The global contract packaging market was valued at US$ 60.5Bn in 2022, and is expected to exhibit a CAGR of 9.7%, in terms of revenue, over the forecast period (2023-2030) to reach US$ 127.1 Bn by 2030.
Contract packaging is the service that the companies provide to the manufacturing companies. The packaging of a product is necessary to store it.The packaging of products requires labor, machinery, and which are more expensive and time-consuming. Therefore, manufacturers hire packaging companies to avoid these problems and concentrate on their core operations. Co-packers, also known as contract packers, provide structural design and testing, print and graphic services, and production labor. In some cases, the contract packers may even provide full service fulfilment. The contract packers can specialize in the packaging of specific consumer products such as electronic, automotive, food and beverages, pharmaceutical, and personal care products.
Global Contract Packaging Market - Impact of Coronavirus (COVID-19) Pandemic
With the outbreak of the COVID-19 pandemic, the contract packaging market has witnessed tremendous growth, as the e-commerce market has taken a boom, due to lockdown and social distancing norms where the majority of the consumers has been preferring online channel for shopping, and companies have been outsourcing their packaging end to end or standalone services to meet the growing demand
Global Contract Packaging Market: Growth Drivers
Global Contract Packaging Market: Market Restraints
Contract Packaging Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2022: | US$ 60.5 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 9.7% | 2030 Value Projection: | US$ 127.1 Bn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Aaron Thomas Company, Multipack Solutions, Pharma Tech Industries, Reed-Lane Inc., Sharp Packaging Services, UNICEP Packaging, Green Packaging Asia, Jones Packaging Inc., Stamar Packaging, Budelpack Poortvliet BV, and Complete Co-Packing Services Ltd |
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Growth Drivers: |
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Restraints & Challenges: |
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Market Trends
Consumers are increasingly concerned about the impact of packaging materials on the environment
Consumers are increasingly concerned about the impact of packaging materials on the environment. As a result, companies are looking for contract packaging services that offer eco-friendly options. Governments and regulatory bodies are encouraging sustainable packaging practices through different initiatives and regulations. Market players are investing in eco-friendly packaging technologies and materials to meet the increasing demand.
Global Contract Packaging Market: Market Segmentation
By type, the market is categorized into primary, secondary, and tertiary. On the basis of packaging, in 2022, primary held the largest revenue share of 503% in the global contract packaging market. One of the reasons for this is the growing need for specialized packaging & labeling that meets strict regulatory requirements. Another reason is that outsourcing non-core activities enables pharmaceutical companies to concentrate on R&D, which, in turn, increases the need for efficient & safe packaging solutions for pharma products.
Figure 1: Global Contract Packaging Market Value Share (%), By Packaging, 2022
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Global Contract Packaging Market: Regional Analysis
Among regions, North America held the dominant position in the global contract packaging market in 2022, accounting for 35% shares in terms of volume, followed by Europe and Asia Pacific, respectively.
Regional governments are supporting marginal, small, and medium-sized industries, which is leading to rapid industrialization and urbanization.
Figure 2: Global Contract Packaging Market Value Share (%), By Packaging, 2022
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Global Contract Packaging Market: Key Developments
Global Contract Packaging Market: Key Companies
Aaron Thomas Company, Multipack Solutions, Pharma Tech Industries, Reed-Lane Inc., Sharp Packaging Services, UNICEP Packaging, Green Packaging Asia, Jones Packaging Inc., Stamar Packaging, Budelpack Poortvliet BV, and Complete Co-Packing Services Ltd
*Definition: The contract packaging market is a market where packaging activities are outsourced to third-party packaging companies. These companies are called contract packagers and offer packaging services like labeling, assembly, packaging design, and others. The contract packaging market is fueled by the need for packaging companies to simplify their packaging processes, lower costs, and increase overall productivity. Contract packaging enables companies to focus on core competencies while providing quality packaging solutions.
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About Author
Kalpesh Gharte is a senior consultant with approximately 5 years of experience in the consulting industry. Kalpesh holds an MBA in Operations and Marketing Management, providing him with a strong foundation in market strategy and analysis. He has contributed to various consulting and syndicated reports, delivering valuable insights that support informed business decisions
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