The global cold formed blister foil market is anticipated to accumulate a market value of USD 4.15 billion in 2023 and is expected to garner a valuation of USD 7.4 billion by exhibiting a CAGR of 5.9% in the forecast period 2023 to 2033. The cold formed blister foil market reflected growth of 4% CAGR in the historical period 2018 to 2022.
The increasing demand for developed medical products from the consumers and adoption of several healthcare programs in developing countries is driving the growth of cold form blister packaging market. Pharmaceutical industries are incorporating cold form blister foil for packaging of medicines as it provides features like excellent formability and high malleability.
Cold formed foil consumes less energy during the formation process which further reduces the cost and cuts carbon emissions. Additionally, the availability of a broad range of shapes and packages with cold form foil is expected to shape the product demand in the coming years.
Also, increasing use of cold form foil in numerous applications such as packaging of consumer products, food and industrial products is a key factor contributing to the market growth in the forecast period.
On the other hand, presence of stringent regulation regarding packaging and labelling of products like food and other medical products including capsules, tablets, drugs, vials, ampoules, syringes, or liquid products is further anticipated to propel the product sales.
The exceptional features associated with the cold blister packaging include a complete barrier against water vapor, light and gases, excellent thermo-formability, high malleability for deep drawing blister cavities and high degree of thermal stability, sealing ability with normal aluminum foil, and effectual anti-counterfeit packaging. These are the major features that will drive the demand for blister foils during the forecast period.
Rising prevalence of chronic diseases due to changing lifestyle of the people, busy work-life schedules, sedentary lifestyles, and unhealthy eating habits are supplementing to the high demand for drugs for the treatment of illnesses that occurred due to such habits. This trend will further shape the product demand in the forthcoming period.
Along with this, the drugs consisting of active pharmaceutical ingredients (APIs) are highly moisture-sensitive. Due to complex structures of APIs, they might result in unwanted physical, chemical, or pharmacological alterations when exposed to moisture.
For keeping these ingredients safe, cold form blister packaging is used for full protection and prevention from exposure to the humid environment. Therefore, these drugs have a higher demand for cold form blister packaging made from aluminum foil.
Region-wise, the Asia Pacific region dominated the market with a market share of over 30% in 2020. This region is anticipated to retain its lead by accumulating over 37% market share by end of the projection period. China registered the maximum revenue share of over 31% in 2020 in the Asia Pacific. Easy availability of raw materials like PVC and aluminum in the country will support the market growth.
The growing prevalence of contract manufacturing across developing countries such as India and China are supporting market expansion in the country. The constantly rising demand for pharmaceutical packaging across the globe is the primary reason for outsourcing packaging services to third-party organizations.
Drug manufacturers are on the lookout for such service providers in developing economies because of the easy availability of cheap labor.
Likewise, India is anticipated to exhibit fastest CAGR of 6% from 2023 to 2033. The growth is attributed to the increasing investment in the healthcare sector of the region, coupled with the favorable government support for the growth and advancement of the pharmaceutical industry. Furthermore, the growing burden of chronic diseases among the residents is another key factor supporting the growth of the market.
In North America, the United States market for cold form blister packaging is commanded by healthcare applications including tablets and orally administered capsules. The escalating demand for medications in the country is primarily supporting the market expansion.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 4.15 billion |
| Projected Market Value in 2033 | USD 7.4 billion |
| Growth Rate (2023 to 2033) | 5.9% CAGR |
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Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing cold formed blister foils are expected to create lucrative opportunities for market growth during the forecast period.
Cold formed blister foil is made from placing aluminium or plastic foil between a thin layer of Polyvinyl Chloride and Nylon films using the process of dry lamination. The unique barrier properties and malleability of these materials allow it to be perfect for cold formed blister packaging. Cold formed blister foil helps in locking the aroma and sustaining in a micro-climate.
