Menu ×

PACKAGING

Contract Packaging Market Analysis by Packaging Type (Primary, Secondary, and Tertiary); by Material (Glass, Paper & Paperboard, Plastic, Metal, and Others); and by Application (Food & Beverages, Home Products, Pharmaceuticals, Fabrics, Cosmetics, Skin & Hair Care, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

  • Report ID: 809
  • Text Size:

Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

Request Insights

Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

Read More

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.

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

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)

 

The global contract packaging market is estimated to garner a revenue of ~USD 100 Billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 50 Billion in the year 2022. 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.

Contract-Packaging-Market-Scope Get more information on this report:Download Sample PDF

Global contract packaging market 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 market over the forecast period.

Global Contract Packaging Market: Growth Drivers and Challenges

Growth Drivers

  • Higher Utilization of Contract Packaging in the Pharmaceutical IndustryThe 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 UseAs 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 ExportsFor 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 CareIn 2022, the skin care segment was valued at approximately USD 150 billion.

  • Skyrocketing Online Purchases to Boost the Market GrowthIt 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.

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.

Global Contract Packaging Market Regional Synopsis

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.

Market Segmentation

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

Top Featured Companies Dominating the Global Contract Packaging Market

  • 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.

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions | LOB

Copyright © 2022 Research Nester. All Rights Reserved