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 (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Blister packaging refers to a type of packaging that consists of pre-formed plastic trays or pockets and a lidding material. It is widely used in the pharmaceutical industry for packaging tablets, capsules, and other solid dosage forms. Blister packaging offers various advantages such as protection against contamination, tampering, and moisture. It also provides extended shelf life, easy transportation, and enhanced product visibility. The increasing demand for pharmaceutical packaging due to the rising global healthcare expenditure and the growing prevalence of chronic diseases is driving the growth of the blister packaging market.
Market Key Trends:
The key trend in the blister packaging market is the increasing adoption of sustainable packaging materials. With growing environmental concerns, pharmaceutical companies are shifting towards eco-friendly packaging solutions. They are opting for recyclable and biodegradable materials to reduce their carbon footprint. This trend has led to the development of innovative blister packaging materials such as biopolymers and bio-based plastics. These materials not only provide the necessary protection and functionality but also help in minimizing the environmental impact. The adoption of sustainable blister packaging materials is expected to drive the growth of the market in the coming years.
PEST Analysis:
Political: The political factors influencing the blister packaging market include government regulations and policies related to packaging materials, recycling, and waste management. For instance, governments around the world are increasingly implementing stricter regulations on plastic packaging to reduce environmental pollution and promote sustainable practices.
Economic: The economic factors impacting the blister packaging market are the overall economic growth, disposable income levels, and consumer purchasing power. As the global economy recovers from the impact of the COVID-19 pandemic, the demand for blister packaging is expected to increase, driven by the rising consumption of consumer goods and pharmaceutical products.
Social: Changing consumer preferences and demographics play a significant role in shaping the blister packaging market. The increasing focus on convenience, portability, and product visibility among consumers drives the demand for blister packaging. Additionally, the growing aging population and the rise in chronic diseases create a higher demand for pharmaceutical products, which in turn boosts the demand for blister packaging in the healthcare sector.
Technological: Technological advancements in blister packaging materials, designs, and machinery contribute to market growth. Innovative packaging materials that offer better barrier properties, such as aluminum foil and high-density polyethylene (HDPE), are gaining popularity. Furthermore, advancements in printing and labeling technologies enable attractive and informative packaging designs, enhancing the visual appeal of blister packs.
Key Takeaways:
The Global Blister Packaging Market Demand is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period of 2022-2030. The market size for 2021 was valued at US$ 15.2 billion.
Regionally, Asia Pacific is projected to be the fastest-growing and dominating region in the blister packaging market. The region's rapid economic development, increasing population, and expanding pharmaceutical and consumer goods industries contribute to the high demand for blister packaging.
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 companies focus on product innovation, strategic collaborations, and mergers and acquisitions to strengthen their market position and cater to the evolving consumer demands.
