Pharmaceutical Segment Is The Largest Segment Driving The Growth Of The Blister Packaging Market
The global Blister Packaging Market is estimated to be valued at US$ 17.37 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Blister packaging provides easy to carry small medical doses along with product protection and ease of use benefits. It helps in maintaining the freshness and sterility of pharmaceutical, food and other small products.
Market key trends:
One of the key trends in the blister packaging market is the rising demand for child-resistant and senior-friendly packaging from the pharmaceutical industry. Child-resistant blister packs are designed in a way that they can be opened only by adults with minimum effort while senior-friendly designs are easy to use even by people with arthritis. Furthermore, developments towards eco-friendly blister packaging materials like PLA (Polylactic acid) derivatives are also gaining traction in the market. Sustainable packaging manufacturers are investing in renewable resources to produce bio-based blisters in order to respond to consumer demand for green products.\
SWOT Analysis
Strength: Blister packaging provides tamper evidence and enhances product safety and shelf life. The clear visibility of the product is also a key strength.
Weakness: Blister packages have higher material and manufacturing costs compared to other packaging types. They also generate more waste.
Opportunity: The growth of the pharmaceutical industry is driving the demand for innovative packaging solutions. Blister packages are well-suited for drugs and supplements due to their moisture and oxygen barrier properties.
Threats: Strict environmental regulations around plastic packaging are a challenge. Sustainable alternatives may gain more popularity.
Key Takeaways
The Global Blister Packaging Market Demand is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period, due to increasing demand from the pharmaceutical industry. Blister packages provide effective protection and tamper evidence required for drugs and supplements.
Asia Pacific is expected to dominate the global market, owing to strong growth in pharmaceutical manufacturing activity in countries such as India and China. Growth rates are particularly high across emerging economies in the region.
North America and Europe will also see substantial demand, driven by advances in medication. Both regions have a significant presence of key pharmaceutical players and consumers with higher health awareness.
Key players operating in the blister packaging market are Amcor PLC, Blisters Inc., Honeywell International Inc., Blisterpak Inc., VisiPak, Sonoco Products Company, Powerpak Industries L.L.C., Clearwater Packaging Inc., Constantia Flexibles GmbH, Westrock Company, and Algus Packaging Inc. Strategic acquisitions and new product launches have enabled these companies to further strengthen their market position.
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