Blister Packaging Market is Continue To Witness Positive Growth During 2017-2027

Market push and pull factors and opportunity areas

The global blister packaging market is anticipated to reach a value of more than US$ 18 Bn by 2027 end and is poised to register a CAGR of 6.3% during the period of forecast (2017 to 2027). Several trends, opportunities, restraining factors, and challenges lurk within the global blister packaging market that impact the dynamics of the global market. North America is the leading region expected to contribute over 32% with respect to value share in 2017 and is anticipated to grow at a CAGR of 6.6% over the period of forecast, thereby dominating the global blister packaging market.

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There are several opportunities within the global blister packaging market. Attractive features in blister packaging for pharmaceuticals is an untapped opportunity. Innovation and development in blister packaging can facilitate product tracking on smartphones and also remind patients to take medicines on time. Also, in order to enable blind or disabled persons to identify pharmaceutical drug specification and details printed on blister packs, manufacturers can focus on blister packaging solutions with attributes that will enable users to get the basic product information easily. The penetration of smart packaging is gaining sufficient traction especially in the pharmaceutical industry, thereby offering convenience and ease for consumers. Owing to the tamper resistance and barrier properties, there is an increase in the adoption of blister packaging. These factors are driving the global blister packaging market.

However, certain loopholes can act as restraints in the growth of the global blister packaging market. Strong competition from parental flexible solutions is anticipated to hamper the growth of the blister packaging market in the long run. Moreover, blister packaging is not much of a preferred option for heavy products. This can limit the application of blister packaging and consumption thereby pulling revenue growth in the global blister packaging market.

North America will continue to dominate the global blister packaging market

The North America region is expected to grow at a robust growth rate to reflect a value of more than US$ 6 Bn by the end of 2027. With respect to volume, North America again stands first as it reflects a higher volume growth during 2017 and this trend is anticipated to continue over the period of forecast. Within the North America region, the food and pharmaceutical industries in the United States are expected to contribute to the growth of the blister packaging market. The Canada market is anticipated to grow at a similar rate as that of the U.S, and is poised to register a CAGR of 6.3% during the period of forecast. The U.S market accounts for about 88.1% of the North America blister packaging market.
Asia Pacific Excluding Japan (APEJ) reflects high growth potential

The Asia Pacific Excluding Japan (APEJ) region, consisting of emerging economies such as China, India and ASEAN countries, has shown impressive growth in the global pharmaceuticals market. Leading global players are actively considering APEJ as the epicentre for drug manufacturing. This is possible owing to low cost of labour, encouraging government initiatives to promote local manufacturing, and easy availability of skilled labour and resources. These factors have transformed the APEJ region into a potential market for blister packaging. Technological advancements in APEJ have contributed towards fuelling the growth of the blister packaging market in this region. Manufacturers are producing blister packs made of recyclable material that are eco-friendly in nature. China – the largest market for blister packs in this region – has started producing and supplying barrier films for the production of blisters packs. Both China and India are expected to grow at a similar rate and are the dominating countries in APEJ, with China expected to hold a higher market share by value than India. The APEJ blister packaging market is expected to grow at a CAGR of 6.2% during the period of forecast.

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This release was published on openPR.