Blister Packaging Market is projected to reach US$ 22.9 Bn by the year 2031

The demand for blister packaging is set to reach 5.18 thousand tonnes in 2021, according to a new study by ESOMAR-certified market research and consulting firm, Future Market Insights. Higher preference for blister packaging over carton boxes in pharmaceutical industry continues to fuel demand primarily. Blister packaging sales are also complemented by growing demand from food, consumer goods, and veterinary industries.

While the steady growth of the pharmaceutical industry is pushing the demand-supply curve upward, various guidelines for pharmaceutical packaging are further catalyzing the growth of blister packaging manufacturers.

For instance, as per the FDA guidelines, pharmaceutical packaging must-have features that prevent mix-ups and cross-contamination, specify procedures for examining packaging for suitability before packaging operations. Blister packaging fulfils all these criteria and hence it has high demand in the pharmaceutical sector.

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According to the India Brand Equity Foundation (IBEF), India is the largest provider of generic drugs globally, while Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the U.S. and 25% of all medicine in the U.K. Although the pharmaceutical sector holds major pie of value share in the global market, consistently increasing demand for blister packaging is also attributed to its cost-effectiveness.

According to Future Market Insights (FMI), the future growth outlook for the global blister packaging market seems promising as expenditure on healthcare and pharmaceutical across the globe is on a significant surge.

Key Takeaways from Blister Packaging Market Study

Carded blister packaging remains lucrative, capturing over 55% share

Pharmaceutical segment to maintain the lead in terms of end use, holding over one-third share

High demand for thermoforming technology in manufacturing blister packaging to fuel sales

By material, plastic and aluminium collectively projected to hold over 75% of market share

The United States to remain at the epicentre, holding over 84% market value

The United Kingdom, Germany, France, China, and a few others to emerge lucrative for the suppliers

"Leading manufacturers operating in the global blister packaging market are consistently enhancing blister packaging format by incorporating advanced packaging technologies such as thermoforming and cold forming. Furthermore, the rise in demand for blister packaging with high barrier film for excellent air, moisture, and light resistance is expected to further propel the growth of the blister packaging manufacturers in the near future," says an FMI analyst.

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Pharmaceutical Industry Growth Key to Blister Packaging Sales

Blister packaging, predominantly used for air-tight packaging, sealing, and storing of medicines such as tablets and capsules in the form of unit dosing, has high demand in the pharmaceutical sector. While the consumer preference for single serving of the medicines is raising the requirement of blister packaging, the exponential growth of the pharmaceutical industry is further catering to it.

The United States is the largest market for biopharmaceuticals, accounting for around a third of the global market, and is the world leader in biopharmaceutical R&D. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), U.S. firms conduct over half the world's R&D pharmaceuticals (US$ 75 billion) and hold the intellectual property rights on newer medicines. These figures represent high demand for blister packaging in pharmaceutical industry which in turn is fuelling the sales of the manufacturers.

Competitive Landscape

The blister packaging market is getting tougher in terms of competition experienced by the key players. In order to leverage the new opportunities, the key market players are focusing on launching better quality products. For instance,

Constantia Flexibles Group GmbH unveiled its new blister packaging solution named "Flexible Blister Packaging Solution" which runs on conventional strip packaging equipment and has similar barrier protections to that of traditional blister packaging despite having flexible film on both sides in 2019

Honeywell International Inc. launched its new Aclar Accel®, which is a new thermoformable barrier film for pharmaceutical packaging that provides faster service to companies at a lower cost while maintaining patient safety through increased protection for medicines in February, 2019

Some of the other prominent players in the blister packaging market are Sonoco Products Company, WestRock Company, Rohrer Corporation and Winpak Ltd. The Tier 3 players in the market hold 70-75% of the share while the key players contribute almost 25-30% of the global market.

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What to Expect in Our Report?

(1) A complete section of the Global Blister Packaging market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.

(2) Another broad section of the research study is reserved for regional analysis of the Global Blister Packaging market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.

(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Global Blister Packaging market.

(4) The report also discusses competitive situation and trends and sheds light on company expansions and merger and acquisition taking place in the Global Blister Packaging market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.

(5) Readers are provided with findings and conclusion of the research study provided in the Global Blister Packaging Market report.

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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

This release was published on openPR.