Contract Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Contract Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Contract Packaging Market

The contract packaging market size was valued at USD 83.47 billion in 2022, and the market is now projected to grow from USD 88.10 billion in 2023 to USD 135.88 billion by 2030, exhibiting a CAGR of 6.39% during the forecast period of 2023-2030.

The disrupted supply chains affected availability of raw materials and components. The restriction in traveling and imposition of lockdown had hampered the market expansion. The pandemic has changed consumer behavior. The increased online shopping and rising preference for online channels amplified the requirement for the service. The packaging needs of various products. Thus, the COVID-19 drastically influenced the market growth.

The contract packaging market share globally has increased because of the rising outsourcing services. Many companies are recognizing the strategic advantages of contracting. The desire for cost efficiency, access to specialized expertise, and the ability to focus on core capabilities are boosting the market growth. Outsourcing functions allow organizations to gain from the particular knowledge and capabilities of co-packing service suppliers.

The trend is digitization and automation of co-packing is enhancing the market expansion. Automation decreases the requirement of manual labor and it improves speed and precision. They reform the market position as end-users desire to augment their efficiency, reduce costs, and improve overall productivity. These solutions are becoming progressively more prevalent across various steps of the wrapping process.

Comprehensive Analysis of Contract Packaging Market

The contract packaging market and packaging industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the packaging industry. These segmentations are methodically segregated by types of material type, packaging type, and end-use industry. The material types are plastic, glass, paper & paperboard, and others. The packaging type involves primary, secondary, and tertiary packaging. The end-use industries are food & beverages, personal care & cosmetics, electronics, pharmaceuticals, e-commerce, and others.

The Asia Pacific region is conducive to the global contract packaging market, leading to a recall of USD 27.85 billion because of the regional market presenting unique avenues to providers of packaging service, the increasing manufacturing activities, and rising urbanization.

The top players in the market play a critical role in the packaging industry assuring industrial prospectus growth and setting market standards. These players are Silgan Unicep (U.S.), Sharp Services,LLC (U.S.), Summit Packaging Solutions (U.S.), Stamar Packaging (U.S.), Aaron Thomas Company Inc. (U.S.), Green Sustainable Packaging (U.S.), Asiapack Ltd. (China), Co-Pak Packaging Corporation (U.S.), Assemblies Unlimited Inc. (U.S.), AmeriPac Inc. (U.S.), Wepackit Inc. (U.S.), Sterling Contract Packaging Inc. (U.S.), Pharma Packaging Solutions (U.S.), The Shippers Group (U.S.), and Sonic Packaging Industries (U.S.), these market players provide a level-playing competitive landscape.

In October 2023, Sharp announced the acquisition of Berkshire Sterile Manufacturing (BSM). The aim of acquisition is to facilitate the company to present a fully integrated small-to-medium scale sterile injectable offering for the biopharmaceutical business.

Segmentation Table

Global Contract Packaging Market Scope

ATTRIBUTE DETAILS

Study Period 2017-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2017-2021

Growth Rate CAGR of 6.39% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Material Type

Plastic

Glass

Paper & Paperboard

Others

By Packaging Type

Primary Packaging

Secondary Packaging

Tertiary Packaging

By End-use Industry

Food & Beverages

Personal Care & Cosmetics

Pharmaceuticals

Electronics

E-commerce

Others

By Region

North America (By Material Type, By Packaging Type, End-use Industry and Country)

U.S. (By Material Type)

Canada (By Material Type)

Europe (By Material Type, By Packaging Type, End-use Industry and Country)

Germany (By Material Type)

U.K. (By Material Type)

France (By Material Type)

Spain (By Material Type)

Italy (By Material Type)

Russia (By Material Type)

Poland (By Material Type)

Romania (By Material Type)

Rest of Europe (By Material Type)

Asia Pacific (By Material Type, By Packaging Type, End-use Industry and Country)

China (By Material Type)

India (By Material Type)

Japan(By Material Type)

Australia (By Material Type)

Southeast Asia (By Material Type)

Rest of Asia Pacific (By Material Type)

Latin America (By Material Type, By Packaging Type, End-use Industry and Country)

Brazil (By Material Type)

Mexico (By Material Type)

Argentina (By Material Type)

Rest of Latin America (By Material Type)

Middle East & Africa (By Material Type, By Packaging Type, End-use Industry and Country)

Saudi Arabia (By Material Type)

UAE (By Material Type)

Oman (By Material Type)

South Africa (By Material Type)

Rest of the Middle East & Africa (By Material Type)


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