Contract Packaging Market

Market Overview:

The global contract packaging market size reached US$ 63.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 103.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.05% during 2023-2028.

Contract packaging, also known as co-packaging, assists businesses in hiring other companies to manage their packaging and supply chain requirements. It involves the primary and secondary packaging of finished goods, point-of-purchase (POP) display builds, inventory management, and distribution of the goods to the market or directly to the consumer. It offers resources required for printing services, labor force, and research and development (R&D) activities. As a result, contract packaging is utilized in bulk manufacturing and cargo shipping. Besides this, it also finds extensive applications in the pharmaceutical, retail, and personal care industries across the globe.

Contract Packaging Market Trends:

The thriving packaging sector represents one of the key factors propelling the growth of the market. Moreover, contract packaging offers faster turnaround, warehouse and logistics support, increased scalability, and improved productivity. Numerous contract packaging companies have an in-house design team to help come up with the final product packaging, which allows for troubleshooting with prototypes to ensure products best fit the packaging. These companies also provide services, such as sterilization, labelling, shrink-wrapping, plastic/thermoform packaging production, and package assembly. In addition, contract packaging companies work with product managers and manufacturers to consult, plan, customize, and execute the process according to the timeline. Apart from this, contract packaging is increasingly being employed in the food and beverage (F&B) industry as it can aid in reducing costs and improving product visibility. This, coupled with the escalating demand for ready-to-eat (RTE) food products on account of hectic lifestyles and busy schedules of individuals, is creating a positive outlook for the market. Furthermore, the introduction of environment-friendly packaging options is projected to strengthen the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global contract packaging market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on packaging type, material, service and end use industry.

Breakup by Packaging Type:

• Primary
• Secondary
• Tertiary
   

Breakup by Material:

• Plastic
• Metal
• Glass
• Paper and Paperboard
   

Breakup by Service:

• Bottling
• Bagging/Pouching
• Lot/Batch and Date Coding
• Boxing and Cartoning
• Wrapping and Bund
• Labelling
• Clamshell and Blister
• Others
   

Breakup by End Use Industry:

• Food and Beverage
• Pharmaceutical
• Electronics
• Personal Care
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Aaron Thomas Company Inc., AmeriPac, Assemblies Unlimited Inc., Co-Pak Packaging Corporation, Hollingsworth, Kelly Products Incorporated, Marsden Packaging Ltd., Multi-Pack Solutions LLC, Reed-Lane. Inc., Sonic Packaging Industries Inc., Sterling Contract Packaging Inc. and Unicep Packaging LLC (Silgan Holdings Inc.).

Report Coverage: