Market Analysis
The blister packaging market is predicted to touch USD 38.17 billion at a 7.2% CAGR in the forecast period (2022- 2030), states the latest Market Research Future (MRFR) report.
Drivers
Demand for Tamper-Free Packaging to Boost Market Growth
The growing need for tamper-free and convenient packaging will boost the need for blister packaging in the pharmaceutical industry. This in turn will augment the market growth.
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Opportunities
Lower Cost to offer Robust Opportunities
The blister packaging needs fewer resources for packaging that occupy less retail shelf space and offer a good hang-hook display that leads to lower cost over other packaging formats like rigid bottles that makes it cost-effective. This will offer robust opportunities to the market over the forecast period.
Restraint
Not Ideal for Packing Heavy Items to act as Market Restraint
Blister packaging is used to extend the product’s shelf life, but is not an ideal choice to pack heavy items and is largely used to protect lightweight items. This may act as a market restraint over the forecast period.
Challenges
Compliance with Strict Regulations to act as Market Challenge
Strict regulations imposed on blister packaging especially in the healthcare industry may act as a market challenge over the forecast period.
COVID-19 Analysis
The COVID-19 pandemic possessed a negative impact on all the business sectors such as chemicals, food and beverages, and automotive. Yet its impact on the blister packaging market is a positive one as it is a highly used application in the healthcare sector. Almost 70% of the blister packaging is accounted to the healthcare packaging system. At the time of COVID, the demand for medical products and pharmaceuticals has gone up that led to an increase in blister packaging. Owing to the increase in COVID patients, the establishment of new hospitals and COVID-19 centers has gone up across the globe and thus increased the need for medical services. The demand for blister packaging in industrial and consumer goods may be accepted to increase the market growth. The exponential increase in demand for multivitamin tablets and the growing need for medical products like medical blister trays, syringes, etc. will boost the need for blister packaging. Besides, the establishment of new COVID-19 hospitals across the globe and the exponential rise of new COVID-19 cases in some Asian and European economies are adding market growth.
Market Segmentation
The blister packaging market is bifurcated based on type, application, production method, and materials.
By type, the carded blister packaging segment will lead the market over the forecast period.
By application, the pharmaceuticals segment will dominate the market over the forecast period.
By production method, the thermoforming segment will spearhead the market over the forecast period.
By materials, the polyvinyl chloride segment will have the lions share in the market over the forecast period.
Regional Analysis
APAC to Lead Blister Packaging Market
The APAC region will lead this market over the forecast period. Rapid expansion of end use sectors such as industrial goods, consumer, food, and healthcare, rising disposable income, rising middle-class population, increasing consumption of high visibility products, booming healthcare industry, strong economic growth, the presence of several pharmaceutical drug manufacturers, the region being a manufacturing hub for electronics and other consumer goods industries, and higher healthcare expenditure across China, South Korea, and India are adding to the global blister packaging market growth in the region.
Key Players
Eminent players profiled in the global blister packaging market report include Constantia Flexibles, Amcor Limited, DOW Chemical, Steripack, Mitsubishi Chemical Holdings, Albea, Dupont, Berry Plastics, Bemis, and Valley Industries, among others.
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