Packaging and Labeling Services Global Market Report 2024

The packaging and labeling services market size has grown strongly in recent years. It will grow from $47.12 billion in 2023 to $50.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion witnessed in the historical period can be attributed to the demand for consumer goods, globalization and international trade, consumer preferences and branding, as well as the implementation of marketing and branding strategies, and the growth of e-commerce.

The packaging and labeling services market size is expected to see strong growth in the next few years. It will grow to $65.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be ascribed to sustainability initiatives, customization and personalization, emerging market trends, supply chain resilience, and evolving consumer preferences. Significant trends expected during the forecast period encompass digital printing, anti-counterfeiting measures, regulatory compliance, supply chain resilience, and brand storytelling through packaging.

The anticipated increase in the demand for food and beverages is poised to drive the growth of the packaging and labeling service market in the foreseeable future. Food and beverages encompass a wide range of consumables, including snacks, meals, and drinks. Post-COVID-19, consumers are leaning towards healthier lifestyles, leading to a heightened demand for packaged healthy food and beverage options. Packaging and labeling play a crucial role in providing shelf stability, preventing contamination, and ensuring the overall quality of food and beverage products. As of January 2023, personal food consumption expenditures in the United States increased from $1,310 billion in December 2022 to $1,315 billion, as reported by the Federal Reserve Economic Data. This rise in the demand for food and beverages is a significant driver behind the growth of the packaging and labeling service market.

The increasing demand in the pharmaceutical industry is expected to contribute significantly to the growth of packaging and labeling services. The pharmaceutical industry, dedicated to the development, production, and marketing of drugs and medications, relies on packaging and labeling services for various purposes, including protective barriers, preservation of chemical and physical integrity, dosage control, brand recognition, and extended shelf life. In 2022, the European Federation of Pharmaceutical Industries and Associations reported a total pharmaceutical production of $384,200 million (€340,000 million), indicating a 4.95% increase from the previous year. This surge in demand within the pharmaceutical sector is a driving force behind the growth of the packaging and labeling services market.

Major companies in the packaging and labeling services market are directing their efforts towards innovative services, such as carbon labeling services, to boost revenues. Carbon labeling services offer organizations impartial confirmation and assurance, enabling them to monitor and control emissions, develop emission reduction plans, and set future goals. For example, in January 2021, Amcor Limited, a Switzerland-based packaging company, introduced a carbon labeling service with the aim of educating consumers about the climate impact of products. Companies achieving at least a 20% reduction in a product's carbon footprint are granted these labels, helping brand owners communicate reduced carbon footprints through impartial carbon labeling from the Carbon Trust.

Major companies in the packaging and labeling services market are focusing on advanced products, such as cutting-edge label printing equipment, to drive revenues. State-of-the-art machinery enhances label printing services with features such as an extended color gamut, high-resolution printing, and rapid turnaround times for both short- and long-term projects. In October 2023, Ritter's Printing & Packaging, a US-based print and packaging company, introduced state-of-the-art label printing equipment, including the GM DC350Flex+ finisher and the Bobst LB702 Label Press. These advancements aim to improve quality, eliminate costly legacy processes, and provide clients with more options in color and finish variations.

In November 2022, Constantia Flexibles, an Austria-based flexible packaging manufacturer, acquired FFP Packaging Solutions Ltd, a UK-based company providing flexible packaging solutions. This acquisition is designed to enhance Constantia Flexibles' overall market position in the industry.

Major companies operating in the packaging and labeling services market report are 3M Company, Amcor plc, Bemis Company Inc., CCL Industries Inc., E.I. du Pont de Nemours and Company, Gerresheimer AG, Owens-Illinois Inc., Schott AG, Sonoco Products Company, WestRock Company, Case Mason Filling Inc., AmeriPac Inc., ELIS Packaging Solutions Inc., XPress 360, Action Pak Inc., AB Graphic International, Avery Dennison Corporation, Constantia Flexibles, Coveris Holdings S.A., DuPont de Nemours Inc., Berry Global Group Inc., Crown Holdings Inc., Graphic Packaging International LLC, International Paper Company, Mondi plc, Reynolds Group Holdings Limited, Sealed Air Corporation, Smurfit Kappa Group plc, Colbert Packaging, Elsons International.

North America was the largest region in the packaging and labeling services market in 2023. The regions covered in the packaging and labeling services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the packaging and labeling services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The key categories of packaging and labeling services are primary and secondary. Primary packaging encompasses blisters, pouches, and bottle packaging. Blisters are particularly employed in various industries such as consumer goods, electronics, and pharmaceuticals. The materials utilized for packaging span bioplastics, paper, and plastic, catering to diverse end users including healthcare, pharmaceuticals, personal care, food and beverages, transport and logistics, automotive and aerospace, as well as retail and e-commerce.

The packaging and labeling services market research report is one of a series of new reports that provides packaging and labeling services market statistics, including packaging and labeling services industry global market size, regional shares, competitors with a packaging and labeling services market share, detailed packaging and labeling services market segments, market trends and opportunities, and any further data you may need to thrive in the packaging and labeling services industry. This packaging and labeling services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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