Jul 7, 2020 2:00 AM ET
iCrowd Newswire – Jul 7, 2020
The global blister packaging market was valued at approximately $23.10 billion in 2019 and it is expected to grow with a healthy growth rate of more than 7.20% during the forecast period of 2020 to 2027.
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The global blister packaging market is driven by the growing demand for blister packaging by the healthcare industry to protect the medicine from oxygen, moisture, odor, and so on. For instance, global spending in the healthcare industry increased from $7.6 trillion to $7.8 trillion from 2016 to 2017, as per the World Health Organization (WHO). However, this product has a limitation that it can be used for packaging of heavy items and hence it is a key factor hampering the growth of the global blister packaging market during the forecast period. Furthermore, in the prevailing situation of pandemic, supply of essential products such as medicine, food & beverages are continued and hence it is expected to bring the lucrative opportunities of this global market to grow in the coming years.
The global blister packaging market was segmented on the basis of technology, type, material, end user, and region. By technology, the global blister packaging market was sub-segmented into cold forming, and thermoforming. By type, the global blister packaging market was sub-segmented into clamshell, and carded. By material, the global blister packaging market was sub-segmented into paper, plastic films, and paperboard. By end use industries, the global blister packaging market was sub-segmented into industrial goods, healthcare, food & beverages, and consumer goods.
By geographical region, the global blister packaging market is studied among North America (US, Canada, Mexico), Europe (Germany, France, Italy, Spain, UK, rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, rest of Asia-Pacific) and LAMEA (Brazil, Saudi Arabia, South Africa, rest of LAMEA). Among which, North America is expected to lead the global blister packaging market during the forecast period. This is attributed to the rapid growing healthcare sector in this region. On the other hand, Asia-Pacific is also expected to exhibit highest CAGR during the forecast period of 2020 to 2027 owing to factors including rapid growth in food & beverage industries across Asia-Pacific region.
Major market player included in research study of the global blister packaging market are Bemis Company, Inc., D&W Fine Pack LLC, Amcor Limited, Constantia Flexibles GmbH, Honeywell International Inc., Display Pack, Inc., Westrock Company, Sonoco Products Company, Klockner Pentaplast Group, and Tekni-Plex, Inc.
Recent Developments in the Global Blister Packaging Market
Bemis Company, Inc. is a manufacturer of pressure-sensitive materials and flexible packaging products. In the beginning of the year 2017, the company launched Calypso, an innovative platform specially designed to improve foil lidding. This product solves the issues related to traditional die cut foil lidding.
Amcor develops and produces specialty cartons, flexible packaging and rigid containers for products of the home and personal-care, medical-device, pharmaceutical industries. In the year 2019, the company launched AmLite Ultra Recyclable, a unique and high-barrier flexible packaging which can reduce a pack’s carbon footprint up to 64%.
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Keywords: Blister Packaging Market