A recent report published by Infinium
Global Research on the contract packaging market provides an in-depth analysis of
segments and sub-segments in the global as well as regional contract packaging
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional contract packaging market over the short
term as well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of the global contract packaging market. According
to the report, the global contract packaging market is projected to grow at a
CAGR of 15.9% over the forecast period of 2019-2025.
packaging is the overall process of assembling a product into its final
finished packaging. It includes the services regarding packaging for clients by
outsourcing partners for different packaging solutions they offer. These
companies are third-party vendors that specialize in packaging activities.
changing preference of manufacturing firms towards contract packagers for cost
optimization is a major factor contributing to the expansion of the contract
packaging market. The rising pharmaceutical consumption globally drives the
growth of the contract packaging market. Boxes and shipping cases are very
important to online retailers. Packages with instructional information, images,
logos, and artwork have immense value in the competitive e-commerce industries.
The rising adoption of e-commerce business led to the rise in demand for
contract packaging. In 2019, e-commerce sales globally amounted to 3.53
trillion US dollars and projected to grow to 6.54 trillion US dollars in 2022.
The improvement in medical sciences and additions to existing medicines
multiplies the packaging needs of medicines stimulating the development of the
contract packaging market. The surge in demand for specialized packaging
propels the growth of the contract packaging market. The rise in the growth of
prescription drug sales globally promotes pharmaceutical drug production
contributing to increased demand for contract packaging. In addition, the
rising adoption of automation and machines in packaging activities boosts the
expansion of the contract packaging market. On the flip side, increasing prices
of elastomer raw materials used in contract packaging hinder the growth of the
contract packaging market. Moreover, technological advancements create several
opportunities for the growth of the contract packaging market.
geography, the global contract packaging market is classified into North
America, Asia-Pacific, Europe, and the Rest of the World. North America is
expected to hold a premium share in the global contract packaging market. The
rising demand for packaging in food and beverages, pharmaceuticals, beauty
care, and other sectors in North America drive the growth of the contract
packaging market in North America. Asia-Pacific region is anticipated to grow
in the global contract packaging market with a healthy CAGR over the forecast
period. The quality packaging capabilities and its cost competitiveness in
India contributes to the growth of the contract packaging market in
Asia-Pacific. Europe is expected to have a steady growth rate in the global
contract packaging market owing to the rising demand for specialized packaging
for FMCG products.
The report on the global contract
packaging market covers segments such as packaging and end-user industry. On
the basis of packaging, the sub-markets include primary, secondary, and
tertiary. On the basis of the end-user industry, the sub-markets include food,
beverage, household and personal care, and pharmaceutical.
The report provides profiles of the
companies in the market such as Multi-Pack Solutions LLC, Pharma Tech
Industries, Inc., Reed Lane Inc., Sharp Packaging Systems LLC, Genco Inc., CCL
Industries Inc., Aaron Thomas Company, Inc., Unicep Packaging, LLC, Stamar
Packaging Inc., AmeriPac Inc., and other companies.
The report provides deep insights into
the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of contract packaging market. Moreover, the study highlights current
market trends and provides forecast from 2019-2025. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.