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Blister Packaging Market size was over USD 27.81 billion in 2023 and is projected to reach USD 69.5 billion by 2036, witnessing around 7.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of blister packaging is assessed at USD 29.43 billion.
Blister packaging will observe a mammoth demand, owing to the upsurge in manufacturing activities and the growth of inconveniently packed goods. An increment in the manufacturing industry by over 15% of global GDP and over 13% of employment which is positively influencing the market. According to the National Health Expenditure (NHE), the average spending growth on prescription drugs raised from 3.8% In 2010 to 4.4% in 2018.The outbreak of new diseases, growth in regulatory norms across the world have augmented the growth of blister packaging. Factors such as growing geriatric population, changing consumer lifestyles, increasing pressure on pharmaceutical companies to manufacture more medicines to be made available for patients, owing to a rise in diseases and stringent governmental regulations against counterfeit drugs is anticipated to drive the market over the forecast period.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.3% |
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Base Year Market Size (2023) |
USD 27.81 billion |
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Forecast Year Market Size (2036) |
USD 69.5 billion |
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Regional Scope |
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The market is segmented by material, packaging type, technology & end-user. Among these segments, the product type segment is further segmented to carded and clamshell, out of which, the carder blister packaging is anticipated to hold leading shares in the blister packaging market owing to commonly used in packaging of medicine, food products and small consumer goods on account of its cost-effectiveness and ability to be formed in different shapes. Under the material segment, the plastic sector is anticipated to hold the largest share owing to its application in almost all types of packaging variables. Moreover, plastic blister packaging offers good visibility of the product apart from providing secure and attractive packaging. At the same time, the cold forming sector of the technology segment constituted a moderate share in the market.
Our in-depth analysis of the global market includes the following segments
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By Material |
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By Packaging Type |
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By Technology |
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By End-User |
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Regionally, the blister packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America industry is set to dominate majority revenue share by 2036, on account of a growing shift from plastic bottles to blister packaging in the healthcare sector coupled with the rising demand for packaged food products in the region. Europe is anticipated to be a lucrative market during the same period owing to the increasing consumption of packed products, growing emphasis on packaging waste reduction, and continuous advancements and innovation in blister packaging.
May 2020: Tauriga Sciences Inc. announced that it has showcasedthe final blister pack design for its product, Tauri-gum, which is available inblack currant flavor and isinfused with cannabigerol.
Author Credits: Abhishek Anil
Copyright © 2024 Research Nester. All Rights Reserved
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