New York, June 29, 2021 (GLOBE NEWSWIRE) -- Blister Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Blister Packaging Market Research Report, types, applications , production methods,by materials and Region - Forecast till 2027”. , the market is projected to be worth USD 38.17 billion by 2027, registering a CAGR of 7.2% during the forecast period (2021 - 2027), The market was valued at USD 21.3 billion in 2020.
The blister packaging market outlook appears extremely promising. Rapidly growing healthcare and pharmaceutical sectors drive the market demand. In addition, the growth in population with increasing disposable income demands good healthcare and pharmaceutical products. Besides, vast industrialization and economic growth worldwide, alongside the vast advances in packaging technologies, foster the blister packaging market growth. With growing innovative applications of these packaging solutions, such as personal care and cosmetics, the market is projected to garner vast traction in the years to come
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Competitive Analysis
List of the Key Companies Profiled in the Blister Packaging Market Research Report are:
- Valley Industries
- Bemis
- Berry Plastics
- Dupont
- Albea
- Mitsubishi Chemical Holdings
- Steripack
- DOW Chemical
- Amcor Limited
- Constantia Flexibles
- others
The market appears highly competitive and fragmented, with many big and small market players forming a competitive landscape. They adopt strategic approaches for business expansion in emerging markets. To maintain their market positions and create new markets, industry players rely on strategic approaches and innovation. They make substantial R&D investments and keep themselves updated with new technological developments.
For instance, on Jun.04, 2021, Recro Pharma, a contract development and manufacturing organization (CDMO), announced the expansion of capabilities of its clinical trial services (CTS) offerings.
These added capabilities include clinical-scale sachet and blister packaging for clinical trial pharmaceuticals and a relationship with a European Union Qualified Person for its CTS offerings. Based on an audit conducted by the QP, Recro can meet relevant GMP manufacturing standards and requirements for clinical trial materials to be used in the European Union.
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COVID-19 Impact
Today, the average life expectancy has increased significantly, indicating a large population of older people would need medical care. Growth in infectious and chronic diseases boosts the blister packaging market size, promoting healthcare products. Furthermore, the increasing awareness among people about good health and wellbeing further impacts the market demand.
Regulatory changes demand constant legacy product testing or virtual update of all packaging solutions. This workload could be intimidating, especially for small packaging departments. However, this situation gives a unique opportunity for cost reduction, production performance, and user experience & safety. Further, this also allows various research grants from the public and private sectors to advance packaging innovation by optimizing stability testing of blister packaging for healthcare products.
COVID-19 impacted the global blister packaging industry positively. While the pandemic caused huge monetary losses to many other industries, it allowed this market to flourish. Over 70% of total blister packaging produced is consumed in the healthcare packaging system. Blister packaging is extensively used to package pharmaceutical products, medical supplies, and medical devices.
The pandemic escalated the demand for pharmaceuticals and medical products, which led to an increase in the demand for blister packaging solutions. On the other hand, manufacturers faced issues related to disrupted supply chains and raw material shortages. Also, attracting workers during the lockdown was a big issue that industry leaders faced.
The adverse impact on the customer ordering patterns or inventory rebalancing or disruption in raw materials or supply chain changed the market dynamics. However, the healthcare industry and investments in blister manufacturing determined determining the market demand. As a result, the market remained at a high pace and kept flourishing throughout 2020 and is estimated to continue beyond 2021.
The demand for medical supplies, pharmaceuticals, and healthcare products to address SARS-CoV-2 would keep rising steadily, acting favorable for the market. Furthermore, given risks and uncertainties associated with the ongoing economic and social consequences of the COVID-19 pandemic, the blister packaging demand could pick up in the recent future.
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Segments
The blister packaging market is segmented into types, applications, production methods, materials, and regions. The type segment is sub-segmented into carded blister packaging, consumer goods blister packaging, and clamshell blister packaging. Among these, the carded blister packaging accounts for the largest and faster-growing segment, witnessing vast consumption in food packaging and e-commerce industries.
The application segment is sub-segmented into pharmaceuticals, food & beverages, consumer goods, and others. The production method segment is sub-segmented into thermoforming and cold forming. The material segment is sub-segmented into PVC, PVDC, COC, cold form foil, and others. The region segment is sub-segmented into Europe, Americas, Asia Pacific, and rest-of-the-world.
Regional Analysis
The Asia Pacific region accounts for the largest blister packaging market share globally. Rapid expansion of end-use sectors like healthcare, food, consumer, and industrial goods is a major blister packaging market trend. Besides, the rapid growth in the packaging sector and the ample availability of raw materials and cost-competitive workforces influence the blister packaging market size.
Also, the burgeoning pharmaceutical and medical device companies and high demand for packaging in the region boost the blister packaging industry in the region. Malaysia, China, Indonesia, and India are the major contributors to the region’s blister packaging revenues.
Segmentation of Market covered in the research:
Information by Information by types (Carded Blister Packaging, Consumer Goods Blister Packaging, Clamshell Blister Packaging), by applications (pharmaceuticals, food & beverages, consumer goods & others), by production methods (Thermoforming & Cold forming), by materials (PVC, PVDC, COC, Cold Form Foil and others) and Region (North America, Europe, Asia-Pacific, and Rest of the World)
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