Hand sanitizer sachets gaining high demand in North America
North America sachet packaging in the pharmaceuticals market is expected to surpass US$ 612.1 million (approximately Rs 4,541 crore) by 2027, exhibiting a CAGR of 5.3% during the forecast period (2020-2027). The growth of sachet packaging in the pharmaceuticals market in North America is expected to be driven by the rising benefits of sachet packaging in terms of pharmaceuticals. Sachet packaging offers pharmaceutical producers to offer pre-measured single-dose packages that provide just the right amount of product inside, ultimately reducing product waste. The aluminum foil present in sachets creates a protective barrier that keeps contaminants such as moisture, oxygen, and light away from the medical products. This extends the shelf life of pharmaceuticals, which makes them safer for the patients. The advantages offered by sachet packaging are expected to drive its demand from the pharmaceutical industry over the forecast period.
Among countries, the US accounted for a significant market share in 2019. OTC drugs provide affordable treatment options for the consumers and these drugs help to increase access to treatment, this is expected to drive market growth for sachet packaging in pharmaceuticals in North America over the forecast period. For instance, according to a report released by the US Consumer Healthcare Products Association (CHPA) in 2019, the availability of OTC medicines provides US$146 billion (approximately Rs 10,83,299 crore) in value to the US healthcare system annually.
Among packaging sizes, the 01-10 milliliter segment accounted for the largest revenue share of 56.6% in the North America sachet packaging in the pharmaceuticals market in 2019. Hand sanitizers have been gaining increasing demand from the past couple of years and the 01-10 milliliter easy-to-carry hand sanitizer sachets have been in high demand too. These sachets are easy to transport, manufacture, and use and hence have been gaining high demand in North America.
Major players operating in North America sachet packaging in the pharmaceuticals market include Ahlstrom-Munksjo, Amcor plc, American Flexpack, Constantia Flexibles, Glenroy, Multi-Pack Solutions LLC, Ropack, Sharp, Synchpack, and Tripak Pharmaceuticals.
Key players operating in the North America sachet packaging in the pharmaceuticals market are focusing on various strategies such as the expansion of their production facilities, in order to strengthen their market presence and expand their product portfolio. For instance, in April 2019, Multi-Pack Solutions LLC expanded its existing Greenville County operations. The company also expanded its production and sales operations facility at the South Carolina Technology and Aviation Center.
The overall increasing demand for pharmaceuticals is expected to drive the market growth of North America sachet packaging in pharmaceuticals during the pandemic. For instance, according to the US Consumer Healthcare Products Association (CHPA), among OTC drugs hand sanitizer sales were up by over 600% to reach US$ 1.46 billion (approximately Rs 10,832 crore), while sales of consumer medical devices increased by 15.6% to reach US$ 14.8 billion (approximately Rs 1,09,813 crore) in 2020. The Covid-19 pandemic has created an unprecedented demand and urgent need for disinfectants and hand sanitizers. However, manufacturing companies are struggling to cope up with the increasing demand for hand sanitizers. Manufacturers are struggling to find materials needed, not only to produce the product but also to develop the packaging, in which it comes.
The Covid-19 pandemic led to the country-wide lockdown on 25 March 2020. It will be two years tomorrow as I write this. What have we learned in this time? Maybe the meaning of resilience since small companies like us have had to rely on our resources and the forbearance of our employees as we have struggled to produce our trade platforms.
The print and packaging industries have been fortunate, although the commercial printing industry is still to recover. We have learned more about the digital transformation that affects commercial printing and packaging. Ultimately digital will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future.
Web analytics show that we now have readership in North America and Europe amongst the 90 countries where our five platforms reach. Our traffic which more than doubled in 2020, has at times gone up by another 50% in 2021. And advertising which had fallen to pieces in 2020 and 2021, has started its return since January 2022.
As the economy approaches real growth with unevenness and shortages a given, we are looking forward to the PrintPack India exhibition in Greater Noida. We are again appointed to produce the Show Daily on all five days of the show from 26 to 30 May 2022.
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