Blister packaging is a pre-formed plastic packaging system where the product is sealed within a plastic shell filled with back seal foil or paper. It provides tamper evidence and easy accessibility to products like pharmaceutical tablets, capsules, ointments, and food supplements. Blister packaging offers high-quality protection, hygiene, and ease of transportation for healthcare and consumer goods.

The global blister packaging market size is projected to be valued at US$ 17.37 billion in 2024 and expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The expansion of healthcare and consumer goods industries is driving significant demand for blister packaging, thus representing a key opportunity. Rapid urbanization and growing consumer spending on healthcare and packaged food and beverages in emerging nations are encouraging international brands to focus on these untapped markets. Blister packaging offers product safety and longer shelf life, while its unit-level packaging reduces product wastage for companies. Leading pharmaceutical and FMCG brands are investing more in developing regions to gain market share. As the healthcare and consumer sectors grow in Asia Pacific, Africa, and South America, the need for efficient and high-quality blister packaging will increase substantially over the forecast period.

Porter's Analysis
Threat of new entrants: The threat of new entrants in the blister packaging market is moderately low as it requires high capital investment in machinery and technology. Significant packaging knowledge and expertise is also needed to design innovative products.

Bargaining power of buyers: The bargaining power of buyers is moderately high. Buyers can negotiate lower prices from suppliers due to the availability of a wide range of blister packaging material options available in the market.

Bargaining power of suppliers: The bargaining power of suppliers is moderately low due to the presence of a large number of raw material suppliers. Suppliers have less influence over prices.

Threat of new substitutes: The threat of substitutes is moderately high from alternative packaging types like pouches, bottles, and jars. However, blister packaging is considered ideal for small and lightweight products requiring tamper evidence.

Competitive rivalry: The competitive rivalry is high among existing players due to the availability of low switching costs and differentiated product offerings.

SWOT Analysis
Strengths: Wide applications in industries like pharmaceuticals, consumer goods, and industrial goods. Blister packages provide tamper evidence, extend product life, and improve aesthetic appeal.

Weaknesses: High manufacturing costs compared to alternatives. Vulnerable to rupturing if not designed properly.

Opportunities: Growing focus on child-resistant and senior-friendly packaging. Increasing demand for sustainable and recyclable packaging materials.

Threats: Stricter regulations regarding usage of plastic materials. Substitution threat from emerging flexible packaging types.

Key Takeaways
The Global Blister Packaging Market Size is expected to witness high growth over the forecast period of 2023-2030. The market size for 2024 is estimated to be US$ 17.37 Billion. Factors such as increasing consumption of packaged consumer goods and rising demand for tamper-evident pharmaceutical packaging will continue to drive market revenue.

Regional analysis shows that Asia Pacific dominates the global market and is projected to grow at the fastest CAGR during the forecast period. This can be attributed to rapid urbanization, rising middle-class population, and growing healthcare expenditure in emerging economies of China and India.

Key players operating in the blister packaging market are BASF SE, DuPont, American Elements, Cabot Corporation, ZeniMac Exim, Southern Carbon Chemical, Reade Manufacturing Company, and The Shepherd Chemical Company. These key players are focused on new product launches, acquisitions, and capacity expansions to strengthen their market presence. For instance, BASF SE offers a wide portfolio of blister packaging solutions under its brand name UhBassin.

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