Contract Packaging Market, By Packaging (Primary, Secondary, Tertiary), By End-User Industry (Food, Beverage, Pharmaceutical, Household and Personal Care, Other End-user Industries), By Geography (North America, Latin America, Europe, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
When it comes to packaging, contract packaging can be beneficial for many companies. Outsourcing to a third-party company can save a company money until production levels are reached, or until capital expenditures can be approved. Outsourcing can also help a company with their display. A contract packaging company is able to meet the packaging regulations and guidelines of industry. A contract packager understand the FDA and the regulations surrounding packaging, and they know how to properly use child-safe caps and other components.
Market Dynamics:
Growing demand from e-commerce industry and increasing adoption of advanced packaging solution by manufacturing industries are projected to propel contract packaging market. According to the Office for National Statistics (UK), over 70% of the UK population prefer online shopping. Additionally, most of the small vendors in the European region selling through e-commerce lacks in-house packaging and are bound to prefer contract packaging solutions. Moreover, the market is also driven by increasing focus of company on outsourcing their noncore operation to gain a competitive advantage.
On the other hand, competition from in-house packaging and strict regulation regarding packaging solution are major factors expected to restrict the market growth.
Key features of the study:
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