A Complete Study On Blister Packaging Market By Knowledge Sourcing Intelligence
Introduction
The Global blister packaging market
is expected to grow at a CAGR of 5.16% to reach a market size of US$12,197.471
million in 2024 from US$9,020.259 million in 2018 and by volume, the market is
poised to grow at a CAGR of 6.70% from 1,068.964 thousand tonnes in 2018.
Blister packaging is a type of packaging used to sell products in a cavity
which is backed by cardboard paper, aluminum or film seal.
The growing demand
for conveniently packaged and tamper evident products along with increased
concern towards sustainable packaging material has given a boost to the global
blister packaging market share.
Expanding Pharmaceutical Industry :
As with most other packaged goods,
pharmaceuticals need reliable and speedy packaging solutions that deliver a
combination of product protection, quality, tamper evidence, patient comfort,
and security needs. Expanding pharmaceutical and healthcare industry is
anticipated to increase the blister packaging market share during the forecast
period.
In addition, increasing consumer health awareness and growing health
spending couple with a rising geriatric population which is more prone to
diseases are expected to spur the blister packaging market size in the coming
years. In fact, according to the Organisation for Economic Co-operation and
Development, per capita, health spending in the United States has increased
from US$6,807 in 2006 to US$10,209 in 2017.
Blister Packaging Market by Technology
By technology, the global blister the packaging market is segmented as thermoformed and cold-formed blister
packaging. Thermoformed blister packaging holds a major share in the market on
account of its widespread use in packaging food, consumer goods, and medicines.
Cold-form or cold-seal blister packaging is increasingly gaining in the
pharmaceutical sector owing to the growing need to implement a type of blister
packaging that is tamper-proof, child-resistant (CR), and senior friendly. The
cold-form blister packaging market is poised to grow at the fastest rate, i.e.,
5.42%, over the forecast period on account of growing regulation in European
and many North American countries to implement patient compliance.
PVC and Bi-axially Oriented Polyamide (BOPA)
are the conventionally used films for manufacturing cold form blister packs.
Burgeoning need to peel through and child resistance packaging for medicines in
order to implement patient compliance is playing a crucial role in the
augmented adoption of cold-formed blister foils. Good growth of FMCG industry
in developing countries due to rapid urbanization and growing population has
resulted in an increased demand for packaging solutions that are inexpensive,
versatile, and highly reliable, thus driving the thermoformed blister packaging
market growth.
Blister Packaging Market by Geography
By geography, the global blister packaging market has been
segmented as North America, South America, Europe, Middle East, and Africa, and
Asia Pacific. The Asia Pacific blister packaging market is dominating the global market, constituting 41.07% share in 2018 on account of rapid
urbanization and increasing manufacturing industry in countries like China.
Furthermore, improving the economic environment and stability in many countries
within the region is further anticipated to bolster the blister packaging market
in the region. In North America, the market is growing at a substantial rate on
account of the rising shift of medicine packaging from bottles to blister
packs. Growing regulation related to single-dose packaging is poised to augment
the market growth in the region.
In Europe, blister packaging holds a significant share in the
market due to widespread adoption of blister packs in the pharmaceutical and
food sector. Furthermore, In South America, the demand for blister packs is set
to grow at a rate on account of the growing growth of the pharmaceutical
industry in countries like Brazil.
By counties, North America blister packaging market is segmented
as the United States, Canada, Mexico, and others. The United States is
estimated to dominate the market with 84.19% share in 2018 is further estimated
to grow at the highest CAGR of XX% as a result of the recent regulatory changes
and efforts of the government to improve domestic manufacturing.
Simultaneously, many large companies are setting up their production facilities
in Mexico as a result of the improvement in the economic and business environment
is further expanding the blister packaging market size in the coming future.
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