April 23, 2024
Blister Packaging Market

Blister Packaging Market is Estimated to Witness High Growth Owing to Technological Advancements in Material Engineering

Blister packaging refers to a pre-formed plastic packaging product where the medicine or small non-food consumer goods are sealed inside a plastic cover or paper-aluminum foil-plastic laminate. Blister packaging offers product protection against external environmental factors such as moisture, oxygen, and other contaminants. It provides consumer convenience, allows easy identification and increases the product shelf life.

The global blister packaging market is estimated to be valued at US$ 20.02 billion in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the blister packaging market are BASF SE,DuPont,American Elements,Cabot Corporation,ZeniMac Exim,Southern Carbon Chemical,Reade Manufacturing Company,The Shepherd Chemical Company. Some of the key opportunities in the market include increasing demand for pharmaceutical and food packaging. Technological advancements in material engineering have enhanced the material properties and functionality of blister packaging films.

Market drivers
Growing pharmaceutical industry globally is a key driver bolstering the growth of blister packaging market. The pharmaceutical industry prefers blister packaging for drugs and capsules due to benefits like moisture protection, extended shelf-life and unit dose packing. Increasing healthcare expenditure per capita in emerging nations will further propel the demand for medicines in unit dose packages boosting the blister packaging consumption.

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Current challenges in Blister Packaging Market

The Blister Packaging Market size is facing few challenges which include high initial investment and increasing environmental regulations. The packaging machinery and molds required for blister packaging involves high capital investment which becomes difficult for small manufacturers to afford. Moreover, strict environmental regulations regarding non-biodegradable plastic packaging are forcing manufacturers to switch to eco-friendly materials which also increases the production cost. Retail space crunch and security of packaged products during transportation are other challenges.

SWOT Analysis
Strength: Blister packaging provides tamper evidence and product protection. It allows visible inspection of products and has high branding potential.
Weakness: High costs involved in designing customized blisters. Limited to small sized products only.
Opportunity: Growing pharmaceutical and food industries offer huge market potential. Developing markets in Asia Pacific emerging as new revenue generator.
Threats: Stringent regulations regarding non-recyclable plastics. Competition from flexible and rigid packaging substitutes.

Geographical regions in terms of value

North America accounts for the largest share in blister packaging market due to well established pharmaceutical industry and presence of major market players. The U.S. holds the highest market share owing to large pharmaceutical production. Europe is the second largest region driven by Germany, U.K., France and Italy. Asia Pacific is fastest growing market with increasing healthcare infrastructure and medical tourism in China and India.

Fastest growing geographical region

Asia Pacific region is poised to be the fastest growing market for blister packaging during the forecast period. Rising consumer incomes, healthcare reforms and population growth in India and China are fueling the demand for pharmaceutical products. Expanding OTC drug markets and international companies shifting their manufacturing bases to Asia further supports the growth of blister packaging industry. Initiatives to provide low cost drugs and address issues of medication adherence in developing nations offer lucrative opportunities for key players in coming years.

*Note:

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraaged AI tools to mine information and compile it