LA Blister Packaging Market Size

Latin America Blister Packaging Market Analysis

The LA Blister Packaging Market size is estimated at USD 1.47 billion in 2024, and is expected to reach USD 2.12 billion by 2029, growing at a CAGR of 7.42% during the forecast period (2024-2029).

The market size reflects the value of blister packaging across the end-user industries. Blister packaging refers to packaging in which the product is placed in pre-formed blisters or cavities and secured with cards or pads. This type of packaging is commonly used for consumer goods such as pharmaceuticals, industrial, and consumer goods.

• The pharmaceutical industry is the largest end-use industry for blister packaging and has a significant market share. This high share is due to the many advantages of blister packaging in the pharmaceutical industry, including improved product protection, ease of distribution, unit dosage packaging, and product identification. The spread of COVID-19 resulted in lockdowns and restrictions on workforce utilization in factories across the region, impacting demand and production. Considerable growth in end-user demand in specific applications has significantly expanded the scope of the industry.
• Innovative technology in blister packs, such as Radio Frequency Identification (RFID) tags deployed using seals on the outside packaging, is increasing due to the potential to provide individualized security throughout the supply chain. Blister packs protect compact medical devices and pharmaceuticals from oxygen, odors, and moisture, extending shelf life. Inadequate medication adherence is a pervasive problem that leads to chronic disease complications and increased healthcare costs. Packaging methods using blister packs may be widely recommended to address drug adherence issues over the forecast period.
• Blister packaging is now using more nanotechnology. Blister packs have improved barrier protection due to nanotechnology, making the packaging lighter. Pharmaceutical businesses in the Latin American region, which need better protection for their products against moisture, oxygen, and other gases, are among the primary users of this technology.
• Blister packaging is best suited for lightweight products packaging for products that are packaged in small units. The packaging is suited for retail handling, making it not a preferred choice in heavy goods handling. Such limitations have hindered the adoption and application of blister packaging for heavy goods, even in the current end-user industry applications, limiting growth opportunities. Therefore, the growth of this type of packaging has been gradual and organic.
• Owing to the spread of COVID-19, the market demand grew significantly. Retail customers have further inclined toward online purchasing. The COVID-19 pandemic has hit hard on the packaging materials supply in developing and developed countries. However, strong demand for pharmaceutical blister packaging has encouraged investment in the landscape. Industry players expect the healthcare industry to show strong demand for packaging technology. Along with the COVID-19 outbreak, global regulatory norm expansion, population health management, inventions, better-informed consumers, and a rise in over-the-counter medications have all contributed to the acceleration of blister packaging growth across the region.