Increasing Role of Packaging in Strengthening Brand Identity to Drive Demand for Blister and Other High Visibility Packaging Solutions: Fact.MR Report
ROCKVILLE, MD, UNITED STATES, June 24, 2024 /
EINPresswire.com/ -- According to Fact.MR, a market research and competitive intelligence provider, the global
blister and other high visibility packaging market is anticipated to touch US$ 95 billion by 2033, advancing at 6.6% CAGR from 2023 to 2033.
Blister and other high visibility packaging increase product visibility, improve product identification, and protect against damage and contamination. These packaging solutions are employed in numerous industries, including cosmetics, pharmaceuticals, healthcare, packaged foods and beverages, and industrial goods. Compared to other packaging types, such as rigid bottles, blister and other high visibility packaging occupy less retail shelf space and give a superior hang-hook display, resulting in lower costs.
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Blister and other high visibility packaging are useful in manufacturing processes because quick product identification leads to high sale conversion rates. Furthermore, it allows the consumer to evaluate the aesthetic appeal of the product before purchasing it, allowing them to make an informed decision. Rising demand from end-use industries such as food, healthcare, pharmaceuticals, industrial goods, and consumer goods is propelling the worldwide target market forward.
The food industry makes extensive use of blister and other high visibility packaging. Increasing demand for easy-to-prepare, quick, semi-processed food products around the world is constantly providing chances for blister and other high visibility packages. The growing demand for convenience foods is pushing manufacturers to employ more visible packaging, as ease of use is important in customer purchasing decisions.
Moreover, the rapidly expanding pharmaceutical industry is also increasing the demand for blister and other high visibility packaging. Recent FDA regulations mandating all prescription drugs supplied in hospitals and nursing homes to be packed in unit dose formats with barcodes are boosting the blister and other high visibility packaging market. These regulations favor blister and other high visibility packaging in order to decrease dispensing errors.
End-use businesses are increasingly resorting to packaging solutions that improve the visual appeal of their products, resulting in quick sales. Furthermore, the focus is on packaging solutions that provide additional benefits such as communicative graphic design, extended shelf life, and package flexibility, among others.
Key Takeaways from Market Study
The global blister and other high visibility packaging market is valued at US$ 50 billion in 2023. Worldwide sales of blister and other high visibility packaging are expected to hit US$ 95 billion by 2033.
The market is projected to evolve at a CAGR of 6.6% from 2023 to 2023. North America accounted for 35% share of the global market in 2022.The carded blister packaging segment captured 38% of the global market share in 2022.
“The global blister and other high visibility packaging market is projected to profit from the rapidly growing food and pharmaceutical sectors. Moreover, the market is expected to witness massive growth due to the increasing importance of packaging as a marketing tool and the growing requirement for product distinctiveness in commoditized markets,” says a Fact.MR analyst
Regional Analysis
North America is likely to dominate the global blister and other high visibility packaging market during the forecast period due to the strong growth in the regional end-use industries such as food, healthcare, and pharmaceutical. The United States is expected to lead the North American market during the study period.
Asia Pacific and Europe are expected to follow North America in terms of growth. The Asia Pacific market is predicted to experience considerable growth due to rising awareness, increased consumer product consumption, and expanding population.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global blister and other high visibility packaging market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of product (carded blister packaging, clamshell packaging, windowed packaging, skin packaging, other high visibility packaging) and application (healthcare, consumer goods, industrial goods, food, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
Explore More Studies Published by Fact.MR Research:
Cold Form Blister Packaging Market: Worldwide demand for cold form blister packaging is expected to increase at a CAGR of 6% from 2022 to 2032. At present, the global cold form blister packaging market is valued at US$ 1 billion and is estimated to reach a market size of US$ 1.8 billion by 2032.
Point of Purchase Packaging Market: The global point of purchase packaging market is projected to expand at a CAGR of 6.6% through 2033. As such, worldwide demand for point-of-purchase packaging solutions is anticipated to reach a market value of US$ 31.5 billion by the end of 2033, up from US$ 16.6 billion in 2023.
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