Global Contract Packaging Market: Overview
The Global contract packaging Market is valued at around USD 42.7 Billion in 2022 and is expected to reach USD 51.3 Billion in 2022 by the year 2030 registering a CAGR of 5.5% over the forecast period. Contract packaging is when one company hires another company (the contract packager) to produce their packaging, assemble, kit, and/or warehouse and distribute their products.
Global Contract Packaging Market: Growth Factors
The growing online industry is driving the growth of the market during the forecast period. The factor played a major role in the growth of the market even during the previous forecast period. The increasing number of e-commerce players in the market are estimated to drive the growth of the market all over the globe during the forecast period. The increasing disposable income of the people leading to increasing purchase through the medium of online is also estimated to boost the growth of the market during the forecast period. The geographical shifting of the people owing to various concerns like employment and better lifestyle and so on is also leading to the growth of the market. People tend to carry their belongings in the form of parcels from one place to another and this is boosting the growth of the market. Also, the transferring of the items from one place to another in the B2B business model is also estimated to drive the growth of the market during the forecast period.
Global Contract Packaging Market: Market Trends
The market players in this industry are adapting paper made carton boxes to pack the materials and thus the growing number of cutting of the trees is leading to the loss in the forests and thus is leading to the decreasing wildlife and this factor is estimated hamper the growth of the market during the forecast period. Also, the growing number of prices of the paper is also the factor that is estimated to slowdown the growth of the market during the forecast period.
The geographical shifting of the people owing to various concerns like employment and better lifestyle and so on is also leading to the growth of the market. People tend to carry their belongings in the form of parcels from one place to another and this is boosting the growth of the market.
The growing pharmaceutical sector demands a huge supply and distribution channels to cater to the demand. The industry is estimated to boost the growth of the market during the forecast period.
Global Contract Packaging Market Segmentation
The global contract packaging market has been sub-classified into product type, application and end-use.
By Product Type
Bottles
Bags & Pouches
Sachets & Stickpacks
Boxes & Cartons
Blisters & Clamshells
Vials & Ampoules
Flow Wraps
Others
By Service Type
Bottling
Bagging/Pouching
Lot/Batch & Date Coding
Boxing & Cartoning
Wrapping & Bund
Labelling
Clamshell & Blister
Others
By End-use Industry Type
Food & Beverage
Pharmaceuticals
Cosmetics
Agriculture
Personal Care
Others
Global Contract Packaging Market Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Contract Packaging Market Key Market players
AmeriPac
Aaron Thomas Company, UniCep Packaging, Reed-Lane, Inc., Jones Packaging, Stamar Packaging Inc., Multi-Pack Solutions, LLC. and Pharma tech industries & Sonoco Products Company are the major players that are driving the growth of the market during the forecast period.
