Global Blister Packaging Market Is Estimated To Witness High Growth Owing To Increasing Demand for Healthcare Products and Growing Pharmaceutical Industry
Blister Packaging Market |
The 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 where the product is enclosed
between a pre-formed plastic blister and a backing. This packaging method is
widely used in industries such as pharmaceuticals, healthcare, consumer goods,
and food and beverages. Blister packaging offers various benefits such as
product protection, ease of use, and extended shelf life. It is commonly used
for packaging tablets, capsules, ampoules, syringes, and other small medical
devices. The growing healthcare industry and increasing demand for healthcare
products are driving the growth of the blister packaging market.
Market Dynamics:
The blister packaging market is driven by two primary factors. Firstly, the
increasing demand for healthcare products is boosting the market growth. The
rising prevalence of chronic diseases, aging population, and growing awareness
about personal health are propelling the demand for pharmaceuticals and medical
devices, thereby driving the demand for blister packaging. Secondly, the
growing pharmaceutical industry is also contributing to market growth. The
pharmaceutical sector is witnessing significant growth worldwide, driven by
factors such as advancements in drug discovery, increasing investments in
research and development, and expanding healthcare infrastructure. The
pharmaceutical companies are adopting blister packaging for their products to
ensure safety, hygiene, and convenience for consumers.
In conclusion, the Blister Packaging Market is expected to witness high growth
in the coming years, driven by the increasing demand for healthcare products
and the growth of the pharmaceutical industry.
SWOT Analysis:
Strength: The blister packaging market is experiencing strong growth due to its
numerous advantages such as increased product protection, improved shelf life,
and enhanced tamper resistance. Additionally, the increasing adoption of
blister packaging in pharmaceutical and healthcare industries further drives
the market growth.
Weakness: One of the weaknesses of blister packaging is its limited flexibility
in terms of accommodating products of different sizes and shapes. Moreover, the
high cost of blister packaging materials and equipment can be a deterrent for
small-scale manufacturers.
Opportunity: The growing demand for convenience and easy-to-use packaging
solutions presents a significant opportunity for the blister packaging market.
Furthermore, the rising consumer preference for sustainable packaging materials
and eco-friendly solutions can drive the development of innovative blister
packaging options.
Threats: The increasing competition within the packaging industry, particularly
from alternative packaging solutions such as pouches and sachets, poses a
threat to the blister packaging market. Additionally, stringent government
regulations regarding the use of certain materials in packaging, such as
plastics, can impact the market growth.
Key Takeaways:
The Global
Blister Packaging Market Demand sis expected to witness high growth,
exhibiting a CAGR of 6.9% over the
forecast period (2022-2030), due to increasing demand for product protection
and tamper resistance. In terms of regional analysis, Asia Pacific is the
fastest-growing and dominating region in the blister packaging market, driven
by the growth of the pharmaceutical and healthcare industries in countries like
China and India. 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 key players contribute significantly to the market's
growth through their innovative packaging solutions and extensive distribution
networks.
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