Tamper Evident Packaging Market
Food and Drug Administration has strictly enforced tamper evident packaging for pharmaceutical manufacturers. With the exponential growth witnessed by the pharmaceutical industry, tamper evident packaging market is pegged for steady growth throughout the forecast period of 2016 – 2024. Food and beverages industry and the cosmetics industry have also picked up on tamper evident packaging due to the rising safety concerns. The ever growing food and beverage industry will positively impact the tamper evident packaging market. However, the stringent regulations specifically in the pharmaceutical industry call for the testing of tamper evident packaging and the adherence of the packaging to guidelines that have been laid down. This is likely to negatively impact the tamper evident packaging market growth.
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In terms of geography, the tamper evident packaging market has been divided in to five key regions; North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The tamper evident packaging market is expected to exhibit an above average CAGR during the forecast period. Asia pacific market is expected to witness a raise in demand in the region. As a result, tamper evident packaging is pegged to witness a growth in demand in the forecasted period.
Tamper evident packaging Market- Major Players:
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