(MENAFN- GlobeNewsWire - Nasdaq) NEWARK, DEL, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The global blow-fill-seal equipment market is estimated to be around US$ 2.2 billion in 2023. The market is anticipated to register a CAGR of 3.3% from 2023 to 2033. The worldwide demand for blow-fill-seal equipment, in terms of value, is expected to reach US$ 2.9 billion by 2033.
Rapid development in the global packaging industry has triggered the use of bow-fill-seal equipment and technology for pharmaceuticals and food & beverage packaging. The unique ability of BFS equipment to pack formulated drugs in a clean and sterilized environment boosted the demand from these two sectors during the pandemic years.
Demand for BFS equipment surged during the pandemic years of 2020 and 2021 with the growing demand for hygienic and contamination-free packaging. Following the outbreak of COVID-19, consumers became increasingly conscious regarding the packaging of food and beverage products, leading to higher adoption of BFS equipment.
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The pharmaceutical segment is projected to contribute over 90% of sales in the global blow-fill-seal equipment market. The unique ability of BFS equipment to pack formulated drugs in a clean environment, without any human interference is projected to fuel market growth. Countries such as India and China extensively ordered the BFS equipment to ensure the drugs are used once through this packaging format.
“Rising demand for aseptic drug delivery has bolstered the need for prefilled syringes and injectables. To enhance the drug's shelf life and efficacy, healthcare companies are adopting BFS technology, propelling sales of blow-fill-seal equipment,” says Ismail Sutaria , Principal Consultant at Future Market Insights.
Key Takeaways from the Blow-Fill-Seal Equipment Market Study
The United States is the leading market in the adoption of blow-fill-seal equipment and is poised to advance at 2.3% CAGR through 2033. In Europe, the United Kingdom could witness higher adoption of blow-fill-seal equipment, advancing at 3.5% CAGR. In Asia, China is recognized to be the most lucrative market for blow-fill-seal equipment, and sales are expected to rise at a CAGR of 5.1% through 2033. India is another remarkably emerging market for blow-fill-seal equipment in Asia, with an annual growth rate for blow-fill-seal equipment pegged as high as 5.7% through 2033.
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Competitive Landscape for the Blow-fill-seal Equipment Market
Due to the presence of a large number of market players providing blow-fill-seal (BPS) packaging machines, the overall market tends to be highly fragmented and diversified. Leading blow-fill-seal equipment industry players are employing market strategies to scale their business, including mergers and acquisitions, joint ventures, and distribution channel diversification.
Several end users requiring efficient packaging still use blow-fill-seal equipment and technology to ensure product safety, especially in the food & beverage and pharmaceutical industries. On top of that, increasing consumption of soft drinks and milk products is expected to create a conducive environment for the BFS equipment market.
Key Players:
Rommelag Kunststoff- Maschinen Vertriebsgesellschaft GmbH Hunan CHINASUN Pharmaceutical Machinery Co. Ltd. Bosch Packaging Technology GmbH Weiler Engineering Inc. Brevetti Angela S.R.L. Marchesini Group S.p.A. Serac Inc. GEA Group SIPA S.p.A. Sidel S.A.
Recent Developments in the Blow-fill-seal Equipment Industry
Woodstock Sterile Solutions developed a new system technique and cold BFS packaging that can help reduce the temperature effect on molecules, including biologics. The Leading blow-fill-seal (BFS) manufacturing company received a patent for this new technique in the United States in December 2021.
Leading packaging solutions company AR Packaging purchased Kroha, which makes cartons and folding pamphlets in Germany, in November 2020. AR Packaging Company aims to concentrate more on healthcare packaging across European countries as a result of this purchase.
A renowned packaging firm called Coveris, which is based in the United States, purchased Plasztik-Tranzit Kft in March 2020. The acquisition aims to increase the company's capabilities for blow-fill-seal packaging in the food, medical, and film industries while producing flexible packaging solutions.
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Blow-fill-seal Equipment Market by Category:
By Production Capacity:
Up to 5,000 containers/hr. 5,000-10,000 containers/hr. Above 10,000 containers/hr.
By Product Type:
Bottles Ampoules Vials Prefilled Syringes & Injectable
By End-use Industry:
Pharmaceuticals Food & Beverage Cosmetics & Personal Care Other End-use Industries
By Regional Markets:
North America Market Latin America Market Western Europe Market Eastern Europe Market Asia Pacific excluding Japan (APEJ) Market Middle East & Africa (MEA) Market Japan Market
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging . Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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The global blow fill seal technology market is bound to grow on a vigorous note 2031 at a CAGR of 9%. It is expected to reach US$ 6.2 Billion by the year 2031.
The adoption of blow fill seal (BFS) technology in Korea is poised to surge at an 8.0% CAGR through 2033. It is on track to reach a valuation of US$ 39.9 million by 2033.
The sales outlook for BFS technology in Western Europe is exceptionally promising, as the industry is projected to exhibit a CAGR of 9.5% between 2023 and 2033.
The adoption forecast of blow-fill seal (BFS) technology in Japan is predicted to register an average CAGR of 6.2% through 2033. It is predicted to gain a valuation of US$ 303.7 million by 2033.
The value of the blow molded plastic market is anticipated to reach a high of US$ 35,096.49 million by the year 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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