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Posted 09/25/2023 by Market Research Future

Blister Packaging Market Is Projected to Grow at a CAGR of 5.70%

Blister Packaging Market Is Projected to Grow at a CAGR of 5.70%

Blister Packaging market Size was valued at USD 22.8 Billion in 2022. The Blister Packaging Market End Use Sector is projected to grow from USD 24.1 Billion in 2023 to USD 37.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.70%

The Blister Packaging market is a plastic packaging market that comprises a space within it used in pharmaceutical industries in large numbers. It comprises a thermoformed plastic and a paper aluminium foil at its hind back. This packaging protects the product from heat, UV rays, humidity, and contamination from the foreign particles of the outer world. The sophisticated specialized blister packaging is sterile and protects the medicines and products from external bacterial or viral contamination. The blister Packaging Market is extensively exercised in consumer goods, pharmaceuticals, food & beverages, medicines, packing toys, etc., escalating the huge demand for Blister packaging. Pharmaceuticals are the steering application compared to others.

Blister packaging solutions, which are produced of moulded plastic components that are usually attached to a piece of paper or metal, are used to package items like tablets and high-volume, low-priced consumer electronics. This sort of packaging mainly utilizes three elements plastic substrates as a forming film, paper & paperboard, or metal as lading materials. In comparison to similar packaging options, this kind of packaging has a variety of benefits, including affordability, ease of handling, protection for each little packed material, and others. In the healthcare sector, blister packs are applied to package pharmaceuticals and medical equipment.

By promoting the need for convenient and tamper-free packaging has boosted the demand for blister packaging. In addition to that, blister packaging occupies lower retail shelf space, and few resources for packing, although this packing is available at a low cost. The frequency of lifestyle diseases, the aging population, boosting demand for a generic drug, and strict regulatory requirements are some factors herding the blister packaging market.

Regional Analysis

The Global Blister Packaging Market is divided into five regions; North America, Asia Pacific, Europe, Latin America and the Middle East & Africa.

Asia- Pacific is anticipated to register the topmost CAGR in the market for its lightning expansion of end-use sectors like healthcare, food, consumer, and industrial goods. The Middle East & Africa dominates this market for their better healthcare services and the sale of OTC medicines maintains a CAGR of 9%. In North America, manufacturers are moving to blisters from plastic containers to deliver better protection and patient care services.

Europe, one of the significant regions in the manufacturing industry contains consumer goods companies that are leading manufacturers of food items like Nestle and HUL. India is estimated to flaunt the fastest growth rate of 7.9% from 2021 to 2028. This is because of the enlarging investment in the healthcare sector of the region, along with the admiring government support for the expansion and advancement of the pharmaceutical industry in the country. Also, the expanding burden of chronic diseases among the residents is another substantial factor supporting the growth of the market in the country.

Market Segmentation

The global Blister Packaging Market is segmented into the following types;

Blister Packaging Component Outlook

·         Thermoforming

·         Cold Forming

Blister Packaging Type Outlook

·         Paper & Paperboard

·         Plastics Films

·         Aluminum

Blister Packaging End Use Sector Outlook

·         Healthcare

·         Consumer Goods

·         Industrial Goods

·         Food

Key players

Amcor plc, Constantia Flexibles GmbH, Sonoco Products Company, Winpak Ltd., West Rock Company, Honeywell International, Inc, Uflex Ltd, Tekni-Plex, Inc, ACG Pharmapack Pvt. Ltd., Klockner Pentaplast Group, and SteriPack Group

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