The Blister packaging is a term for several vivid forms of pre-formed plastic packaging utilized in packaging of small customer goods, pharmaceuticals, and food. Its protuberant features in packaging involves the protection of product from external aspect such as humidity and contamination for protracted period. Also, it safeguards the light-sensitive products against the UV rays. Whereas, the worldwide outbreak of COVID-19, impacts constructively towards the requirement for the Blister packaging.
According to the report analysis, ‘Global Blister Packaging Market to reach USD 40.29 billion by 2027’ states that as worldwide outbreak of COVID-19 results in lockdown of several economies to safeguard spread of virus amongst individuals which leads to the shutdown of several industries. However, the supply of essential goods such as food & beverages and medicines are unremitting in such worldwide pandemic that projected to generate a lucrative growth opportunity for the blister packaging market. Also, increasing requirement for blister packaging in the healthcare industries to safeguard the medicines and small medical devices from moisture, oxygen and odor is influencing the growth of market over the review years.
For instance: as per the World Health organization, worldwide spending on healthcare was USD 7.8 trillion during the year 2017, which is augmented from 7.6 trillion throughout the year 2016. However, blister packaging is restricted to be utilized in packaging of heavy items, which is limiting the growth of market over the review years.
Major market players involves in this report are Amcor Limited, Bemis Company, Inc., Westrock Company, D&W Fine Pack LLC, Sonoco Products Company, Constantia Flexibles GmbH, Klockner Pentaplast Group, Honeywell International Inc., Tekni-Plex, Inc. and Display Pack, Inc.
Although, the worldwide Blister Packaging Market is valued nearly USD 23.10 billion in 2019 and is projected to grow with a healthy growth rate of more than 7.20% over the forecast period of 2020-2027. The regional analysis of worldwide Blister Packaging market is measured for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. The North America is the leading/noteworthy region across the world in terms of market share owing to the due to the speedy growth in healthcare segment in the region. Whereas, the Asia-Pacific is also projected to exhibit uppermost growth rate / CAGR over the review period of 2020-2027. Aspects such as growing growth in food & beverage industries would generate the lucrative growth predictions for the Blister Packaging market around the Asia-Pacific region.
The pharmaceutical and healthcare industry holds the dominant share of the blister packaging market in Europe. The consumer goods sector is also expected to contribute a significant market share over the forecast period. Blister packaging also provides the possibility to create a compliance pack or calendar pack by labeling the prescription, to which patients can easily adhere. Therefore, in the near years, it is predicted that the market of blister packaging will increase around the globe more effectively over the upcoming years with the effective amount of financial contribution by organized and unorganized players.
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Ankur Gupta, Head Marketing & Communications