The global child-resistant containers market is anticipated to reach a valuation of US$ 21.8 billion in 2023, driven by safety regulations and compliance. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.5% between 2023 and 2033, and reaching a total valuation of approximately US$ 40.9 billion by 2033.
The legalization and growing acceptance of cannabis for both medical and recreational use in many parts of the world have significantly impacted various industries, particularly the pharmaceutical and cannabis industries. One crucial aspect that has been affected by this trend is the packaging of these products, leading to an increased demand for child-resistant containers.
The primary objective of child-resistant packaging is to prevent accidental ingestion or exposure of potentially harmful substances, especially by children. There is a heightened need for packaging that adheres to strict safety regulations and ensures that these products are inaccessible to children, with the legalization of cannabis and the increasing use of medicinal products.
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The rapid growth of e-commerce and home delivery services has led to a surge in concerns about secure packaging and product integrity during transit. Child-resistant containers are crucial in ensuring that products remain safe and tamper-proof during shipping and delivery, particularly for items that require protection from children’s access.
Key Takeaways from the Market Study
- Global child-resistant containers market was valued at US$ 20.5 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.3%.
- North America is expected to hold a dominant CAGR of 6.4% during the forecast period.
- By material type, polyethylene segment is expected to constitute a CAGR of 6.4% in 2033.
- On the basis of end use, pharmaceuticals segment is expected to dominate the market with a CAGR of 6.4% in 2033.
- From 2023 to 2033, child-resistant containers market is expected to flourish at a CAGR of 6.5%.
- By 2033, the market value of child-resistant containers is expected to reach US$ 40.9 billion.
“Eco-friendly packaging, across the globe, is a major factor that is expected to propel the growth of the child-resistant containers market in the near future,” remarks an FMI analyst.
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Competitive Landscape
Prominent players in the child-resistant containers market are Alpha Packaging, Berry Plastics Group, Inc., Gerresheimer AG, Origin Pharma Packaging, AptarGroup Inc., Berk Company, LLC., Pretium Packaging Corp., Amcor Ltd., Tim Plastics Inc., and Comar LLC., among others.
Recent Developments:
- In 2022, Closure Systems International (CSI) announced the development of a new child-resistant closure that is easier for adults to open.
- In 2021, AptarGroup launched its new “SmartLid” line of child-resistant containers with a built-in RFID tag that can be tracked and traced using RFID technology.
- In 2021, Berry Global announced the expansion of its child-resistant containers manufacturing capacity in North America.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global child-resistant containers market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the child-resistant containers market, the market is segmented on the basis of material type (plastic, polyethylene, polypropylene, pet, metal, steel, aluminum, glass, and others), by capacity (<100 ml, 200 ml to 500 ml, 500 ml to 1000 ml, 1000 ml to 2000 ml, and >2000 ml), and by end use (pharmaceuticals, food & beverages, home care, personal care & cosmetics, chemicals, and others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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