Blister packaging is commonly used for pharmaceutical drugs packaging. It helps to maintain the integrity and stability of drugs by providing protection from humidity, oxygen, and light. Blisters not only provide tamper evidence but also helps display product information clearly. They are easy to use, take less space on shelves and are convenient for consumers. Blister packaging is suitable for various products ranging from capsules, tablets to flakes.
The 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 Dynamics:
It allows consumers to use the product on-the-go without any mess. The push-through packaging style offers convenient dispensing of products packed in blisters. This convenience factor has boosted the adoption of blister packaging across different industries.
Rise in pharmaceutical and consumer goods market: Growing pharmaceutical industry coupled with increasing consumer spending on healthcare and personal care products has augmented the demand for blister packaging. Wide acceptance of blister packs for drugs, small electronics, and food supplements have propelled the growth of this market. Blister packaging keeps products protected and maintains product integrity, which is a crucial requirement in the pharmaceutical industry.
Segment Analysis
The global blister packaging market is dominated by the thermoform blister packaging segment. Thermoform blisters are projected to account for over 70% share of the overall market during the forecast period. Thermoform blister packaging provides efficient protection to products against external factors such as moisture and microbes. It also improves the shelf life of pharmaceutical as well as food products. The airtight and waterproof properties enhance product safety and quality making thermoform blister packaging ideal for medicines, tablets and capsules.
PEST Analysis
Political: Government regulations regarding pharmaceutical packaging are driving the demand for secure and tamper-proof blister packaging solutions. Various international regulatory bodies have defined rigorous packaging standards to ensure product quality and safety.
Economic: Rising healthcare expenditure along with high consumption of OTC drugs in developed nations is facilitating the growth of the global blister packaging market. Improving economic conditions in emerging markets are also expanding the customer base.
Social: Growing awareness about product and medicine safety among consumers has increased the preference for securely packaged pharmaceutical products. Blister packs are considered more convenient and easy-to-use format for medicines compared to bulk packaging.
Technological: Advances in packaging machinery allowing high-speed production of blister packs with advanced anti-tampering features. Development of eco-friendly blister packaging materials such as PLA films is also boosting the market growth.
Key Takeaways
The Global Blister Packaging Market Demand was valued at US$ 17.37 Bn in 2023 and is expected to reach US$ 29.43 Bn by 2030, expanding at a CAGR of 6.9% during the forecast period. Rapid urbanization, rising living standards and growing middle-class population in countries such as India, China, Brazil are increasing the consumption of consumer goods as well as healthcare products. This is anticipated to drive the demand for secure, affordable and convenient blister packaging solutions in the coming years.
Regionally, North America dominated the global blister packaging market and accounted for over 30% revenue share in 2023 led by high pharmaceutical production and healthcare spending in the US and Canada. Asia Pacific is emerging as the fastest growing market and is expected to witness a CAGR of around 8% during the forecast period. Significant growth in the pharmaceutical, food and consumer goods industries along with rising disposable incomes are propelling the demand for blister packs in Asia Pacific countries.
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. Major players are focusing on new product innovations, capacity expansion plans and mergers & acquisitions to gain a competitive advantage in the industry.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
