The blister packaging market is estimated to be valued at USD 31.83 Bn in 2024, growing at a CAGR of 7.2% over the forecast period (2024-2031). Furthermore, the demand for blister packaging from the pharmaceutical industry and food & consumer goods is expected to propel the market growth.
Market Dynamics:
The growth of the blister packaging market is expected to be driven by the increased demand for convenient packaging from end-use industries as well as wide range of applications of blister packs such as pharmaceuticals, food, cosmetics & personal care, industrial goods, etc. Blister packs provide various advantages such as product visibility, tamper evidence, ease of use, and protection of products from damage & contamination, among others. They act as a suitable packaging solution for various products which require moisture, oxygen, and light protection.
Market Drivers
Increasing Demand for Convenient and Easy to Carry Packaging
Blister packaging has gained immense popularity as it provides convenient and easy to carry packaging solutions for various products like medicines, small electronics, food products, and others. The rigid plastic backing and clear plastic cover allows the product to be viewed clearly while providing protection. It allows the product to be carried easily without the risk of damage. The growing consumer preference for convenient packaging has been a key driver contributing to the growth of the blister packaging market.
Expanding Pharmaceutical Industry
The pharmaceutical industry has shown strong growth over the past few years. With the increasing healthcare expenditure and rising cases of chronic diseases across the world, the demand for medicines and drugs has significantly increased. Blister packs have emerged as one of the most effective packaging solutions for tablets, capsules and other small medical products. Their child resistance and ability to maintain the shelf life of products make them ideal for pharmaceutical packaging. The expanding pharmaceutical sector is thus fueling the demand for blister packs globally.
Market Restraints
High Production Cost
Blister packaging requires specialized equipment for forming, sealing, and cutting operations. The dies and machinery involved have high set up and maintenance costs. Additional costs are incurred due to regular changes in packaging sizes and shapes as per the product requirements. The product development and tooling charges also add to the overall production expenses. This makes blister packs more expensive than other flexible packaging solutions. The high costs are a major challenge for its uptake in price-sensitive markets
Raw Material Price Volatility
Blister packs are predominantly made from plastics like PVC, PE, and PET. The prices of plastic raw materials are dependent on crude oil prices and thus remain volatile. Any increase in crude oil rates leads to a corresponding rise in polymer prices. This affects the overall production costs. Uncertain raw material costs pose major supply chain risks for blister pack manufacturers and restrict their ability to maintain consistent profit margins. Price fluctuations of inputs may restrain the blister packaging industry growth over the coming years.
Market Opportunities
Growing E-Commerce Industry
The rapid growth of e-commerce across the globe has opened new avenues for blister packaging. Products sold online require secure primary packages that can protect the contents during transit. Blister packs provide efficient product and brand protection. Their theft-proof and tamper-proof properties make them ideal for e-commerce fulfillment. This will drive greater demand for custom blister packs of different shapes and sizes from e-tailers and direct-to-consumer brands.
Innovative Packaging Designs
Advancements in blister packaging machinery allow the development of innovative designs catering to changing consumer preferences. Features like printed backgrounds, foldable extensions and easy-open notches are enhancing convenience and appeal. Sustainable packaging is also a new trend being explored using bio plastics.
Link - https://www.coherentmarketinsights.com/market-insight/blister-packaging-market-694
Key Developments
- In February 2024, ViiV Healthcare introduced a new Dovato blister pack in the U.S. This new packaging innovation aims to enhance convenience and ease of use for patients prescribed with Dovato, a medication used in the treatment of HIV-1 infection. The blister pack design may offer improved portability, organization, and potentially aid in medication adherence for individuals managing their HIV treatment regimen.
- In November 2023, Schreiner MediPharm launched a new child-resistant smart blister wallet. This innovative product is designed to provide enhanced safety and security for medications, particularly those that are prescribed for children or vulnerable populations. The smart blister wallet incorporates advanced technology to ensure that the medication is securely contained and protected from accidental ingestion or misuse.
- In May 2022, TerraCycle, an innovative recycling company recognized that a multinational conglomerate corporation, Honeywell’s Aclar barrier film blisters as technically recyclable for polyethylene terephthalate glycol (PETG) and polyvinyl chloride (PVC)-based blisters
- In April 2021, Amcor PLC, a global packaging company, launched the recyclable AmSky blister system for healthcare packaging. It is aimed to meet the stringent requirements of regulated and specialized pharmaceutical packaging.
Key Players
Amcor PLC, Blisters Inc., Honeywell International Inc., Blisterpak Inc., VisiPak, Sonoco Products Company, Powerpak Industries L.L.C., Clearwater Packaging Inc., Constantia Flexibles GmbH, Westrock Company, Algus Packaging Inc., Abhinav Enterprises, Uno Plast, Nithiya Enterprises, Thermopack, VisiPak, Sudham Packaging Industries, Entek Corporation, Grotal, and Nirmala Industries are the major players.