South Korea Pharmaceutical Packaging Market Expected to Reach $3.0 Billion by 2033

The South Korea pharmaceutical packaging market was valued at $1.5 billion in 2023, and is projected to reach $3.0 billion by 2033, growing at a CAGR of 7.4% from 2024 to 2033.  Pharmaceutical packaging involves encasing drugs in specialized protective materials to ensure their safety, stability, and effectiveness throughout their lifecycle, from manufacturing to patient administration. It includes a range of packaging solutions, such as tamper-evident and child-resistant designs, which are developed to comply with strict regulatory standards. Effective pharmaceutical packaging not only protects medications from environmental threats like moisture and light but also aids in accurate dosing, enhances patient adherence, and ensures traceability within the healthcare system. 

The South Korea pharmaceutical packaging market is witnessing significant growth, driven by the increasing demand for pharmaceuticals fueled by a rapidly aging population and the rising prevalence of chronic diseases such as diabetes and cardiovascular conditions. This growing healthcare need necessitates effective and innovative packaging solutions that ensure the safety and efficacy of medications throughout their lifecycle. Additionally, stringent regulatory requirements from government bodies, such as the Ministry of Food and Drug Safety (MFDS) , are propelling advancements in packaging technologies, emphasizing the importance of tamper-evident and child-resistant designs to enhance patient safety. 

However, the market faces challenges, particularly regarding the high costs associated with advanced packaging materials and technologies. These expenses can be a barrier for smaller pharmaceutical companies, potentially limiting their ability to adopt innovative solutions that meet regulatory standards while remaining cost-effective. Furthermore, the competitive landscape intensifies the pressure on manufacturers to maintain affordability without compromising quality. 

Moreover, there lies a significant opportunity in the increasing demand for sustainable packaging solutions. With growing environmental concerns and consumer awareness, pharmaceutical companies are increasingly adopting biodegradable and recyclable packaging materials. This shift not only aligns with global sustainability initiatives but also enhances brand reputation among environmentally conscious consumers, positioning South Korea as a key player in the evolving pharmaceutical packaging landscape.  

Segment Highlights 

The South Korea pharmaceutical packaging market is segmented on the basis of product, and material type.  On the basis of the product, the market is categorized into parenteral containers, plastic bottles, blister packaging, closures, specialty bags, labels, and others. The plastic bottle segment accounted for the largest share of the South Korea pharmaceutical packaging market in 2023. This is attributed to multiple factors, including the widespread use of plastic bottles to package diverse pharmaceutical liquids and solids. Their versatility, lightweight construction, durability, and cost-effectiveness, coupled with compliance with stringent regulations, fuel sustained demand and growth in the pharmaceutical packaging market for plastic bottles. 

On the basis of material type, the market is classified into glass, aluminum foils, plastics and polymers, paper and paperboards, and others. The plastics and polymers segment accounted for the largest share of the South Korea pharmaceutical packaging market in 2023. This is attributed to the versatility, durability, and cost-effectiveness of plastic packaging solutions. Furthermore, continuous advancements in plastic materials and manufacturing technologies are enhancing the performance and functionality of plastic packaging, consolidating its stronghold in the market. 

Key players in the market include CCL Industries Inc., West Pharmaceutical Services, Inc., Berry Global Group, Inc, Catalent Inc., Gerresheimer AG, SCHOTT Pharmaceutical Packaging, Amcor plc., Aptar Group, Inc., Nipro Corporation, BD (Becton, Dickinson and Company) .These players have adopted various developmental strategies to stay competitive in the market. For instance, In November 2021, JVM, a subsidiary of Hanmi Pharmaceutical, launched NS20, a new pharmaceutical packaging machine that can prevent packaging errors of pharmaceuticals while speeding up the automatic dispensing procedure and save wrapping paper. The NS20 model is suitable for large pharmacies and hospital pharmacies and comes with the latest automatic sensor and communication technology ACRS-III and ATDPS, a conventional automatic medicine classification and packaging system.