The global blister packaging market is set for substantial growth, with sales projected to reach US$ 29.3 billion in 2024, expanding from a market size of US$ 27.6 billion in 2023. The market is anticipated to exhibit a year-over-year growth of 6.1% in 2024. Over the forecast period, revenue is expected to grow at a compound annual growth rate (CAGR) of 6.5%, culminating in a total market valuation of US$ 55.1 billion by 2034. This growth is driven by the increasing adoption of blister packs across various sectors, including pharmaceuticals, food, and consumer goods.
The global pharmaceutical sector’s increasing production output has created a significant demand for pharmaceutical packaging, particularly blister packs. The precise packaging capabilities of blister packaging formats, such as carded and clamshell blisters, make them preferred choices for pharmaceutical companies.
The market growth is further supported by the growing expenditure on healthcare and the outsourcing trend in the pharmaceutical industry. Pharmaceutical companies are increasingly adopting contract development and manufacturing services to reduce costs and complexity.
Request Your Sample Report and Supercharge Your Business Strategy! https://www.futuremarketinsights.com/reports/sample/rep-gb-4648
Prominent pharmaceutical companies are investing heavily in research activities to enhance their product pipelines. This investment in research and development drives the demand for pharmaceutical packaging, including blister packs. As new products are developed and launched in the market.
Child-resistant and senior citizen-friendly packaging formats are gaining prominence in the blister packaging market. Packaging manufacturers are focusing on designing and manufacturing blister packs with child-resistant and tamper-evident features. To ensure safety and prevent accidental poisoning in children.
The market is also witnessing the emergence of smart blister packs. Incorporating digital technology, these blister packs provide functionalities. Such as dosage reminders, time temperature indications, and product quality indications.
Thermoforming technology is expected to dominate the blister packaging market, accounting for more than three-fourths of the market share in the next decade. The segment is projected to expand by 1.9 times its value from 2021 to 2031.
Plastics play a dominant role in blister packaging, holding a significant share of 43.8% in 2022. Plastics offer cost-effectiveness, lightweight properties, and high-volume manufacturing capabilities, making them preferable over alternatives like glass or metal.
The use of biodegradable plastics in blister packaging is expected to reduce environmental pollution. The consumption of plastic blister packs is predicted to reach over 2.8 million tons by the end of 2026.
In the regional analysis, the United States accounted for a substantial share of 27.4% in 2022. The United States pharmaceutical industry has experienced significant growth due to rising per capita consumption and expenditure on drugs. As well as the presence of prominent pharmaceutical companies.
Germany holds a 6.5% market share in the European blister packaging market. The country’s pharmaceutical industry is expected to generate significant demand for blister packs, supported by investments in production and research and development.
Get in Touch with Our Sales Team to Secure Your Copy of the Report Now!
https://www.futuremarketinsights.com/checkout/4648
China has witnessed a surge in demand for prescription drugs, driven by a rapidly growing aging population. With around 10% of the population aged 65 and above, there is considerable demand for oral-form drugs due to weaker immune systems and higher illness incidence.
Recent Developments
- Amcor PLC, a worldwide packaging firm, deploys the recyclable AmSky blister system for healthcare packaging in April 2021. Its goal is to satisfy the strict criteria of regulated and specialized pharmaceutical packaging.
- TerraCycle, an innovative recycling company, recognized Honeywell’s Aclar barrier film blisters as technically recyclable for polyethylene terephthalate glycol (PETG) and polyvinyl chloride (PVC)-based blisters in May 2022.
- Pharmaworks, a developer of blister packaging technology for the consumer products, pharmaceutical, and contract packaging industries, was bought by ProMach. A provider of packaging machinery solutions, in March 2020. This program aims to broaden ProMach’s product portfolio and blister packaging applications.
Key Segments Covered in the Market Report
Blister Packaging Market by Product Type:
- Clamshell
- Carded
Blister Packaging Market by Technology Type:
- Cold Forming Technology
- Thermoforming Technology
Blister Packaging Market by Material Type:
- Plastic
- PVC/Vinyl
- PET
- PE
- Others
- Aluminum
- Paper & Paperboard
- Others
Blister Packaging Market by End Use:
- Food
- Pharmaceuticals
- Veterinary & Nutraceuticals
- Medical Devices
- Electronics & Electricals
- Industrial Goods
- Consumer Goods
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
Comments
0 comment