Professional Services News / Knowledge Sourcing Intelligence

Blister Packaging Market Is Estimated to Grow at a CAGR of 5.16% to Reach $12,197.471 Million in 2024: Knowledge Sourcing Intelligence

Via: ReleaseWire

Updated 10:45 PM CDT, Tue, August 06,2019

According to the report titled “Blister Packaging Market – Forecast from 2019 to 2024”, the market is estimated to witness a compound annual growth of 5.16% throughout the forecast period by volume the market is poised to grow at a CAGR of 6.70% from 1,068.964 thousand tons in 2018.

Uttar Pradesh, India -- (SBWIRE) -- 08/06/2019 -- The recent study on the blister packaging market covers an in-depth analysis of the market based on type, material, technology, end-users, and geography. The report also covers the country-level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018 to 2024. The report has segmented the blister packaging market by type (compartment, slide, wallet), by material (PVC, PVDC, PP, others), technology (cold-form, thermoformed), end-user (consumer goods, food, pharmaceutical), and geography into North America (United States, Canada, Mexico, others), South America (Brazil, Argentina, Others), Europe (Germany, France, United Kingdom, Others), Middle East and Africa (Saudi Arabia, Israel, Others) and Asia Pacific (China, Japan, India, South Korea, Others). The blister packaging market is expected to witness a sharp rise during the forecast period owing to its growing demand in food, consumer goods, and pharmaceutical industry. Rapid growth in prescription and Over-the-Counter (OTC) drugs market is leading to an increased demand for blister packaging solutions since it is the widely adopted packaging option around the globe. Also, as with most other packaged goods, pharmaceuticals need reliable and speedy packaging solutions that deliver a combination of product protection, quality, tamper evidence, patient comfort, and security needs. Expanding pharmaceutical and healthcare industry is anticipated to increase the blister packaging market share during the forecast period.

Wallet type blister packaging is expected to grow at a significant rate during the forecast period.
In the pharmaceutical industry, blister wallet packaging is fast gaining traction with the emerging trend of patient compliance to improve proper medication and treatment among the patients. These wallets are used in combination with blisters that contain tablets or other medical product. Blister wallets are available in both cold seal and heat seal out of which cold seal blister wallets are globally used by the players that include Sanofi Aventis, Cipla, Ranbaxy, Glenmark, etc. Easy incorporation of various options such as child-resistance, electronics, and additional booklet is one of the key reasons that are leading to the increased adoption of these wallets in the pharmaceutical packaging industry.

By material, PVC is expected to hold a dominant share in the market.
PVC is one of the prominent materials that is utilized in blister packaging and it holds a dominant share owing to its widespread use in the pharmaceutical packaging industry. The material is used as a forming film because it exhibits excellent thermoform ability, a high flexural strength, and good chemical resistance, low permeability to oils, fats, and easy tint ability. Good barrier protection at a cost-effective rate is one of the major factors due to which it is widely used in blister packaging in the emerging economies.

The Asia Pacific region is expected to witness significant growth during the forecast period.
Asia Pacific blister packaging market is estimated to have a significant share in terms of both value and volume in the global market, constituting 41.07% share in terms of value in 2018 on account of rapid urbanization and increasing manufacturing industry in countries like China. Also, improving the economic environment and stability in many countries within the region is further anticipated to bolster the blister packaging market in the region. Furthermore, growing investment in R&D activities in the packaging industry is anticipated to propel the market growth opportunities in the region in the coming years.

Some of the major players discussed in the reports are Amcor Limited, Bemis Company, Sonoco Products Company, WestRock, Honeywell International LLC, Tekni-Plex Inc., Dow Chemical Company, Klöckner Pentaplast Group, Constantia Flexibles, Mister Blister, VisiPak, Ecobliss Holding BV, Catty Corporation, Perlen packaging, Schreiner Group, Powerpack Industries LLC and Hangzhou Xunda Clamshell Packaging Co., Ltd. among others.

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