Richmond, March 04, 2024 (GLOBE NEWSWIRE) -- According to a research report "Contract Packaging Market”, by Material Type (Plastic & Polymers, Paper & Paperboard, Glass, Aluminium Foil, and Others), Packaging (Primary, Secondary, and Tertiary), End User (Food & Beverage, Pharmaceutical, Consumer Goods, Electronics, E-Commerce, and Others) and Region - Global Forecast to 2030.
Global Contract Packaging Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 61.8 Billion |
| Market size value in 2030 | USD 122.1 Billion |
| CAGR (2023-2030) | 8.9% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Material Type, Packaging, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Contract Packaging Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The contract packaging market is a dynamic sector within the packaging industry, this market encompasses a wide range of industries, including food and beverage, pharmaceuticals, cosmetics, and consumer goods. The factors driving the growth of the contract packaging market include increasing globalization, where companies discover standardized packaging solutions across multiple regions, and the rising demand for cost-effective packaging solutions. The increasing focus on environmental sustainability has directed to innovations in eco-friendly packaging materials and processes, driving demand for sustainable contract packaging solutions. Growing demand for personalized packaging designs and branding to create unique and memorable consumer experiences. Maintaining consistent quality standards across diverse packaging projects and meeting stringent client requirements can be challenging, requiring robust quality assurance processes and systems.
Major vendors in the global Contract Packaging Market :
- Aaron Thomas Company
- Assemblies Unlimited
- Complete Co-Packing Services Ltd
- Diamond Packaging
- Green Packaging Asia
- Hollingsworth
- Industrial Packaging
- Multi-Pack Solutions
- Pharma Tech Industries
- Sharp Packaging Services
- Southwest Packaging
- Stamar Packaging
- UNICEP Packaging
- Others
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Growing Demand for E-Commerce
Contract packaging providers play a crucial role in this by offering services such as custom packaging designs, protective packaging materials, and efficient order fulfillment processes optimized for e-commerce operations. Contract packaging companies are equipped to handle this demand by offering flexible packaging solutions that can adapt to varying product sizes and shipping requirements. The global nature of e-commerce presents opportunities for contract packaging companies to expand their reach and serve clients across different regions and markets. The growing demand for e-commerce has spurred innovation and growth in the contract packaging market, driving the need for specialized packaging solutions, creative designs, efficient logistics, and international capabilities. Contract packaging providers play a vital role in helping e-commerce brands navigate the complexities of online retailing and meet the evolving needs and expectations of modern consumers.
Market Dynamics
Drivers:
- Growing demand for e-commerce
- Increasing outsourcing trends in companies packaging services
Opportunities:
- Expanding in emerging markets with rising demand for packaged goods
- Growing demand for eco-friendly Packaging
Expanding in Emerging Markets with Rising Demand for Packaged Goods
Expanding into emerging markets with rising demand for packaged goods presents a significant opportunity in the contract packaging market. As these markets experience economic growth and an increase in disposable income, consumer preferences shift towards packaged products, creating a burgeoning demand for efficient and high-quality packaging solutions. Contract packaging providers can capitalize on this opportunity by offering tailored packaging services that cater to the unique needs of emerging markets, such as smaller batch sizes, localized branding, and compliance with local regulations. By establishing a presence in these markets and partnering with local businesses, contract packagers can tap into a rapidly growing consumer base and position themselves as key players in meeting the packaging demands of emerging economies.
North America dominates the market for Contract Packaging Market.
North America accounts for the largest revenue share in the global Contract Packaging Market, with the United States accounting for the highest market share in the region driven by high prevalence of established industries such as food and beverage, pharmaceuticals, and personal care products in the region contributes significantly to the demand for contract packaging services. With a wide range of industries such as pharmaceuticals, food and beverage, cosmetics, and consumer goods thriving in the region, there is a consistently high demand for contract packaging services. Favorable business regulations and a conducive business environment foster the growth of the contract packaging sector in North America, solidifying its leading position in the global market.
Asia pacific region is expected to grow at highest CAGR in 2023. The region's rapid economic growth has led to the expansion of various industries, including food and beverage, pharmaceuticals, cosmetics, and consumer goods. The vast population in the Asia Pacific region contributes to the significant consumption of packaged goods, driving the need for efficient and cost-effective packaging solutions. The prevalence of expanding industries, manufacturing hubs, large consumer markets, technological advancements, regulatory compliance requirements, and strategic location collectively drive Asia Pacific's dominance in the contract packaging market.
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The Plastic & Polymers Segments is anticipated to hold the Largest Market Share during the Forecast Period
Plastic and polymer materials offer a wide range of advantages in packaging, including durability, flexibility, lightweight, and cost-effectiveness. Plastic packaging provides excellent barrier properties, protecting products from moisture, oxygen, light, and other external factors that can degrade product quality and shelf life. Advancements in plastic manufacturing technologies have led to the development of innovative packaging solutions such as flexible packaging, pouches, and blister packs. These packaging formats offer convenience, convenience, and shelf appeal, driving consumer preference and further boosting the demand for plastic packaging services. This cost-effectiveness and sustainability aspect further contribute to the dominance of the plastic and polymers segment in the contract packaging market.
Segmentations Analysis of Contract Packaging Market: -
- By Material Type
- Plastic & Polymers
- Paper & Paperboard
- Glass
- Aluminium Foil
- Others
- By Packaging
- Primary
- Secondary
- Tertiary
- Others
- By End Use
- Food & Beverage
- Pharmaceutical
- Consumer Goods
- Electronics
- E-Commerce
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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