New York, United States, Fri, 28 Aug 2020 04:55:39 / Comserve Inc. / — The blister packaging market is anticipated to record a robust CAGR during 2020-2028. The market is thriving on the back of the upsurge in manufacturing activities and the growth of inconveniently packed goods across different end user industries.
Research Nester published a report titled “Blister Packaging Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the blister packaging market in terms of market segmentationby material, packaging type, technology, end-user and by region
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
Blister pack is referred to the different types of pre-formed plastic packaging that are used to package different types of small consumer goods, food, and pharmaceuticals.The packaging consists of a cavity or pocket made from a formable web, usually a thermoformed plastic and having a backing of paperboard or a lidding seal of aluminum foils or plastic. They safeguard the medicines and small medical devices from moisture, odor, oxygen, and also increases their lifespan.The blister packaging market issegmented byproduct type into 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.
The blister packaging market is anticipated to record a robust CAGR over the forecast period i.e. 2020-2028. The market is thriving on the back of the upsurge in manufacturing activities and the growth of inconveniently packed goods across different end user industries. An increment in the manufacturing industry by over 15% of global GDP and over 13% of employment which is positively influencing the blister packaging 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.
Based on the region, 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 is anticipated to hold the leading shares of the blister packaging market on account of rising demand for packaged food products coupled with a growing shift from plastic bottles to blister packaging in the healthcare sector in the region.
Increasing Demand for Blister Packaging in the Healthcare and Pharmaceutical Sector
The increasing concern for the outbreak of new diseases is raising the need amongst the manufacturers of pharmaceutical products in the healthcare and pharmaceutical industry to follow the protocols of packaging pharmaceutical products, which is anticipated to drive the growth of the global blister packaging market. Moreover, the growth in regulatory norms across the world in the consumer goods and food and the healthcare and pharmaceutical industry is further anticipated to support the development of the growth of blister packaging market. Download Sample of This Strategic Report
However, the existence of pre-fillable syringes and unsuitability for heavy itemsexpected to operate as a key restraint to the growth of the blister packaging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the blister packaging market which includes company profiling of Tauriga Sciences Inc. (OTC:TAUG), Bemis Company, Inc., The DOW Chemical Company (NYSE:CTA), Westrock Company (NYSE:WRK), Sonoco Products Company (NYSE:SON), Constantia Flexibles GmbH, Honeywell International Inc. (NYSE:HON), Tekni-Plex, Inc.,Display Pack Inc. andPharma Packaging Solutions.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the blister packaging marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.
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