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The Philippines’ robust food and non-alcoholic beverage industries are the main drivers of the country’s packaging business. Glass was the most widely used pack type for alcoholic and non-alcoholic beverages, while rigid plastics and flexible packaging made up the majority of pack types in the cosmetics and toiletries sector.
Due largely to its expanding use in the food industry, flexible packaging remains the most popular type of pack material in the nation. The material type was in high demand because of its practicality, handling simplicity, moldability, and reusable qualities.
However, rigid plastic, which has a high level of toughness and is lightweight, will be the main factor driving market expansion overall.
The Philippines Packaging market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
The COVID-19 pandemic had both favourable and unfavourable effects on the Philippine pharmaceutical packaging market, posing both opportunities and difficulties for businesses in the sector.
Due to travel restrictions, lockdown procedures, and a labour scarcity, the pharmaceutical packaging industry experienced substantial interruptions at the beginning of the COVID-19 pandemic, just as many other sectors.
The COVID-19 epidemic brought to light the significance of the nation’s pharmaceutical sector. The country was able to get additional vaccines quickly thanks to the presence of global corporations like AstraZeneca.
The nation’s ability to produce COVID-19 medications locally was essential for preventing death and lowering hospitalisation rates. Such changes are anticipated to improve the investment possibilities in the pharmaceutical packaging sector.
Lockdown, mobility restrictions, and less social interaction all had a negative influence on packaging sales; even when there were no lockdowns, customers were still unwilling to go out and gather in groups as regularly as they had been before the outbreak.
As customers increasingly bought online and the foodservice industry switched toward takeout, larger pack sizes in packaged food and beverages profited. This is especially true for products in convenient and lightweight PET and metal formats.
