In-depth Analysis: Blister Packaging Market Positioning for 6.8%...

In-depth Analysis: Blister Packaging Market Positioning for 6.8% CAGR Thrive by 2033

Posted 2024-02-29 07:26:04

The blister packaging market is forecasted to reach a value of US$ 13,953.6 million in 2023 and is anticipated to increase to US$ 26,940.0 million by 2033. Sales of blister packaging are expected to experience substantial growth, with a significant Compound Annual Growth Rate (CAGR) of 6.8% throughout the forecast period.

The global pharmaceuticals sector's escalating production output has generated significant demand for pharmaceutical packaging, particularly blister packs. Blister packaging formats like carded and clamshell blisters offer precise packaging capabilities that fulfill the specific requirements of the industry.

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The market growth is further bolstered by increased healthcare spending and the trend of pharmaceutical industry outsourcing. Pharmaceutical companies are increasingly turning to contract development and manufacturing services to streamline costs and processes.

Leading pharmaceutical firms are heavily investing in research to enrich their product pipelines. This surge in research and development fuels the demand for pharmaceutical packaging, including blister packs, as new products enter the market.

Child-resistant and senior-friendly packaging formats are gaining traction in the blister packaging market. Packaging manufacturers are prioritizing the design and production of blister packs with features like child-resistant and tamper-evident mechanisms to enhance safety and prevent accidental ingestion, particularly among children.

The market is also witnessing the emergence of smart blister packs. Incorporating digital technology, these blister packs provide functionalities. Such as dosage reminders, time temperature indications, and product quality indications.

Key Takeaways from Blister Packaging Market Study

Carded blister packaging remains lucrative, capturing over 55% share
Pharmaceutical segment to maintain the lead in terms of end use, holding over one-third share
High demand for thermoforming technology in manufacturing blister packaging to fuel sales
By material, plastic and aluminium collectively projected to hold over 75% of market share
The United States to remain at the epicentre, holding over 84% market value
The United Kingdom, Germany, France, China, and a few others to emerge lucrative for the suppliers

Recent Developments

Amcor PLC, a worldwide packaging firm, deploys the recyclable AmSky blister system for healthcare packaging in April 2021. Its goal is to satisfy the strict criteria of regulated and specialized pharmaceutical packaging.
TerraCycle, an innovative recycling company, recognized Honeywell’s Aclar barrier film blisters as technically recyclable for polyethylene terephthalate glycol (PETG) and polyvinyl chloride (PVC)-based blisters in May 2022.
Pharmaworks, a developer of blister packaging technology for the consumer products, pharmaceutical, and contract packaging industries, was bought by ProMach. A provider of packaging machinery solutions, in March 2020. This program aims to broaden ProMach’s product portfolio and blister packaging applications.

The Major Key Players Are: