The Blister Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Blister Packaging Global Market Report 2024, The blister packaging market size has grown strongly in recent years. It will grow from $22.53 billion in 2023 to $24.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to rise in pharmaceutical industry, consumer demand for convenience, enhanced product protection, regulatory compliance, tamper resistance features, extended shelf life..
The blister packaging market size is expected to see strong growth in the next few years. It will grow to $32.01 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to growing aging population, shift toward sustainable packaging, e-commerce expansion, customized packaging solutions, prevention of medication errors, globalization of supply chains.. Major trends in the forecast period include smart blister packaging, cost-effective packaging solutions, integration of anti-counterfeiting features, flexible packaging formats, innovation in materials and printing technologies, increased focus on recyclability and circular economy..
The rising growth of the pharmaceutical industry is expected to propel the growth of the blister packaging market going forward. The pharmaceutical industry refers to the industry that discovers, develops, manufactures, and distributes medical drugs for patients’ treatment. Pharma businesses increasingly rely on their packaging to safeguard and advertise various drugs and medical devices. A blister packaging design is used by pharmaceutical companies for the packaging of medicines. For instance, according to a report by the India Brand Equity Foundation, a government of India knowledge center, the Indian pharmaceutical sector is worth USD 42 billion worldwide as per June 2022 data. Also, in August 2021, the Indian pharmaceutical market increased by 17.7% annually, up from 13.7% in July 2020. Further, according to data from The State Council of the People’s Republic of China, an administrative body of the Chinese government, China’s pharmaceutical firms saw their combined business revenue increase by 18.7% year-on-year in 2021, which was the highest growth rate as of May 2022 data. Therefore, the rising growth of the pharmaceutical industry is driving the growth of the blister packaging market.
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The blister packaging market covered in this report is segmented –
1) By Product Type: Clamshell, Carded
2) By Technology Type: Cold Forming Technology, Thermoforming Technology
3) By Material Type: Plastic, Aluminum, Paper and Paperboard, Other Materials
4) By End-User: Food, Pharmaceuticals, Veterinary and Nutraceuticals, Medical Devices, Electronics and Electricals, Industrial Goods, Other End Users
Technological advancements are the key trends gaining popularity in the blister packaging market. Major companies operating in the market are focused on innovative and advanced packaging designs to gain a competitive advantage. For instance, in April 2022, Huhtamaki, a Finland-based consumer packaging company operating in the blister packaging market, introduced the first-to-market sustainable innovative packaging product Push Tab Blister Lid for the global pharmaceutical and healthcare industry. The Push Tab blister lid is comprised of a mono-material Polyethylene terephthalate (PET), which considerably enhances the package’s ability to be recycled while still being compatible with high-performance blister packaging machines already in use. It offers the industry a more environmentally friendly option than conventional push-through blister packaging while still meeting the exacting safety standards of highly regulated pharmaceutical and healthcare packaging.
The blister packaging market report table of contents includes:
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