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Contract Packaging Market By Services Type (Primary Packaging, Secondary Packaging, Tertiary Packaging); By Verticals Type (Food, Beverages, Pharmaceuticals, Home Products and Fabrics, Cosmetics and Beauty Care) – Global Industry Demand Analysis & Opportunity Assessment 2017-2027

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Extensive insights into the Growth of Contract Packaging Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Contract Packaging Market Product Overview

Contract packaging denotes the services related with packaging for customers, by outsourced associates for various packaging solutions that they offer. Contract Packaging companies are basically “third party vendors” that has specialty in packaging activities. In modern times the manufacturing companies have initiated to outsource the packaging related activities and other services to third party vendors. Companies usually choose this option for outsourcing since they might lack essential skills, proficiency, manpower or the basic infrastructure that is needed for such activities. The major advantage of outsourcing can be that the company can focus more on its manufacturing activities without having the unnecessary overhead of packaging associated activities. This can help a company to be more efficient and effective while functioning. It can improve the production capacity of the manufacturing units.

Market size and Forecast

The contract packaging market was worth USD 27.36 Billion in 2017 and is anticipated to reach USD 49.64 Billion by 2027, at a significant CAGR around 11.7% during the year 2018-2027. The growth in contract packaging market can be attributed mainly to the factors such as technological advancement and cost optimization. The cost optimization by some of the major manufacturing units is also a factor for the expansion of the contract packaging market. In August 2017, a contract packaging company named ‘Surepharm Services’ installed the Blister Express Center to improve its manufacturing capacity. It offers easy, quick, and reliable solutions to accomplish the packaging needs with minimum of 10 medicines in different pack sizes, besides improving the flexibility to meet the wide range of contracts. This machine is equipped with three-dimensional (3D) format changeover in less than 30 minutes.

The market can be segmented on the basis of services type and by end-user. Services segments consist of primary, secondary and tertiary packaging. The majority demand of consumers consists of secondary packaging as it is not only used for packaging materials but also used for marketing and branding of the product. By End-user it is segmented into food and beverages, pharmaceuticals, home products and fabrics and cosmetics and beauty care. Food and Beverages market currently dominates the market on the account of supply of food item across various regions.

By region, market is segmented into North America, Europe, Latin America, Asia-Pacific and Middle East. North America currently dominates contract packaging market. The main reason for domination is huge demand from food and beverage industry which is followed by consumer goods. Consumer goods are distributed on the platforms such as E-commerce and online retailing. Increase in the disposable income in U.S. will also escalate the market size of global contract packaging.

Asian countries such as China and India will also witness sharp rise in the demand for the contract packaging on the account of larger global exports by the developing countries such as China and India.CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

Our in-depth analysis segmented the contract packaging market in the following segments:

By Services type

  • Primary packaging
  • Secondary Packaging
  • Tertiary Packaging

By End-User type

  • Food and Beverages
  • Pharmaceuticals
  • Home products and fabrics
  • Cosmetics and beauty care

By Region

Global contract packaging market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Driver and Challenges

The one of the major growth drivers for the contract packaging market is technological executions. Increasing technological advancement in the global contract packaging market increases the market size. The factors include fast paced solutions provided by companies. The latest trend gaining momentum in the market is growing e-commerce industry. The increasing internet penetration and increasing trend of online shopping will boost the global contract packaging market during the forecast period. This is because companies that are selling their products through the e-commerce platform lack in packaging facility at respective companies. Therefore, third party packaging or contract packaging services becomes an easy mode of selling online products.

The cost of raw materials is also a factor determining the market size of the contract packaging market. Besides this, the fluctuation in prices of raw materials is one the major challenge faced by sellers. The wide gap between demand and supply chain has considerable impact on the contract packaging market.

Key Players

  • Unicep Packaging
  • Summit Container
  • Genco
  • Stamar Packaging
  • Sharp Packaging
  • Jones Packaging
  • Aaron Thomas Company Inc.
  • DHL
  • Green Packaging Asia
  • Co-Pak Packaging
  • Assemblies Unlimited Inc.
  • Deufol
  • AmeriPac Inc.
  • Nulogy Corporation
  • Wepackit Inc.
  • Sterling Contract Packaging Inc.
  • Kelly Products Inc.
  • Sonic Packaging Industries
  • CWS Contract Packaging Services

 


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