Reports - Contract Packaging Market
Contract Packaging Market Size, Share & Trends Analysis Report by Packaging Type (Primary, Secondary, Tertiary), by Material (Plastic, Metal, Glass, Paper & Paperboard), by End User Industry (Food & Beverage, Pharmaceutical, Electronics, Personal Care), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
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2024
2035
7.10%
Asia Pacific
Asia Pacific
2024
2023 - 2027
2027 - 2035
The final deliverable will encompass both quantitative and qualitative data, providing a comprehensive analysis of the market. The scope is customizable.
Market Synopsis:
The Global Contract Packaging Market was valued at USD 42.1 Billion in 2021 and is forecast to reach a value of USD 61.4 Billion by 2028. Over the projection period, the Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 7.10%.
Contract Packaging is putting together a good or product into its final package. The final packaging can take many forms depending on the product, including plastic containers, standing corrugated retail point-of-sale displays, thermoformed/plastic clamshell or blister packing, and transport trays. Contract packagers are frequently tasked with tasks as simple as applying a bar code sticker to a product or as complex as creating, assembling, and fulfilling the entire package. The Global Contract Packaging Market is expected to see potential growth owing to the factors mentioned below:
In addition, several other factors, like advancements in medical sciences and alterations to medications already on the market for various illnesses and deficiencies, are further expected to bolster the Contract Packaging Market growth. Furthermore, there is a trend shown by several manufacturers to choose the Contract Packaging over the in-house packaging activities. This factor is forecast to contribute by creating enormous opportunities thereby fuelling the Contract Packaging growth in the projected timeframe.
On the other hand, the restrictions for expansion of the Contract Packaging Market in the anticipated timeframe are likely to come from rising levels of competition from in-house packaging and strict government requirements.
Market Segmentation:
The Contract Packaging Market is segmented on Packaging Type, Material, End User Industry, and Region. Based on the segment of Packaging Type, the market is further segmented into Primary, Secondary, and Tertiary. Furthermore, based on the Material, the market can be further bifurcated into Plastic, Metal, Glass, and Paper & Paperboard. In addition, based on the End User Industry, the market is further divided into Food & Beverage, Pharmaceutical, Electronics, Personal Care, and Other End Users.
Based on Packaging Type:
The Secondary category dominated the market in 2021
The Contract Packaging Market was dominated by the Secondary Packaging sector due to increased consumer demand worldwide and is expected to continue in the projected timelines. Therefore, the expansion of the worldwide Contract Packaging Market is anticipated to be fueled by Secondary packaging, which is advantageous for packaging materials, branding, and marketing of the product. On the other hand, during the forecast period, the Primary packaging sector is anticipated to generate a considerably high rate in the worldwide Contract Packaging Market.
Based on End User Industry:
Food & Beverage dominated the market in 2021
The Contract Packaging Market was dominated by Food & Beverage sector in 2021 and is expected to continue this dominance in the forecast period. The rapid rise of this segment is attributed to increasing disposable income, declining family size, growing working class population, desire for novel and energizing comfort foods, and benefits such as areas of strength for protection against germs and peelable features. Therefore, deals and marketing should be an organizations primary focus after assembling and pressing. The Food & Beverage and individual consideration sectors are end-client enterprises that hire these outside vendors' services.
Based on Regional Analysis:
Asia Pacific is projected to grow at a significant rate during the forecast period
The Asia Pacific is accounted to grow significantly during the forecast period. Growing middle-class disposable income, increased industrialization, and rising consumer living standards will drive the Contract Packaging Markets growth throughout the projected year. Furthermore, due to increased Contract Packaging demand and rising exporting capabilities in these nations, India and China are expected to lead the Contract Packaging Market growth throughout the forecast period.
Recent Developments:
Competitive Landscape:
The key players in the Global Contract Packaging Market include- Aaron Thomas Company Inc. and others.
Segmentation of the Global Contract Packaging Market:
Source: www.vantagemarketresearch.com
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Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis | |
Pricing and purchase options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
Base Year
2024
Historic Year
2018 - 2022
Forecast Year
2023 - 2032
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