The global strip pack market is projected to experience a moderate compound annual growth rate (CAGR) of 5.2% through 2033, reaching a value of USD 289.92 million, up from its current valuation of USD 174.63 million in 2023.
Strip pack machines are seeing growing adoption due to their effective packaging solutions for pre-formed plastic packs, especially in the pharmaceutical sector where unit dosage requirements are essential. These machines are particularly suited for packaging tablets, ensuring product safety, durability, and protection against UV rays. However, the lack of centralized purchasing is cited as a key challenge, limiting market growth to some extent.
A promising development in the strip pack market is the introduction of bio-based plastic alternatives, which is creating valuable growth opportunities for manufacturers. This eco-friendly shift aligns with increasing consumer and industry demand for sustainable packaging solutions, helping companies capture a larger market share.
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The pharmaceutical industry, in particular, is driving demand for strip packs, with significant interest in blister packs and medical compliance packaging over recent years. Furthermore, strip packs are finding broader application across various consumer goods sectors, where their durability and protective features make them an attractive choice.
Prominent Drivers of the Strip Pack Market
- Increased Demand for Pharmaceutical Packaging: The rise in pharmaceutical production, especially in developing regions, has significantly boosted the need for strip packs, which offer secure and tamper-evident packaging for tablets and capsules.
- Consumer Preference for Convenient, Single-Dose Packaging: Strip packs offer a convenient, single-dose option, making them popular among consumers for their portability and ease of use, driving market growth.
- Cost-Effectiveness and Material Efficiency: Compared to traditional blister packs, strip packs use less material, reducing packaging costs and supporting eco-friendly practices, which appeals to both manufacturers and environmentally conscious consumers.
- Growth in the Nutraceuticals Sector: The expansion of the nutraceuticals industry, including dietary supplements, vitamins, and minerals, fuels demand for strip packs due to their ability to protect the contents from moisture and light.
- Rising Demand for Safe, Child-Resistant Packaging: Strip packs offer an added layer of protection against child access, making them a preferred choice for medications and potentially hazardous substances.
Key Takeaways for the Strip Pack Market
- Sustainability Trends: The market is witnessing a shift toward sustainable and eco-friendly materials, with manufacturers focusing on biodegradable or recyclable films to meet environmental regulations and consumer preferences for green packaging.
- Technology Integration: Innovations such as the use of smart packaging technologies in strip packs, including tamper-evident features and RFID tags, are enhancing their functionality and offering greater security and traceability.
- Regional Growth: Emerging markets, particularly in Asia-Pacific, are contributing significantly to the growth of the strip pack market, driven by industrialization, healthcare infrastructure development, and rising disposable incomes.
- Cost-Effectiveness: Strip packs offer cost-effective packaging solutions compared to other packaging formats, making them attractive to manufacturers aiming to reduce production and material costs while maintaining product quality.
Recent Development
- In 2019, IUV promoted consumer behaviors and corporate responsibility by encouraging the strip pack and packaging industries to eliminate plastic from their supply chains and prevent environmental damage. His technique has further supported the effective replacement of conventional materials without sacrificing quality, and it complies with the government’s bio-based materials standards.
- In 2019, Plexiform Packaging Services engaged in mergers and acquisitions to create vehicle packaging. Automotive packaging services are adapted to specific products, which improves part protection and reduces damage in transit.
Key Companies Profiled
- Constantia Flexibles Group GmbH
- Amcor Ltd.
- Wasdell Packaging Limited
- Bemis Company, Inc.
- Mikart, Inc.
- ACG Pharmapack Private Limited
- Svam Packaging Industries Pvt. Ltd.
Key Segments in The Strip Pack Market
By Type:
- Plastic
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polypropylene (PP)
- Others
- Aluminum
- Paper
- Others
By End-User:
- Medicines
- Nutraceuticals
- Powder & granules
- Food
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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