Fact.MR, a market research and competitive intelligence provider, reveals that at present, the global cold form blister packaging market is valued at US$ 1 billion and is forecasted to progress at a CAGR of 6% from 2022 to 2032.
The market for cold form blister packaging is rapidly expanding due to increasing investments in the healthcare sector. The growth in medical facilities and the introduction of several healthcare initiatives by governments all over the world are driving the demand for cold form blister packaging. Demand for packaging materials that provide the best protection and safety while extending product shelf life is anticipated to increase over the coming years. The pharmaceutical industry’s increasing packaging requirements and the high demand for cold-forming packs due to excellent product features are some of the factors boosting market expansion.
Cold form blister packs, which are highly used for the packaging of consumer goods, groceries, and medications, are products that are sealed in a cavity with a paper backing, aluminum, or film.
Demand for products made using cold-form foil packaging has increased as a result of rising disposable income, improved healthcare facilities, and government-backed measures to promote healthcare programs. It is anticipated that ongoing research and development in packaging foils will boost market expansion throughout the projection period.
Key Takeaways from Market Study
- The global cold form blister packaging market is set to reach US$ 1.8 billion by 2032.
- Market in Canada is projected to progress at a CAGR of 5% over the forecast period (2022-2032).
- The polyvinyl chloride segment is anticipated to rise at a CAGR of 5.8% from 2022 to 2032.
- Market in Germany is set to evolve at a CAGR of 4.5% through 2032.
“Cold form blister packaging of pharmaceutical products supports adequate insulation of medications from the outside environment and also offers high levels of protection, in addition to cost-effectiveness and ease of handling,” says a Fact.MR analyst
Winning Strategy
To maximize their profit margins and the safety of packed products, key companies are modernizing their packaging techniques and utilizing sophisticated equipment and materials. Due to the rising product demand across numerous industry verticals, top market players have been working to improve the quality of their products. The increasing attention of businesses on market development is a result of the expanding applications. Major companies offer customized products to meet customer requirements.
For instance,
- Sonoco Products Company announced an all-paper retail blister package as an excellent environmentally friendly replacement for thermoformed plastic blister packaging.