“Contract Packaging Market Size: Global Industry Analysis, Market Share, Trends, Application Analysis, Growth and Forecast, 2022-2027” provides a deep and thorough evaluation of the global contract packaging market based on its segments including type, end use and region. The report tracks the latest industry trends and analyses their overall impact on the market. It also evaluates the market dynamics, which cover the key demand and price indicators, and studies the market on the basis of the SWOT and Porter’s Five Forces models.
Historical Year: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
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Contract packaging, also called co-packaging, aids businesses in hiring other companies to manage their packaging and supply chain requirements. It usually involves the primary and secondary packaging of finished goods, point-of-purchase (POP) display builds, inventory management, distribution of the products to the market or directly to the consumer, etc.
In addition to this, contract packaging offers resources needed for printing services, labor force, and R&D activities. Consequently, it is widely utilized in bulk manufacturing and cargo shipping. Furthermore, contract packaging finds extensive applications in numerous industries, such as food and beverage (F&B), pharmaceuticals, personal care, retail, etc., across the globe.
Note: Our analysts are continuously monitoring the influence of the COVID-19 pandemic on the market. This insightful information is included in the report to improve the efficiency, resilience and overall performance of businesses.
Global Contract Packaging Industry Trends and Drivers:
The escalating demand for ready-to-eat (RTE) food items, on account of hectic lifestyles and busy schedules of individuals, is primarily driving the contract packaging market.
Additionally, the leading manufacturers have an in-house design team to help come up with the final packaging, allow for troubleshooting with prototypes to ensure products fit, and provide services, such as sterilization, labeling, shrink-wrapping, plastic or thermoform packaging production, package assembly, etc., which is further catalyzing the market growth.
Besides this, the growing utilization of contract packaging that offers faster turnaround, warehouse and logistics support, increased scalability, improved productivity, etc., is acting as another significant growth-inducing factor.
Moreover, the development of various environment-friendly packaging options and the inflating popularity of co-packaging that assist in reducing costs and improving product visibility are also positively influencing the global market. Apart from this, continuous technological advancements in production processes are expected to fuel the contract packaging market in the coming years.
Global Contract Packaging Market Segmentation:
The market is segmented in on the basis of type, end use and region.
- End use
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The report also provides insights on the competitive landscape of the global contract packaging industry with the leading players profiled in the report.
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