The blister packaging market growth is set to be propelled by the rising product usage in an extensive range of applications comprising industrial goods, food, consumer goods, and pharmaceuticals driven by an increase in manufacturing activities.
The industry expansion is impelled by the positive outlook of the consumer electronics segment in the U.S. In addition, numerous blister packaging manufacturers are entering into collaborations, partnerships, acquisitions, and mergers for maintaining their position in the market.
Citing an instance, in April 2021, Amcor announced the launch of its polyethylene-based, recyclable thermoform blister packaging for customer trials. The new packaging has been designed for meeting the strict requirements of regulated and highly specialized pharmaceutical packaging.
Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/1726
On this note, the blister packaging market size is anticipated to exceed USD 36.7 billion through 2027, cites the latest research conducted by Global Market Insights, Inc.
Some major trends that are likely to propel blister packaging industry growth are as follows:
Rising usage across the food sector
The blister packaging market size from food applications is expected to record a considerable revenue of more than USD 4.5 billion through 2027. This growth is accredited to the robust demand for frozen meat products in the regions of Europe and North America and the soaring popularity of clamshell blister packs for fruit packaging.
Furthermore, customized packaging for meat and fruits and the development of new thermoformed blister packs are expected to augment the demand for blister packaging materials over the estimated period.
Expanding pharmaceutical industry in Europe
Europe blister packaging market is poised to depict a CAGR of 5% between 2021 and 2027 driven by the presence of a large aging population and the higher demand for pharmaceutical products in the region.
Moreover, numerous pharmaceutical manufacturers in Europe are diverting their expertise towards facility expansion initiatives, opening up avenues of regional expansion. The escalated demand for frozen package meals is likely to boost product adoption over the analysis period.
Escalating demand for plastic & substrate
The plastic & substrate segment recorded a revenue of more than USD 15 billion in 2020 and will exhibit lucrative growth through the projected period. The material is extensively utilized as a forming film material in the packaging sector.
The ease of availability of materials and increasing cost effectiveness in comparison to aluminum foil are expected to augment product consumption through the forthcoming years. Plastic materials offer ease molding and lower materials are required in the blister packaging process for forming blister packs in comparison to aluminum films.
Request for customization @ https://www.gminsights.com/roc/1726
Increasing preference for thermoforming technology
Thermoforming technology is estimated to register a valuation of more than USD 30 billion through 2027 propelled by the improved aesthetics of thermoformed blister packs. Their rising usage across numerous applications is propelled by the considerable shelf life of these products.
The segment is supported by the integration of thermoformed blister packs with numerous sensors for tracking dose consumption and time. The technology provides an array of benefits to users comprising durability, ease of customization, limited requirement of production equipment, and others.
In a nutshell, the surging demand for high protection drug packaging against oxygen and moisture will augment blister packaging industry share through the anticipated period.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Email: [email protected]