DUBLIN--(BUSINESS WIRE)--The "Contract Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global contract packaging market size reached US$ 56.46 Billion in 2021. Looking forward, the market is set to reach US$ 104.58 Billion by 2027, exhibiting a CAGR of 10.82% during 2021-2027.
Contract packaging, also known as co-packaging, assists businesses in hiring other companies to manage their packaging and supply chain requirements. It involves the primary and secondary packaging of finished goods, point-of-purchase (POP) display builds, inventory management, and distribution of the goods to the market or directly to the consumer.
It offers resources required for printing services, labor force, and research and development (R&D) activities. As a result, contract packaging is utilized in bulk manufacturing and cargo shipping. Besides this, it also finds extensive applications in the pharmaceutical, retail, and personal care industries across the globe.
Contract Packaging Market Trends:
The thriving packaging sector represents one of the key factors propelling the growth of the market. Moreover, contract packaging offers faster turnaround, warehouse and logistics support, increased scalability, and improved productivity.
Numerous contract packaging companies have an in-house design team to help come up with the final product packaging, which allows for troubleshooting with prototypes to ensure products best fit the packaging. These companies also provide services, such as sterilization, labelling, shrink-wrapping, plastic/thermoform packaging production, and package assembly.
In addition, contract packaging companies work with product managers and manufacturers to consult, plan, customize, and execute the process according to the timeline. Apart from this, contract packaging is increasingly being employed in the food and beverage (F&B) industry as it can aid in reducing costs and improving product visibility.
This, coupled with the escalating demand for ready-to-eat (RTE) food products on account of hectic lifestyles and busy schedules of individuals, is creating a positive outlook for the market. Furthermore, the introduction of environment-friendly packaging options is projected to strengthen the growth of the market.
Key Questions Answered in This Report:
- How has the global contract packaging market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global contract packaging market?
- What are the key regional markets?
- What is the breakup of the market based on the packaging type?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the service?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global contract packaging market and who are the key players?
- What is the degree of competition in the industry?
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Aaron Thomas Company Inc.
- AmeriPac
- Assemblies Unlimited Inc.
- Co-Pak Packaging Corporation
- Hollingsworth
- Kelly Products Incorporated
- Marsden Packaging Ltd.
- Multi-Pack Solutions LLC
- Reed-Lane Inc.
- Sonic Packaging Industries Inc.
- Sterling Contract Packaging Inc.
- Unicep Packaging LLC (Silgan Holdings Inc.)
Key Market Segmentation:
Breakup by Packaging Type:
- Primary
- Secondary
- Tertiary
Breakup by Material:
- Plastic
- Metal
- Glass
- Paper and Paperboard
Breakup by Service:
- Bottling
- Bagging/Pouching
- Lot/Batch and Date Coding
- Boxing and Cartoning
- Wrapping and Bund
- Labelling
- Clamshell and Blister
- Others
Breakup by End Use Industry:
- Food and Beverage
- Pharmaceutical
- Electronics
- Personal Care
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/3tgbk6
