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
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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.
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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.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 50 Billion |
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Forecast Year Market Size (2033) |
~ USD 100 Billion |
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Regional Scope |
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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.
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.
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.
Our in-depth analysis of the global contract packaging market includes the following segments:
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By Packaging Type |
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By Material |
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By Application |
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Industrial Quick Search, Inc.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Higher utilization of contract packaging in the pharmaceutical industry is estimated to majorly boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2033.
Ans: Lack of required workforce and awareness and need for higher initial investment is estimated to challenge the market growth.
Ans: 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.
Ans: 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.
Ans: 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.
Ans: The market is segmented by packaging type, material, application, and by region.
Ans: The food & beverages segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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