The Blister Packaging Global Market Report 2023, provides comprehensive information on the blister packaging market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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In accordance with the comprehensive insights provided by The Business Research Company’s authoritative Blister Packaging Global Market Report for the year 2023, it is discerned that the market’s dimensions are poised for a substantial transformation. Anticipated to evolve from its $21.01 billion valuation in 2022 to a more robust $22.75 billion valuation in 2023, this growth signifies an impressive compound annual growth rate (CAGR) of 8.3%. This rate of expansion not only reflects a remarkable upward trajectory in terms of market valuation but also underscores the dynamic nature of the global blister packaging industry.
Nonetheless, it is imperative to recognize that the global economic landscape is not devoid of external perturbations. The Russia-Ukraine conflict, which continues to reverberate across international borders, has cast a shadow on the prospects of a comprehensive economic resurgence following the COVID-19 pandemic, particularly in the short term. The consequences of this ongoing conflict are manifold, including the imposition of economic sanctions on multiple nations, an upswing in commodity prices, and disruptions in the global supply chain. As a result, the ramifications are acutely felt, as inflationary pressures ripple through the pricing dynamics of goods and services, consequently influencing numerous market segments worldwide.
Despite these challenges, the trajectory of the blister packaging market remains resilient and upward-bound. Forecasts indicate that by 2027, its market size is slated to burgeon to an impressive $29.67 billion, underpinned by a commendable CAGR of 6.9%. This enduring growth is a testament to the adaptability and resilience of the blister packaging sector, which continues to evolve in tandem with the ever-shifting global economic landscape. It underscores the capacity of this market to navigate through disruptions, demonstrating its capability to cater to the evolving needs of a complex and interconnected world.
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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 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
Asia-Pacific was the largest region in the blister packaging market in 2022.
The table of contents in TBRC’s blister packaging market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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