Contract Packaging Market Size & Share, by Packaging Type (Primary, Secondary, Tertiary); Material (Glass, Paper & Paperboard, Plastic, Metal); Application (Food & Beverages, Home Products, Pharmaceuticals, Fabrics, Cosmetics, Skin & Hair Care) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 809
  • Published Date: Feb 09, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Contract Packaging Market size is anticipated to surpass USD 100 Billion by the end of 2033, growing at a CAGR of 8% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of contract packaging was over USD 50 Billion. The growth of the market can primarily be attributed to the spiking export value across the globe, increasing the e-commerce industry, and the growing population. As of 2021, the trade in goods touched off an export value of approximately USD 22,000 billion, up from USD 18,000 billion in 2018.

Global trends such as rising production of graphic paper, and higher demand for make-up, and other beauty products are projected to influence the growth of the market positively over the forecast period. The total production of graphic paper was estimated to be around 96,000 metric tons in 2020. Additionally, increasing export and import of paper and paperboard is further estimated to push the growth of the market during the forecast period. The export volume of paper and paperboard was noticed to be around 14 million metric tons solely from Germany in 2022. Hence, all these factors are anticipated to boost the growth of the contract packaging market over the forecast period.


Contract-Packaging-Market
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Contract Packaging Sector: Growth Drivers and Challenges

Growth Drivers

  • Higher Utilization of Contract Packaging in the Pharmaceutical Industry- The pharmaceutical industry across the globe was projected to generate total revenue of USD 1.5 trillion in 2021.
  • There are multiple sorts of compounds and chemicals used in making medicines or developing drugs. Many of them can decay if they are left open without proper packaging. Medicine is supplied globally and it must contain the optimum pharmaceutical effects. Hence, many contract packaging firms are currently working to offer the labeling and packaging of drugs.
  • Growing Demand for Paper & Paperboard Owing to Rising Use- As of 2020, the total production of paper and paperboard was projected to be about 250,000 metric tons which was an increase from nearly 200,000 metric tons in 2018.
  • Rising Sales of Household Products with the Increasing Exports- For instance, it was observed that an average consumer spends approximately 750 U.S. dollars on household supplies annually.
  • Increasing Inclination of the Global Population Toward Skin & Hair Care- In 2022, the skin care segment was valued at approximately USD 150 billion.
  • Skyrocketing Online Purchases to Boost the Market Growth- It was noticed that more than 28% people of the global population purchased goods online in 2020.

Challenges

  • Lack of Required Workforce and Awareness
  • Need for Higher Initial Investment
  • Disrupted Supply-Chain due to COVID-19
  • The shortage of supply and disruption of production, the reduced workforce also have a negative impact on the market. A growing number of restrictions and social distancing regulations are estimated to hamper the market growth.

Contract Packaging Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

8%

Base Year Market Size (2022)

USD 50 Billion

Forecast Year Market Size (2033)

 USD 100 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Contract Packaging Segmentation

Application (Food & Beverages, Home Products, Pharmaceuticals, Fabrics, Cosmetics, Skin & Hair Care)

The global contract packaging market is segmented and analyzed for demand and supply by application into food & beverages, home products, pharmaceuticals, fabrics, cosmetics, skin & hair care, and others, out of which, the food & beverages segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted for by the rising number of people suffering from hunger, increasing packaging regulations in food and beverages, growing packaging industries, and increasing consumer goods are boosting the demand for food. For instance, the food segment in 2022 was estimated to reach approximately USD 15 billion worldwide.

Our in-depth analysis of the global contract packaging market includes the following segments:

         By Packaging Type

  • Primary
  • Secondary
  • Tertiary

         By Material

  • Glass
  • Paper & Paperboard
  • Plastic
  • Metal
  • Others

        By Application

  • Food & Beverages
  • Home Products
  • Pharmaceuticals
  • Fabrics
  • Cosmetics
  • Skin & Hair Care
  • Others

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Contract Packaging Industry - Regional Synopsis

North America Market Forecast

The North America region contract packaging market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be ascribed to the rising demand for beauty products, the increasing number of heterosexual men using make-up, increasing acquisitions and geographical expansions, and others. It was observed that the cosmetics segment in the United States reached around USD 18 billion in 2022 while the revenue generated per person was estimated to be about 50 U.S. dollars. Therefore, such factors are estimated to propel the growth of the market during the forecast period.

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Companies Dominating the Contract Packaging Landscape

top-features-companies
    • Industrial Quick Search, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Unicep Packaging, LLC
    • Sonic Packaging Industries
    • Genco Organics Pvt. Ltd
    • Kelly Products Incorporated
    • Sharp Packaging Services, LLC
    • Sterling Contract Packaging, Inc.
    • Jones Packaging Group
    • Wepackit, INC
    • Assemblies Unlimited, Inc.

In-the-news

In The News

  • Jones Packaging Group to collaborate with California Pharmacists Association and becomes the first Canadian corporate partner. California Pharmacists Association is focused on promoting health and represents thousands of pharmacies.

  • Sonic Packaging Industries to make an announcement regarding its launch of a new system of Enterprise Resource Planning (ERP) system, NetSuite. This system is capable of supporting long-term growth strategy and increasing the work efficiency of the company.

Author Credits:  Sadaf Naaz, Mohd Shadab


  • Report ID: 809
  • Published Date: Feb 09, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Higher utilization of contract packaging in the pharmaceutical industry is estimated to majorly boost the market growth.

The market is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023-2033.

Lack of required workforce and awareness and need for higher initial investment is estimated to challenge the market growth.

The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Unicep Packaging, LLC, Sonic Packaging Industries, Genco Organics pvt. Ltd, Kelly Products Incorporated, Sharp Packaging Services, LLC., Sterling Contract Packaging, Inc., Jones Packaging Group, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

The market is segmented by packaging type, material, application, and by region.

The food & beverages segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Contract Packaging Market Report Scope
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