An Analytical Study On Blister Packaging Market
Posted: Sep 23, 2019
Blister packaging is term given for pre-formed plastic packaging used for small consumable goods, food, and pharmaceuticals. 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. The Global blister packaging market will witness a sharp rise during the forecast period owing to its growing demand in food, consumer goods, and pharmaceutical industry. Increased focus towards patient compliance and medicine adherence is acting as the main driver of the blister packaging market. Good growth in prescription and Over-the-Counter (OTC) drugs market is leading to an increased demand for blister packaging since it is the widely adopted packaging option across the globe. Some of the key players in the global blister packaging market include Amcor Limited, Bemis Company, Sonoco Products Company, Honeywell International LLC., Tekni-Plex Inc., Dow Chemical Company, Klöckner Pentaplast Group, and Constantia Flexibles among others.
The blister packaging market has been segmented based on type, material, technology, end-user, and geography. By type, the global blister packaging market is segmented as compartment, slide and wallet. The compartment type holds a major blister packaging market share since it is a convenient packaging option for food and consumer goods. The market for wallet and slide packaging is anticipated to grow at the substantial rate over the forecast period since this type of blister packaging is increasingly being adopted to improve compliance among the patients.
By material, the global blister packaging market is segmented as PVC, PVDC, PP, and others. The blister packaging market analysis shows that PVC held the largest share owing to the widespread usage of the material in the pharmaceutical and consumer goods packaging and is anticipated to grow at a good rate over the forecast period due to its increased use in the manufacturing of cold-form blister films and packaging of consumer goods. Increasing demand for high barrier protection from pharmaceutical and food industry is expected to boost the demand for materials like PVDC, and PP.
By technology, the Global blister packaging market is segmented as cold-form and thermoformed blister packaging. Thermoformed held the major share in the market on account of its widespread implementation across various end-users. Cost-effectiveness and ease of manufacturing are the major driving factors that resulted in the increased adoption of this technology. Cold-form blister packaging is anticipated to grow at the fastest rate owing to a rising propensity towards this technology in order to address to the growing need to adhere to regulations related to child resistance and patient compliance.
By end-user, the global blister packaging market is segmented as consumer goods, food, and pharmaceutical. Pharmaceutical dominates in the blister packaging market since this type of packaging is primarily used for medicine and other pharmaceutical product packaging. In Consumer goods, the demand is set to rise over the forecast period since it is widely used for consumer goods as it not only provides the products with a range of options for creating visually appealing and textually pleasing experience but also allow consumers to view the product before making a decision of purchase.
By geography, the global blister packaging market has been segmented as North America, South America, Europe, Middle East and Africa, and The Asia-Pacific. The Asia Pacific Global 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 economic environment and stability in many countries within the region is further anticipated to grow the blister packaging market size in the region.
Knowledge Sourcing Intelligence is a market research and consulting firm based out of India. Steered by some of the industry experts, the company provides syndicated reports, custom research, and consulting services.