The global blister packaging market is estimated to be valued at US$ 15.2 billion in 2021 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights
Market Overview:
Blister packaging refers to the packaging method where a product is sealed between a blister and a card. It provides several advantages such as product protection, tamper resistance, and extended shelf-life. The growing pharmaceutical industry is driving the demand for blister packaging. It offers numerous benefits for the pharmaceutical sector, including improved drug protection, easy identification of counterfeit products, and convenient unit-dose packaging. Moreover, blister packaging minimizes the risk of medication errors and provides child-resistant packaging, making it a preferred choice for pharmaceutical manufacturers.
Market Key Trends:
One of the key trends observed in the blister packaging market is the increasing focus on sustainable packaging solutions. With the rising awareness about environmental concerns, there is a growing demand for eco-friendly packaging options. Manufacturers are adopting sustainable materials such as recyclable and biodegradable packaging materials for blister packaging. Additionally, technological advancements are enabling the development of innovative eco-friendly blister packaging solutions, such as compostable blister packs. These sustainable packaging solutions not only reduce environmental impact but also enhance the brand image of companies operating in the blister packaging market. The trend towards sustainable packaging is expected to drive market growth in the coming years.
PEST Analysis:
Political: The political factor that could impact the blister packaging market is regulations and policies related to packaging materials and waste management. Governments worldwide are implementing stricter regulations to reduce plastic waste and promote sustainable packaging solutions.
Economic: The economic factor influencing the market is the rising demand for blister packaging across various industries such as pharmaceuticals, consumer goods, and food and beverages. The growing middle-class population, especially in emerging economies, is contributing to increased consumption and the need for efficient packaging solutions.
Social: Changing consumer preferences towards convenience and ease of use are driving the demand for blister packaging. Additionally, the growing aging population and increasing healthcare expenditure are further fueling the demand for blister packs in the pharmaceutical sector.
Technological: Technological advancements in blister packaging materials and machinery are positively impacting the market. Innovations such as child-resistant blister packs, smart packaging with RFID technology, and eco-friendly materials are gaining traction in the industry.
Key Takeaways:
The Blister Packaging Market Demand is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period of 2023-2030. This growth can be attributed to the increasing demand for blister packs in various industries, driven by factors such as changing consumer preferences, rising healthcare expenditure, and strict regulations on packaging waste.
In terms of regional analysis, Asia-Pacific is projected to be the fastest-growing and dominating region in the blister packaging market. The region’s rapid economic growth, expanding manufacturing sector, and growing population are driving the demand for efficient packaging solutions. Moreover, increasing urbanization and rising disposable income are fueling the consumption of packaged goods in the region.
Key players operating in the blister packaging market include 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. These key players are focusing on product innovation, strategic partnerships, and expansion to strengthen their market presence and cater to the evolving customer needs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
