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.

Market Insight

Contract 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.

The 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.

Based on 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.

Segment Covered

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.

Companies Profiled:

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.

Report Highlights:

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.