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Smart Learning Is Fastest Growing Segment Fueling The Growth Of Blister Packaging Market

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ashwinicmi
Smart Learning Is Fastest Growing Segment Fueling The Growth Of Blister Packaging Market

Blister packaging involves thermoforming of plastic material to form blisters on cardboard backing or foil backing. The blister packaging offers product protection, convenience in consumption, and tamper evidence while extending product shelf life. It is ideal for protecting small delicate items, tablets, capsules, candies and other small consumer goods.

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 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Growing demand for product differentiation and customization in pharmaceutical applications is one of the key trends driving the growth of blister packaging market. Manufacturers focus on providing innovative and differentiated packaging for medicines to showcase their brand value, improve patient compliance and stand out on retail shelves. They are investing in advanced printing and coating technologies to offer appealing graphical design and product information on blister packs. The flexible format allows showcasing key USPs of medicines which aids brand loyalty among patients.


Segment Analysis

The global blister packaging market is segmented by type, technology, material and end use industry. Based on type, the thermoform segment held the largest market share in 2022 owing to its high adoption rates across industries and ability to form customizable shapes and sizes for varied product requirements. Thermoforming offers cost benefits as well due to less material wastage.

Key Takeaways

The Global Blister Packaging Market Demand is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period, due to increasing demand for convenient packaging from pharmaceutical and electronics industries.

Regional analysis

North America dominated the global blister packaging market in 2022 and is expected to continue its dominance during the forecast period due to well-established pharmaceutical companies in the region. Asia Pacific is expected to witness the highest growth rate during the forecast period owing to growth of end use industries in countries such as China and India.

Key players

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. Amcor PLC and Honeywell International Inc. capture majority of market share due to their innovative product portfolio and global presence.

Check more trending articles on this topic:

https://www.marketwebjournal.com/blister-packaging-market-growth-market-size-share-analysis/

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