Blister Packaging Market Estimated to Expand at a Robust CAGR By 2031

The demand for blister packaging is set to reach 5.18 thousand tonnes in 2021, according to a new study by ESOMAR-certified market research and consulting firm, Future Market Insights. Higher preference for blister packaging over carton boxes in pharmaceutical industry continues to fuel demand primarily. Blister packaging sales are also complemented by growing demand from food, consumer goods, and veterinary industries.

While the steady growth of pharmaceutical industry is pushing the demand-supply curve upward, various guidelines for pharmaceutical packaging are further catalyzing the growth of blister packaging manufacturers. For instance, as per the FDA guidelines, pharmaceutical packaging must have features that prevent mix-ups and cross-contamination, specify procedures for examining packaging for suitability before packaging operations. Blister packaging fulfils all these criteria and hence it has high demand in the pharmaceutical sector.

Get Sample of the Report : https://www.futuremarketinsights.com/reports/sample/rep-gb-4648

According to the India Brand Equity Foundation (IBEF), India is the largest provider of generic drugs globally, while Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the U.S. and 25% of all medicine in the U.K. Although pharmaceutical sector holds major pie of value share in the global market, consistently increasing demand for blister packaging is also attributed to its cost-effectiveness.

According to Future Market Insights (FMI), the future growth outlook for global blister packaging market seems promising as expenditure on healthcare and pharmaceutical across the globe is on significant surge.

Key Takeaways from Blister Packaging Market Study

  • Carded blister packaging remains lucrative, capturing over 55% share
  • Pharmaceutical segment to maintain the lead in terms of end use, holding over one-third share
  • High demand for thermoforming technology in manufacturing blister packaging to fuel sales
  • By material, plastic and aluminium collectively projected to hold over 75% of market share
  • The United States to remain at the epicentre, holding over 84% market value
  • The United Kingdom, Germany, France, China, and a few others to emerge lucrative for the suppliers

“Leading manufacturers operating in the global blister packaging market are consistently enhancing blister packaging format by incorporating advanced packaging technologies such as thermoforming and cold forming. Furthermore, the rise in demand for blister packaging with high barrier film for excellent air, moisture, and light resistance is expected to further propel the growth of the blister packaging manufacturers in the near future,” says an FMI analyst.

Pharmaceutical Industry Growth Key to Blister Packaging Sales

Blister packaging being predominantly used for air tight packaging, sealing, and storing of medicines such as tablets and capsules which are in the form of unit dosing, has high demand in the pharmaceutical sector. While the consumer preference for single serving of the medicines is raising the requirement of blister packaging, the exponential growth of the pharmaceutical industry is further catering to it.

The United States is the largest market for biopharmaceuticals, accounting for around a third of the global market, and is the world leader in biopharmaceutical R&D. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), U.S. firms conduct over half the world’s R&D pharmaceuticals (US$ 75 billion) and hold the intellectual property rights on newer medicines. These figures represent high demand for blister packaging in pharmaceutical industry which in turn is fuelling the sales of the manufacturers.

Blister Packaging Market by Category

Product Type

  • Clamshell
  • Carded

Technology Type

  • Cold Forming Technology
  • Thermoforming technology

Material Type

  • Plastic
    • PVC/Vinyl
    • PET
    • PE
    • Others
  • Aluminum
  • Paper & Paperboard
  • Others

End Use

  • Food
  • Pharmaceuticals
  • Veterinary and Nutraceuticals
  • Medical Devices
  • Electronics & Electricals

Ask For Regional Data : https://www.futuremarketinsights.com/ask-regional/rep-gb-4648

Competitive Landscape

The blister packaging market is getting tougher in terms of competition experienced by the key players. In order to leverage the new opportunities, the key market players are focusing on launching better quality products. For instance,

  • Constantia Flexibles Group GmbH unveiled its new blister packaging solution named “Flexible Blister Packaging Solution” which runs on conventional strip packaging equipment and has similar barrier protections to that of traditional blister packaging despite having flexible film on both sides in 2019
  • Honeywell International Inc. launched its new Aclar Accel®, which is a new thermoformable barrier film for pharmaceutical packaging that provides faster service to companies at a lower cost while maintaining patient safety through increased protection for medicines in February, 2019

Some of the other prominent players in the blister packaging market are Sonoco Products Company, WestRock Company, Rohrer Corporation and Winpak Ltd. The Tier 3 players in the market hold 70-75% of the share while the key players contribute almost 25-30% of the global market.

 

About us :

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact :

Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

Leave a comment

Your email address will not be published. Required fields are marked *