Blister packaging offers several advantages for pharmaceutical products such as improved tamper evidence, ease of use and effective product protection. Pharmaceutical products packaged in blisters are shielded from external factors like moisture, oxygen and damages during transportation. Blister packs ensure long shelf life of drugs and make available the right dosage without contamination. The growing pharmaceutical industry worldwide is focusing on innovative packaging for increased patient compliance. The market for over-the-counter and prescription drugs is exhibiting strong growth which is propelling the demand for blister packs globally.
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 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the blister packaging market is sustainable and biodegradable packaging. Manufacturers are focusing on developing packaging with reduced environmental footprint by utilizing renewable and compostable materials. Biodegradable blister packs made from materials like paper and plant-based polymers are gaining traction. They offer an eco-friendly alternative to traditional plastic and aluminum blisters. Advanced biodegradable blisters provide similar protection, shelf-life and usability as compared to traditional packaging. The growing focus toward sustainable packaging especially in the pharmaceutical industry will support the demand for biodegradable blister packaging solutions over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established supply chain network pose low threat of new entrants in the Blister Packaging Market.
Bargaining power of buyers: Large buyers in the pharmaceutical industry possess high bargaining power due to their bulk purchasing abilities.
Bargaining power of suppliers: Few raw material manufacturers supply the Blister Packaging Market globally, giving them moderate bargaining power.
Threat of new substitutes: Substitute packaging solutions pose threat but are not viable replacements for moisture and tamper-proof packaging needs of pharmaceutical products.
Competitive rivalry: High competition exists among global players to strengthen market presence through product innovation and strategic partnerships.
Key Takeaways
The Global Blister Packaging Market Size is expected to witness high growth. 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 4.5% over the forecast period 2023 to 2030.
The Asia Pacific region is expected to dominate the global Blister Packaging Market during the forecast period. Factors such as rising disposable income, increasing health awareness and growing pharmaceutical industry are fueling market growth in the region. North America and Europe are also significant markets and anticipate stable demand during the forecast period.
Key players operating in the Blister Packaging Market are BASF SE, DuPont, American Elements, Cabot Corporation, ZeniMac Exim, Southern Carbon Chemical, Reade Manufacturing Company, The Shepherd Chemical Company. They are focusing on new product launches, partnerships and expanding production capacities to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
