Blister Packaging Machinery Consumption Global Market Report 2023
Major players in the blister packaging machinery consumption market are Amcor PLC., ACG Pharmapack Pvt. Ltd., The Dow Company, Inc., WestRock Company, Sonoco Products Company, Constantia Flexibles GmbH, Klockner Pentaplast Group, Honeywell International Inc.
New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blister Packaging Machinery Consumption Global Market Report 2023" - https://www.reportlinker.com/p06433791/?utm_source=GNW
, Tekni-plex, Inc., Display Pack, Inc., Pharma Pack, Inc., Winpak Ltd., SteriPack Group, DuPont De Nemours, Inc and Perlen Packaging.
The global blister packaging machinery consumption market grew from $21.65 billion in 2022 to $24.27 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The blister packaging machinery consumption market is expected to grow to $32.32 billion in 2027 at a CAGR of 7.4%.
The blister packaging machinery market consists of sales of roller packaging, rollar packaging and plate packaging.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Blister packaging machinery refers to machinery used to seal product in a cavity, usually with a paper backing or an aluminium or film seal.
Asia-Pacific was the largest region in the blister packaging machinery market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the blister packaging machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main technology of blister packaging machinery consumption are thermoforming and cold forming.The thermoforming technology of blister packaging machinery consumption is the process of converting a flat plastic sheet into a three-dimensional shape using heat, vacuum, and pressure.
Thermoplastics are plastics made of thermoforming that become homogenised when heated. The blister packaging machinery consumption types are carded and clamshell, that are made up of material such as plastic, paper, and aluminium, which are applied to pharmaceutical industry, food industry, cosmetics and personal care, and consumer electronics.
The rising demand for the pharma industry is expected to propel the blister packaging market.The high economic growth, combined with increasing health insurance penetration, has increased spending on healthcare and medicine.
Furthermore, People’s reliance on medication grows as they live longer lives with better access to treatment.The ability of the market to produce high-quality, low-cost medicines represents a massive business opportunity for the domestic industry.
The insurance industry also influences medical spending.This increased demand in medicine has pushed the use of blister packaging machinery market to protect products against external factors, such as humidity and contamination, for extended periods.
For Instance, according to Enterprise Ireland’s published report on the UK pharmaceutical sector, the value of the UK pharmaceutical sector is expected to rise by 19.3% to £25 billion ($30.26) between 2018 and 2023, representing a 3.6% annual increase. Therefore, the rising demand for the pharma industry will drive the blister packaging machinery consumption market.
New product innovations in the packaging design of blister packs have emerged as a key trend gaining popularity in the blister packaging machinery consumption market.Innovative packaging entails innovative techniques and solutions that help products stand out from the crowd and increase the product’s growth and success with more sustainable and cost-effective solutions over the package’s lifespan.
Major companies operating in the packaging sector are focused on developing new product innovations to strengthen their position in the market.For instance, In April 2022, Huhtamaki, a Finland-based consumer packaging company, launched Push Tab® blister lid, a first-to-market, aluminum-free, mono-material PET blister lidding for the healthcare industry.
It significantly improves packaging recyclability while remaining compatible with existing high-performance blister packaging lines without requiring modifications or additional investment.
In March 2020, ProMach, an a US-based manufacturing company providing packaging machinery solutions, acquired Pharmaworks for an undisclosed amount.Through the addition of Pharmaworks, ProMach would significantly expand its portfolio of pharmaceutical solutions and was expected to enhance its integrated solutions capabilities.
Pharmaworks is a US-based company providing blister packaging technology for pharmaceutical and consumer goods. Pharmaworks specialized in the creation of blister packs, a packaging format commonly used in over-the-counter (OTC) and prescription unit dose pharmaceutics.
The countries covered in the blister packaging machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The blister packaging machinery consumption market research report is one of a series of new reports that provides blister packaging machinery consumption market statistics, including blister packaging machinery consumption industry global market size, regional shares, competitors with a blister packaging machinery consumption market share, detailed blister packaging machinery consumption market segments, market trends and opportunities, and any further data you may need to thrive in the blister packaging machinery consumption industry. This blister packaging machinery consumption market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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