costs for pharmaceutical companies in India.

Environmental Concerns and Sustainability: The Central Pollution Control Board reported that India generates approximately 3.3 million metric tons of plastic waste annually, this has led to increased pressure on packaging companies to develop eco-friendly and recyclable packaging solutions, which require substantial investment in R&D and can be cost-prohibitive for smaller players.

High Cost of Advanced Packaging Solutions: The adoption of advanced packaging technologies, such as smart packaging and tamper-evident solutions, involves high initial investment and operational costs. According to a report by the Indian Institute of Packaging (IIP), the cost of implementing smart packaging solutions can be 30-40% higher than traditional packaging methods.

India Pharmaceuticals Packaging Market Government Initiatives

Production Linked Incentive (PLI) Scheme: According to the Ministry of Commerce and Industry, the PLI Scheme has attracted investments worth USD 3 billion in the pharmaceutical sector, significantly impacting the packaging industry by driving demand for high-quality and innovative packaging solutions.

Ayushman Bharat: Launched in 2018, Ayushman Bharat is a national health protection scheme aimed at providing healthcare coverage to over 500 million citizens. According to the NHA, Ayushman Bharat has led to a 20% increase in the demand for essential medicines, directly impacting the pharmaceutical packaging market.

Make in India: The Make in India initiative, launched in 2014, aims to promote domestic manufacturing and position India as a global manufacturing hub. The initiative has positively impacted the pharmaceutical packaging industry by encouraging investments in local manufacturing facilities and reducing dependency on imports.

India Pharmaceuticals Packaging Market Future Outlook

India Pharmaceutical Market is projected to grow substantially by 2028. Factors contributing to this growth include the expansion of the pharmaceutical industry, increased healthcare spending, and regulatory requirements for safe packaging.

Future Market Trends

Adoption of Tamper-Evident Packaging: The adoption of tamper-evident packaging is anticipated to see substantial growth by 2028, driven by the need to ensure drug safety and prevent counterfeiting. According to the Indian Pharmaceutical Association (IPA), the implementation of tamper-evident solutions has increased by 25% in the last two years, reflecting the industry's commitment to ensuring the integrity and safety of pharmaceutical products.

Increased Use of Smart Packaging: The demand for smart packaging technologies, such as QR codes, RFID tags, and temperature-sensitive indicators, is projected to rise sharply. The the adoption of smart packaging in the pharmaceutical industry is projected to grow exponentially in the coming years.

Personalized Packaging Solutions: The rise of personalized medicine is expected to further drive the demand for customized packaging solutions tailored to individual patient needs. Personalized packaging ensures precise dosage, reduces the risk of medication errors, and enhances patient adherence to prescribed treatments.
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