Albany, NY -- (SBWIRE) -- 04/09/2019 -- The global blister packaging equipment market demonstrates highly fragmented structure and top ten companies account for maximum share in the global blister packaging equipment market. The prominent companies operating in the global blister packaging equipment market are Sonoco Products Company, Marchesini Group S.p.A., Uhlmann Pac-Systeme GmbH & Co. KG, CAM Packaging Solutions and Bosch Packaging Technology. The manufacturers are focused towards strategic mergers and acquisitions in order to strengthen their presence across the globe. The players are also focused towards new product launch in order to sustain in the global blister packaging equipment market.
As per a report published by TMR, the revenue generated by the global blister packaging equipment market stood at US$2,035.9 Mn in 2016. The global blister packaging equipment market is expected to touch valuation of US$3,261.6 mn by the end of 2025. The market is likely to expand at robust 5.4% CAGR during the course of forecast period from 2016 to 2025.
On the basis of product type, solid packaging equipment is likely to account for 83% of the demand share by the end of 2017 and solid packaging equipment is likely to maintain its position during the course of forecast period. From a geographical point of view, Asia Pacific is expected to dominate the global blister packaging market both in terms of volume and value.
The increasing demand for packaging for several application purpose such as pharmaceuticals, food and consumer goods and these are some of the factor bolstering growth of the blister packaging equipment market in the coming years.
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Increasing demand of automation in Packaging Sector to Drive Global Blister Packaging Equipment Market
The increasing adoption of blister in packaging lines and high degree of packaging in production lines are some of the factors propelling demand for global blister packaging equipment market. The increasing demand to modernize manufacturing facilities in order to improve manufacturing facilities are some of the factors influencing demand for this market.
Reduce product change over time are other trend positively contributing towards growth of the global blister packaging equipment market. In addition growing usage of blister packaging equipment in production line are some of the major factor supporting growth of the global blister packaging equipment market. In addition, facilities reducing the cost of packaging and reducing labor expense are another factor stimulating demand for the global blister packaging equipment market.
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Unwillingness of Pharmaceuticals Sector to Adopt New Procedure to Hamper Market Growth
In contrast, lack of centralized purchasing and increasing competition majorly in the developed and developing economies in which number of companies are venturing and this is likely to restrain overall growth of the global blister packaging equipment market. Several companies are dependent on manufacturers of blister feeds which is utilized in blister packaging.
Another challenge faced by the blister packaging equipment market is reluctance of pharmaceutical industry to adopt new process, as they mostly deal with the sophisticated products and these are some of the factors negatively impacting overall growth of this market. In addition reluctance of customers to adopt the automated procedure.
However, increasing adoption of blister packaging process to optimize production and shift away from fit to one concepts and increasing demand for several product dispensing blister packaging are likely to create new opportunities in the global market. Shifting consumer preference towards aesthetic and convenience packaging are another factor bolstering market growth.