Blister packaging market worth $18.25 billion by 2022
The report "Blister Packaging Market by Material (Plastic Film, Paper & Paperboard, Aluminum), Technology (Thermoforming, Cold forming), Heat Seal Coating (Water-based, Solvent-based), Application (Food Consumer Goods, Industrial Goods, Healthcare) - Global Forecast to 2022" published by MarketsandMarkets (marketsandmarkets.com), The Blister Packaging Market is projected to grow from $11.94 Billion in 2015 to $18.25 Billion by 2022, at a CAGR of 6.25%. The Blister Packaging Market is growing courtesy of increasing applications in healthcare industry, ageing population, and rising demand for conveniently packaged products. Growing demand from the healthcare industry also provides an opportunity to the market to grow further, especially in the emerging Asia-Pacific and Latin American regions.
Thermoforming technology to gain maximum share during the forecast period
The materials on which the thermoforming process is used include low density polyethylene (LDPE), high density polyethylene (HDPE), polyvinyl chloride (PVC), polypropylene (PP), polystyrene (PS), and others such as acrylic. Thermoforming technology is widely used to manufacture aluminum and plastic blister packs. Thermoforming of plastics require low initial tooling and equipment cost as compared to injection and blow molding techniques. Thermoformed plastic films give wide design scope and a visually pleasing appearance leading to a rise in its demand for blister packaging.
The healthcare industry projected to grow at fastest rate from 2015-2022
Blister Packaging Market is segmented on the basis of application into healthcare, consumer goods, industrial goods, and food. Blister packaging is widely used in healthcare products as it protects the product from moisture and light, thus extending the shelf life of products. The healthcare sector is further segmented into pharmaceutical and medical. Blister packaging for healthcare products reduces the opportunities for product contamination. It allows consumers to take a safe, adequate level of medicine so as to make it convenient to handle and store. Hence, leading to rise in demand for blister packaging. It also protects healthcare products from moisture, gas, light, and temperature.
Asia-Pacific to play a key role in the Blister Packaging Market
On the basis of key regions, the Blister Packaging Market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The European region held the largest share among all the regions in 2014. This is mainly due to rising consumption of packed products, focus to reduce packaging waste, rising healthcare awareness, and continuous innovation & technological developments in both pharmaceutical & medical industries, which is transforming the healthcare packaging industry further, thereby driving the growth of the Blister Packaging Market.
The global Blister Packaging Market ecosystem comprises of blister packaging vendors and service providers such as Amcor Limited (Australia), The Dow Chemical Company (U.S.), WestRock Company (U.S.), Bemis Company, Inc. (U.S.), and Sonoco Products Company (U.S.). Other players include Constantia Flexibles (Austria), Klockner Pentaplast Group (Germany), Display Pack, Inc. (U.S.), Tekni-Plex, Inc. (U.S.), and Pharma Packaging Solutions (U.S.).
The scope of the report covers detailed information regarding the major factors influencing the growth of the Blister Packaging Market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the Blister Packaging Market.