The blister packaging market size is projected to grow from USD 24.1 billion in 2020 to USD 34.1 billion by 2025, at a CAGR of 7.2%. The blister packaging market is witnessing growing demand from end-use industries such as healthcare, food, consumer goods, and industrial goods. Its growth is attributed to cost-effectiveness and tamper-evident design for product protection.
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APAC is the fastest-growing market for blister packaging market
APAC is expected to register the highest CAGR during the forecasted period, owing to the rapid expansion of end-use sectors such as healthcare, food, and consumer & industrial goods sectors. Factors such as rising disposable income, growing middle-class population, rising consumption of high visibility products, and the growing healthcare industry will support the growth of the blister packaging market over the forecast period.
Recent Developments
In January 2021, Sonoco Products Company entered into partnership with Integrated Systems, Inc. (US). This partnership will help the company to enhance its automation activities and increase efficiency in global manufacturing operations.
In September 2020, Amcor Plc developed first recyclable retort flexible packaging with improved environmental footprint of packaging to 60% (approximately). This will allow recycling of high-performance packaging such as wet pet food, ready-meals, baby foods, and pre-cooked soups.
In August 2020, Sonoco Products Company acquired Can Packaging (France). This acquisition will add two manufacturing facilities, and a R&D facility to the company’s existing assets and fortify its market position in Europe region.
In July 2020, Dow launched INNATE TF an extension to INNATE precision packaging family. It is a polyethylene resin for tenter frame biaxial orientation films. These are high performance, recyclable, and consumer convenience films.
In May 2020, Constantia Flexibles acquired TT print (Russia). This acquisition will add pharmaceutical packaging production plant to the company’s asset and will strengthen its pharma division.
Amcor Plc (Switzerland), DOW (US), WestRock Company (US), Sonoco Products Company (US), Constantia Flexibles (Austrai), Klockner Pentaplast Group (Germany), E.I. du Pont de Nemours and Company (US), Honeywell International Inc. (US), Tekni-Plex (US), and Display Pack (US) are the key players operating in the blister packaging market. Download PDF Brochure to Know More Assumption: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=24775059
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