(MENAFN- America News Hour) Research Nester published a report titled “Blister Packaging Equipment Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global blister packaging equipment marketin terms of market segmentation by type, equipment type, technology, material, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global blister packaging equipment market is projected to grow at a CAGR of ~3% by attaining revenue ~USD 40 billion during the forecast period, i.e., 2023 – 2033. Factors such as, rising demand in the pharmaceutical industry and increasing sales of packed toys are anticipated to propel the growth of the market during the forecast period.
As of 2021, toy sales worldwide are estimated to be about USD 100 billion. Additionally, higher utilization of blister packaging in baby food packaging is further estimated to propel the market growth over the forecast period.
In 2022, the baby food segment was projected to reach about USD 280 billion.
Additionally, by end-user, the global blister packaging equipment market is segmented into food & beverage, healthcare, cosmetics, pharmaceuticals, and others. Out of these sub-segments, the pharmaceuticals segment is estimated to obtain the largest share of the market during the forecast period. The growth of the segment can be accounted to the higher demand for blisters in medicine packaging.
In 2020, the pharmaceutical industry amounted to USD 1 trillion.
Furthermore, the global blister packaging equipment market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a rapid pace over the forecast period on the back of growing inclination toward packed and ready-to-eat meals and rising penetration of major key players in the region.
It was estimated that approximately 35% of American adults ordered ready-to-eat meals in 2020.
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The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Escalation in Pharmaceutical Goods Manufacturing to Foster the Growth of the Market
National Health Expenditure (NHE) stated that average spending on prescription drugs grew by 4.4% in 2018.
In pharmaceuticals, blister packaging is also known as unit dose packaging and is highly utilized by medicine manufacturers since it is the most recommended way to pack them. Blister packaging is a method in which sheets are heated to produce bubbles or blisters to cover the body of the product. Therefore, such a higher requirement is anticipated to propel the growth of the market during the forecast period.
However, escalating concern for material waste of blister packaging is expected to operate as a key restraint to the growth of the global blister packaging equipment market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global blister packaging equipment market which includes company profiling of Tauriga Sciences Inc.Pharma Packaging Solution, Amcor Limited, Display Pack, Inc., The DOW Chemical Company, Tekni-Plex, Inc., Westrock Company, Honeywell International Inc., Sonoco Products Company, and Constantia Flexibles GmbH.
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 global blister packaging equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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