Cold formed blister foil is used to pack medicines, consumer goods and small food items. Cold formed blister foil acts as a barrier to UV rays from sunlight and moisture, keeping the product safe inside the packaging. It maintains the freshness and integrity of the packed product.
Cold formed blister foil provides characteristics like dead fold, light-weighted, flexibility and embossing abilities which aren’t provided by any other packaging materials other than foil.
Primary drivers influencing the growth of cold formed blister foil market are growing demand from pharmaceutical and miniature food packaging industry. With a busy lifestyle and increasing chronic diseases in youth, demand for medicines has increased and given rise to pharmaceutical packaging.
Based on material type, cold formed blister foil is categorized into plastic foil, aluminium foil and others. Plastic foil segment in material type is set to increase in the cold formed blister foil market due to its transparency, cost-effectiveness and durability.
The aluminium segment also holds a lucrative opportunity in the future for cold formed blister foil. Individual tablets and capsules are packed in their own cavity, spaced out like their shape and this maintains the integrity and shelf life of the medicine which is an important factor in pharmaceutical packaging.
Exposure to little moisture or exterior environment might hamper the coherence of the medicine and it may not be as effective to the patient.The outbreak of COVID-19 has given rise to the demand for medicines, which is expected to boost the cold formed blister foil market.
Government regulations regarding pharmaceutical and drugs packaging will further improve cold formed blister foil market. Cold formed blister foil market is expected to expand due to increasing demand for convenient and miniature packaging.
Continuous innovations and technological advancements are leading to better and inexpensive products development for cold formed blister foil market. Few factors like environmental concerns and container packaging for pharmaceuticals might hamper the demand of cold formed blister foil market.
Principal Consultant
The cold formed blister foil market has been analyzed based on sales growth and value across different Regions that include Asia Pacific, Latin, and North America, Oceania, Europe, and the Middle East and Africa. North America is the leading manufacturer and largest market for cold formed blister foil in the world.
Although, it is a matured market it continues to grow with newer innovations and technologies. Europe is also a budding market for cold formed blister foil. The rich pharmaceutical and excellent healthcare sector in Europe continuous to contribute towards cold formed blister foil market and is expecting growth in the forecasted period.
Asia Pacific is a huge market for cold formed blister foil due to its large population and demand for customer based products and is projected to grow with a soaring CAGR in the forecasted period. The Middle East and Africa have expected slow but steady growth in cold formed blister foil market in the coming time.
Cold formed blister foil market consists of many significant players. Some of the key players in the cold formed blister foil market are listed below:
The cold formed blister foil market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The report on cold formed blister foil market provide in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies of the cold formed blister foil market.
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1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Material Type 6.2. End-Use Industry 7. Global Market Analysis and Forecast, By Material Type 7.1. Plastic Foil 7.2. Aluminum Foil 7.3. Others 8. Global Market Analysis and Forecast, By End-Use Industry 8.1. Healthcare 8.2. Electronics 8.3. Consumer goods 8.4. Industrial goods 8.5. Food 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. East Asia 9.6. South Asia 9.7. Middle East & Africa (MEA) 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries 15. South Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East & Africa (MEA) Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Material Type and End-Use Industry for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Amcor Limited 19.2. Bemis Company, Inc. 19.3. Essentra PLC 19.4. Dow Chemical Company 19.5. Tekni-Plex, Inc. 19.6. Honeywell International, Inc. 19.7. E. I. du Pont de Nemours and Company 19.8. Constantia Flexibles Group GmbH 19.9. ACG Pharmapack Pvt Ltd 19.10. Baddi Foils Group 19.11. ACG 19.12. Amcor Limited 19.13. The Dow Chemical Company 19.14. WestRock Company 19.15. Bemis Company, Inc. 19.16. Sonoco Products Company 19.17. Constantia Flexibles 19.18. Display Pack, Inc.
Packaging
March 2019
REP-GB-5076
180 pages
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Cold Formed Blister Foil Market
