Contract Packaging and Fulfillment Service Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global contract packaging and fulfillment services market was valued at USD 67.19 billion in 2020 and it is expected to reach USD 119.74 billion by 2026, registering a CAGR of 10.30%, during the period between 2021-2026. The increased demand from food and beverage and pharmaceutical industries was further fuelled by the COVID-19 pandemic. Furthermore, growth of the e-commerce industry globally are among some of the major factors driving growth of the market studied over the forecast period.
Key HighlightsThe Contract Packaging and Fulfillment Service Market is highly competitive owing to the presence of multiple players in the market operating their business in domestic and international markets. The market appears to be moderately concentrated with the major players adopting strategies like expansion among others in order to stay competitive and expand their reach. Some of the major players in the market are Aaron Thomas Company, ActionPak Inc., Assemblies Unlimited among others.
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