India Cold Form Blister Packaging Market Set to Reach USD 993.7 Million by 2029

Published | 29 May 2023

India cold form blister packaging market is flourishing due to the country’s thriving pharmaceutical, food processing, and consumer products industries, and significant investments by major corporations in the country's cold form blister packaging market.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India cold form blister packaging market size at USD 512.25 million in 2022. BlueWeave expects the India cold form blister packaging market size to grow at a significant CAGR of 11.24% during the forecast period between 2023 and 2029, reaching a value of USD 993.68 million by 2029. During the period in analysis, the growth and expansion of the pharmaceutical sector, food processing industry, consumer products industry, and others are likely to drive the expansion of India cold form blister packaging market. Furthermore, the expansion of India's consumer goods industry is likely to benefit the cold form blister packaging market. According to the India Brand Equity Foundation, the country's packaged food market size is predicted to reach USD 70 billion by 2025. Between April 2000 and March 2020, the industry or sector got investments worth USD 16.28 billion. In recent years, major corporations have made large investments in the country's cold form blister packaging market which will further boost the market’s growth in the coming years.

Opportunity: Surging demand from food sector

The food companies in India have increased their demand for cold form blister packaging in recent years. Cold form blister packing is a popular food packaging solution due to its superior barrier qualities, which protect the food from infection and extend its shelf life. The increased need for packaged food products is one of the key factors driving demand for cold form blister packaging in the food sector in India. In India, for instance, packaging is the fifth largest sector in the country's economy and one of the fastest growing sectors. The sector is developing at a CAGR of 22%–25%, according to the Packaging Industry Association of India (PIAI). Furthermore, the population growth, changing lifestyle habits, and the rise of e-commerce have resulted in an increased demand for packaged food goods, which has resulted in an increased need for cold form blister packaging. As a result, rising demand for cold form blister packaging from the food industry is expected to boost the market expansion.

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Impact of COVID-19 on the India Cold Form Blister Packaging Market

The COVID-19 pandemic did not have an impact on India's cold form blister packaging business. The pandemic did highlight several significant holes in the pharmaceutical and other industries supply lines, emphasizing the need to de-risk those supply chains. Companies would be looking for short or mid-term contingency plans to focus on lowering their supply chain risks, according to Dr. Reddy Laboratories, one of the country's main pharmaceutical players. Due to the Indian government's stringent lockdown measures, businesses began looking for local packaging providers to alleviate the pressure on their supply chain. The pandemic caused an increase in demand for anti-bacterial and anti-viral packaging which increased the demand for cold form blister packaging during the pandemic period.

Segmental Information

India Cold Form Blister Packaging Market - By Application

Based on application, the India cold form blister packaging market is segmented into healthcare, consumer products, electronics & semiconductors, industrial goods, tablets & capsules, inhalants, food & confectionery, and others. The healthcare segment accounted for a significant market share during the forecast period. The healthcare segment includes orally delivered medicine packaging, such as tablets, capsules, and inhaler medications. Aluminum is a popular material for cold form blister packing in the healthcare industry. Furthermore, the advancing pharmaceutical industry as a result of government initiatives in India, particularly to increase healthcare programs, will likely accelerate the growth of the pharmaceutical packaging market in India, an increasing demand for cold form blister packaging. Furthermore, pharmaceutical packaging is critical in ensuring product safety and providing excellent lifesaving pharmaceuticals, medical devices, and treatments.

India Cold Form Blister Packaging Market - By Region

Based on region, the India cold form blister packaging market is segmented into North India, South India, East India, and West India. During the forecast period, the North India region is expected to grow significantly during the forecast period. The region, comprising the states of Delhi, Haryana, Uttar Pradesh, Punjab, and Rajasthan, is a center for pharmaceutical and food processing businesses. The high concentration of pharmaceutical manufacturing plants in the region is one of the key factors driving the growth of the cold form blister packaging market in North India. The pharmaceutical sector in North India is well-established and rapidly expanding. Because of its high barrier characteristics and tamper-evident features, cold form blister packaging is frequently employed in the pharmaceutical business.

Competitive Landscape

The India cold form blister packaging market is highly competitive, with all the players continually competing to gain a larger market share. The key players in the market include Shreeji Shrink System, Krish Pharmapack, Rollcon Technofab India Private, Svam Packaging Industries Pvt. Ltd., Avonflex Polymers Pvt. Ltd., Prashant Plastic Industries, and Pack World. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisition to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity in the India Cold Form Blister Packaging Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Cold Form Blister Packaging Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Cold Form Blister Packaging Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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