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Over US$ 2.9 Bn Opportunity to Be Created by 2021 as Plastic Vials and Ampoules Market Regains its Pre-Pandemic Growth Status: Future Market Insights
With high demand from the healthcare and personal care sectors, the market is projected to reach US$ 2.9 Bn in 2021, growing at a 5.5% CAGR in terms of volume. Increasing vaccine production across the globe is spurring demand for plastic vials and ampoules. Owing to this, the global consumption is projected to top 7.1 Bn units in 2021.
Applications of plastic vials and ampoules are not limited to hospitals, the personal care & cosmetics, chemical, and homecare products industries are actively adopting plastic vials and ampoules for retailing and storing products. Increasing demand from these sectors is propelling sales of plastic vials and ampoules, and the trend is projected to continue over the forecast period.
However, the bulk of demand is registered in the packaging industry owing to the increasing demand for effective packaging solutions for sterile liquids. In addition to this, plastic vials and ampoules are used for packing solid and liquid medications such as tablets, capsules, powders, and antibiotic sterile solutions.
Plastic vials and ampoules make unit dosing and measured dosing more convenient. In comparison to glass vials, plastic vials have lesser chances of breakage, leakage, and glass leaching. Various advantages of plastic vials and ampoules over glass variants are propelling their applications in the healthcare and chemical sector. This is indicative of lucrative growth prospects likely in the global plastic vials and ampoules market in the forthcoming years.
As per FMI, the U.S. is projected to dominate the North America plastic vials and ampoules market. Growth in the U.S. can be attributed to the increasing plastic production, along with growing demand for convenient and lightweight packaging solutions in the pharmaceutical and personal care industries.
Key players operating in the global plastic vials and ampoules market are investing in research and development activities to launch innovative products, catering to the increasing demand from various end-use sectors. In addition to this, mergers, acquisitions, and strategic collaborations are other strategies adopted by market players to expand their global presence. For instance:
The latest market study on the plastic vials and ampoules market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global plastic vials and ampoules market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
As per the latest study of Future Market Insights (FMI), the consumption of industrial chemical packaging is projected to increase by year-on-year growth of 4.0% in 2021. Global demand for industrial chemical packaging solutions is forecast to reach from 2.9 billion units in 2021 to 4.6 billion units by the year 2031.
: FMI reported that packaging testing market experienced a healthy growth of 9.7% CAGR from 2016 to 2020. Growth can be attributed to increasing demand for consumer electronics and personal care products among millennials.
The North America fresh meat packaging market is poised to follow positive growth trajectory in 2021, with overall valuation is expected to reach US$ 788 million in 2021. Future Market Insights (FMI) predicts that fresh meat packaging market sales will surpass 365,800 tons in North America by the end of 2021.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai , and has delivery centers in the UK, U.S., and India . FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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