PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258816
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258816
According to Stratistics MRC, the Global Blister Packaging Market is accounted for $23.94 billion in 2022 and is expected to reach $44.30 billion by 2028 growing at a CAGR of 10.8% during the forecast period. Blister packaging is a pre-formed pack of plastic used for packaging applications. Thermoformed plastic is applied in making the formable web in blister packs. These formable webs are used to make cavities or pockets for the blister packs. Blister packaging has a wide range of applications. Many manufacturers use blister packaging to offer their customers transparency; they can see the actual product packaged. Blister packs have the backing of paperboard, aluminium foil, or plastic. In pharmaceutical applications, blister packaging is applied for the packaging of disintegrated capsules, tablets, etc.
According to the IBEF Organization, India's pharmaceutical export in 2019 was US$ 16.2 billion.
Consumers are rapidly shifting away from unit-dose packaging, such as standard pharmaceutical bottles, and towards blister packaging. Pharmaceutical blister packing is used in the healthcare business for drugs and medical devices. Furthermore, they are widely employed in a wide range of industrial, consumer, and food and beverage goods. Blister packaging employs fewer packaging resources, takes up less space on store shelves, and provides a better hang-hook display. Blister packing is so less expensive than other packaging methods, such as hard bottles, and thus more cost effective.
Producers of blister packaging have hurdles as a result of the tight rules that have been enacted, notably in the healthcare business. Compliance with the guidelines is critical since even minor flaws in the packaging can cause product damage and result in a loss for the distributors. The Food and Drug Administration (FDA) requires all blister cells to have labels that indicate the manufacturer's name, lot number, strength, bar code, patented and established name, and expiration date. Adherence to such standards necessitates work, resources, and time, which provides a problem for market participants in the blister packaging business.
Pharmaceutical companies, both large and small, are investing heavily in R&D initiatives to raise manufacturing output, discover innovative medications, and optimise their product development pipelines. Furthermore, due to private sector involvement, there is a huge growth in demand for blister packaging. Furthermore, the blister packaging market will develop significantly over the projection period due to the introduction of various types of packaging such as child-resistant, senior citizen-friendly, and temper protection.
Blister packaging is generally used to preserve lightweight goods and is not an ideal alternative for packing large goods. Heavy products put too much strain on the plastic wrapping that wraps them or the paperboard that supports them. When storing and transporting the contents, the packaging shatters, increasing the cost and resulting in product loss. As a result, blister packing is improper for such commodities. Furthermore, it is not recommended for valuable or delicate items because the poor blister wrapping may harm or shatter the contents, costing the makers money.
The COVID-19 outbreak, global regulatory norm expansion, population health management, inventions, more knowledgeable customers, and a surge in OTC pharmaceuticals have all contributed to the growth of packaging. Unfortunately, temporary lockdowns impeded the supply chain, and labour was unavailable. As a result, the Market expanded less swiftly than expected. However, after April 2022, COVID-19 occurrences will be considerably reduced, and the bulk of end-user sectors will be operating at full capacity. With COVID-19, the healthcare industry accelerated. This is expected to boost the expansion of the global market during the forecast year.
The carded segment is anticipated to witness the fastest CAGR growth during the forecast period. The elements that can be attributed to its ability to assume numerous shapes, stack several things, and have outstanding damage protection capabilities are driving demand for this market sector. Furthermore, with blister-carded packaging, brands may more prominently showcase their products while keeping them safe inside rigid, pre-formed chambers. Blister card packaging provides a solid seal around items. This means that the cavity's contents cannot be harmed by air, chemicals, or other contaminants.
The thermoforming segment is estimated to have a lucrative growth, because of its numerous applications in end-use sectors like as healthcare and food. Thermoforming has several advantages over cold forming, including safer travel since the compartments are more closely defined and smaller, limiting the possibility of damage, visibility because the blister plastic is transparent, and the capacity to produce a wide range of items. Manufacturers like thermoforming due of its high volume manufacturing capabilities, as well as its dependability, consistency, and cleanliness. The low cost, efficient administration and convenience of use of thermoforming technology are the primary drivers of demand.
North America is projected to hold the largest market share during the forecast period. Increasing industrialisation, backed by the governments of many nations in the region, is fuelling the expansion of the healthcare and cosmetics sectors. Furthermore, the region's rising population and people's proclivity to invest more in their healthcare and personal care are driving revenue growth in the North American blister packaging market. In recent years, the pharmaceutical business in the United States has experienced phenomenal blister packaging market expansion, which is likely to continue over the projection period.
Asia Pacific is projected to have the highest CAGR over the forecast period. The region's quick economic expansion and the pharmaceutical sector's good prospects have contributed to the region's dominance. The presence of several pharmaceutical prescription plants and large population in the area, are fuelling the product's expansion. Aside from housing around 60% of the world's population, the region is a manufacturing powerhouse for the electronics and other consumer products industries. Second, as healthcare expenditures rise and disposable income rises, the blister packaging market is expanding in China, South Korea, and India.
Some of the key players profiled in the Blister Packaging Market include: Display Pack, Sonoco Products Company, WestRock Company, Constantia Flexibles, Honeywell International Inc., Tekni-Plex, Amcor Plc, Klockner Pentaplast Group, Pharma Packaging Solutions, Shanghai Haishun, Dowdupont, Nosco Inc., SteriPack Group, Bemis Company, Inc., UFlex Limited and Rohrer Corporation.
In January 2021, Sonoco Products Company entered into partnership with Integrated Systems, Inc. (US). This partnership will help the company to enhance its automation activities and increase efficiency in global manufacturing operations.
In September 2020, Amcor Plc developed first recyclable retort flexible packaging with improved environmental footprint of packaging to 60% (approximately). This will allow recycling of high-performance packaging such as wet pet food, ready-meals, baby foods, and pre-cooked soups.
In August 2020, Sonoco Products Company acquired Can Packaging (France). This acquisition will add two manufacturing facilities, and a R&D facility to the company's existing assets and fortify its market position in Europe region.
In July 2020, Dow launched INNATE TF an extension to INNATE precision packaging family. It is a polyethylene resin for tenter frame biaxial orientation films. These are high performance, recyclable, and consumer convenience films.
In May 2020, Constantia Flexibles acquired TT print (Russia). This acquisition will add pharmaceutical packaging production plant to the company's asset and will strengthen its pharma division.
In May 2020, Constantia Flexibles started world's first sustainable packaging dedicated manufacturing plant in India. With this new manufacturing facility focused on the production of environmental friendly packaging EcoLamb, it aims to cater to growing demand of sustainable and recyclable packaging.
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