LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global child resistant packaging market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The market is expected to witness a substantial year-over-year growth during the forecast period owing to the growth of the packaging industry at the global level. Moreover, the growth of the pharmaceutical industry, which is witnessing a high risk of large consumption of medicines and drugs by children in houses, is further driving the global CRP market.
Sharan Raj, a lead analyst from Technavio, specializing in research on packaging sector, says, “The growth in the number of population along with the increase in the number of middle-class income population across the globe has led to the demand for safe and protective packaging for children. Stringent government regulations and policies from countries across the globe to include CRP in packaging technique for several industries have fueled the growth of the global CRP market.”
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The top three emerging trends driving the global child resistant packaging market according to Technavio research analysts are:
- Innovations in CRP
- Emergence of bio-plastics and sustainable packaging
- Market consolidation and increase in mergers and acquisitions
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Innovations in CRP
The government, packaging manufacturers, and parents have identified the need for protecting children from unintentional, accidental poisoning. Packaging manufacturers are formulating new innovative technologies for developing and producing CRP. For child safety over the years, child safety cap was the main solution in CRP. However, with the growth of technology and innovative ideas, CRP has witnessed substantial growth over the past few years.
“Various innovative ideas or solutions used in CRP are blisters pack, child-resistant aerosol cans, and child-resistant zipper closures. For instance, Ecobliss and Romaco have developed the world’s first child resistant reclosable carton named Locked4Kids, which was designed for preventing young children from accessing hazardous and poisonous content,” according to Sharan.
Emergence of bio-plastics and sustainable packaging
The latest trend that will impact the growth of the global CRP market is the emergence of biodegradable plastics as a substitute for plastic caps and closure packaging in CRP. Biodegradable caps and closure plastics are easily decomposable by microorganisms, thereby reducing the harmful toxic effect they have on the environment when compared with conventional plastics that are more popular in use.
Consumer product manufacturers prefer eco-friendly packaging solutions over conventional packaging. For instance, Sun Grown Packaging and LeafLocker Packaging have designed a special type of CRP that uses renewable raw materials in their CRP solutions.
Market consolidation and increase in mergers and acquisitions
The sales growth of the CRP market depends highly on the growth of caps and closures and blister packaging markets. As the growth of the caps and closures market in the US and Europe has almost reached maturity, the presence of a large number of regional market players has led vendors to explore other geographies such as India, China, Japan, South Africa, Brazil, and Australia.
Amcor acquired South Africa-based Nampak Flexible and Packaging India Private Limited for expanding its geographical reach in APAC and EMEA. Furthermore, Guala Closures is spreading its business in pharmaceutical and beverage packaging in India, thus driving the CRP market.
The key vendors are as follows:
- Amcor
- Bemis
- Ecobliss
- Global Closure Systems
- WestRock
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