Blister Packaging Market to exceed $36.7 billion by 2027
Published Date: April 26, 2021 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights, Inc., the Blister Packaging Market size is estimated to surpass USD 36.7 billion by 2027.
The rapidly expanding pharmaceutical industry across the globe along with the positive outlook of electronics and consumer goods sectors are the key drivers of the blister packaging market. Several advantages offered by blister packaging including lower retail shelf space, economic, high production output, and excellent environmental protection among others are driving the usage of blister packs in a wide range of applications.
The growing demand for several oral dose drugs across the globe is pressurizing pharmaceutical manufacturers to invest in new high production blister packaging equipment. For instance, in August 2019, Skyepharma Production S.A.S. added a new blister packaging equipment at its production facility in France. The new equipment can produce blister packaging with all types of materials including paper, aluminum foil, and plastic substrate. Such investments by several pharmaceutical manufacturers will showcase a high growth factor for blister packaging market expansion over the study timeframe.
Integration of recording sensors into blaster packs is a new trend in pharmaceutical packaging
The integration of several sensors into blister packs to record time, date, and location during the usage of specific medical dosage will further drive the blister packaging market share. Keystone Folding Box Co. has developed such technology, in which blister packs were incorporated with printed sensor grid and electronic module. These packaging solutions are ideal for clinical trials where dosing data recording is precisely required. Such types of innovations and development of new blister packs for a wide range of applications including food and consumer goods will further drive the market growth.
Stringent regulations associated with blister packs for the pharmaceutical sector may pose a challenge to market growth. Regulation compliances are necessary, as the smallest defect in the packaging may destroy the medical dose. According to the U.S. Food and Drug Administration, blister packs must mention proprietary name, lot number, strength, bar code, expiration date, manufacturers name, and others. Complying with such regulations requires additional time, effort, materials, and costs that may affect the profitability of manufacturers. However, the development of low-cost high production blister packs equipment may enable drug manufacturers to produce large packaging in an economic way.
Browse key industry insights spread across 265 pages with 273 market data tables & 26 figures & charts from the report, “Blister Packaging Market By Technology (Thermoforming, Cold-forming), By Type(Carded, Clamshell), By Material (Aluminum Foil, Paper & Paperboard, Plastic Substrate), By Application (Pharmaceutical, Food, Consumer Goods, Industrial Goods) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Cold-forming blister packs technology is projected to grow at over 5% CAGR by 2027. The cold-forming blister packs use aluminum as the main material. The usage of aluminum enabled manufacturers to produce packs with nearly complete barriers for oxygen, light, and moisture. Such cold-forming packs are essential for highly sensitive drug dosage. Further, the development of new cold packs with deep cavities without increasing blister card size and design of small blister card enabled users to lower packaging costs, thereby enhancing profitability. For instance, in April 2016, Amcor plc launched new clod form blister packs for pharmaceutical applications.
Carded type blister packs hold dominance in the blister packaging market and are expected to generate around USD 26.2 billion by 2027 owing to ease of handling, ability to form a wide range of shapes for several applications, along with excellent damage prevention properties. Further, carded packs are used in several medical and food packs owing to lower shelf cost by optimizing the products footprint, enhanced aesthetics of packaging, and tamper resistance solution.
The paper & paperboard materials segment generated around USD 3.2 billion revenue in 2020. The material is largely used in the consumer goods industry owing to the availability of single- or double-sided printed paperboard that offers several benefits to packaging such as attractive printing and product information can be provided in economical way. Further, the usage of medical coated papers in packaging of syringes will further drive the material consumption over the forecast timeframe.
Pharmaceutical application dominates the blister packaging market
Pharmaceutical application dominated the blister packs usage with around 70% volumetric shares in 2020. The industry witnessed a sudden rise in demand for blister packs in pharmaceutical applications in 2020 owing to the exponential rise of multivitamin and other oral tablets consumption during ongoing COVID-19 pandemic. Further, the same trend is expected to follow in FY2021. The development of new advanced packaging for highly sensitive tablets along with rising elderly population will drive the blister packaging market growth.
North America will hold held a market share of around 25% in 2027 and will exhibit a 6.1% CAGR in terms of revenue between 2021 and 2027. There is a growing demand for pharmaceutical products in the region owing to high elderly population in region. Further, the region has pharma production hub with the presence of several drug manufacturers including Johnson & Johnson, Novartis, Pfizer, and others. Ongoing packaging innovation and positive outlook for the consumer goods market in region will further drive the blister packaging market demand.
Key players engaged in the blister packaging industry include Amcor plc, The Dow Chemical Company, WestRock Company, Honeywell International Inc., Tekni-Plex, Display Pack, Constantia Flexibles, Formpaks, Blisterpak, Inc., and others.
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