With the development of the market in recent years, the medical and health industry has an increasing demand for blister packaging, which is good news for blister processing factories.
The blister packaging market size is estimated to grow from USD 18.65 billion in 2016 to USD 28.38 billion in 2022 at an estimated CAGR of 7.2%. The blister packaging market is expected to grow at a high rate owing to factors such as growing middle-class population, increasing demand in the healthcare industry, and popularity of convenient packaging.
In terms of value, the plastic film segment accounts for the largest market share by material and is expected to grow at the highest CAGR during the forecast period. This growth is due to its use in almost all types of packaging as it provides good product visibility and provides safe and attractive packaging. Plastic is also used as a raw material for making blister packaging because it is durable, clean, lightweight, transparent and cost-effective.
In the usage segment, the pharmaceutical industry is expected to grow at the highest rate due to high demand for pharmaceutical packaging while it provides durability and product protection and safety features. Blister packaging for health care products reduces the possibility of product contamination. It also protects healthcare products from moisture, gases, light and temperature.
In 2016, North America held the highest share of the total blister packaging market in terms of value, followed by Asia Pacific and Europe, as manufacturers focused on developing low-cost blister packaging. However, as the blister packaging market in developed countries matures, the US and Canadian markets are expected to grow the fastest between 2016 and 2022. Asia Pacific is expected to grow the fastest over the forecast period. This is attributed to the large customer base of FMCG products and consumer durables owing to the growing population of the countries in the region; thus, this is expected to instead drive the growth of the blister packaging market.