The global contract packaging market size was valued at $52,091.8 million in 2021, and is projected to reach $1,02,760.2 million by 2031, registering a CAGR of 6.9% from 2022 to 2031. Contract packaging is a packaging service offered by a third party to manufacturers. Thus, manufacturers delegate partial or complete packaging responsibilities to the contract packaging firms.
Contract packaging firms specialize in providing packaging services such as consulting, providing packaging materials, and complete turnkey packaging services. Small and medium scale businesses are more inclined toward services offered by the contract packaging firms, as these help them to efficiently utilize their resources.
Pharmaceutical industry is witnessing a rise, owing to an increase in geriatric population, and increase in health care awareness. In addition, pharmaceutical industry being a major user of contract packaging is anticipated to significantly increase the demand in the contract packaging market. Moreover, food and beverage industry is also witnessing a rise owing to increased disposable income, and free home delivery business model. Thus, rise in food and beverage industry, which is one of the end-users of contract packaging, is anticipated to drive the demand in the contract packaging market. Furthermore, electronics industry is witnessing a rise owing to developments in the e-commerce industry. This is also anticipated to drive the demand in contract packaging, especially in tertiary packaging. However, negative impact of packaging on environment is a major restraint for the growth of the market. Furthermore, development of eco-friendly packaging materials is anticipated to provide lucrative opportunities for the growth of the market.
The global contract packaging market is segmented on the basis of type, material, end user, and region. By type, the market is categorized into primary, secondary, and tertiary. On the basis of material, it is categorized into plastic, glass, metal, and paper & paperboard. And on the basis of end user, the market is categorized into food & beverage, pharmaceutical, electronics, personal care, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as business expansion, and others to strengthen their market outreach and sustain the stiff competition in the market.
Contract packaging firms specialize in providing packaging services such as consulting, providing packaging materials, and complete turnkey packaging services. Small and medium scale businesses are more inclined toward services offered by the contract packaging firms, as these help them to efficiently utilize their resources.
Pharmaceutical industry is witnessing a rise, owing to an increase in geriatric population, and increase in health care awareness. In addition, pharmaceutical industry being a major user of contract packaging is anticipated to significantly increase the demand in the contract packaging market. Moreover, food and beverage industry is also witnessing a rise owing to increased disposable income, and free home delivery business model. Thus, rise in food and beverage industry, which is one of the end-users of contract packaging, is anticipated to drive the demand in the contract packaging market. Furthermore, electronics industry is witnessing a rise owing to developments in the e-commerce industry. This is also anticipated to drive the demand in contract packaging, especially in tertiary packaging. However, negative impact of packaging on environment is a major restraint for the growth of the market. Furthermore, development of eco-friendly packaging materials is anticipated to provide lucrative opportunities for the growth of the market.
The global contract packaging market is segmented on the basis of type, material, end user, and region. By type, the market is categorized into primary, secondary, and tertiary. On the basis of material, it is categorized into plastic, glass, metal, and paper & paperboard. And on the basis of end user, the market is categorized into food & beverage, pharmaceutical, electronics, personal care, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as business expansion, and others to strengthen their market outreach and sustain the stiff competition in the market.
COMPETITION ANALYSIS
Key companies profiled in the contract packaging market report include Aaron Thomas Company Inc., AmeriPac Inc., Aaron Thomas Company Inc., Assemblies Unlimited Inc., Assured Edge Solutions, Co-Pak Packaging, Deufol, DHL, Hollingsworth, Green Packaging Asia, Jones Packaging, Kelly Products Inc., Sharp Packaging, Sonic Packaging Industries, Stamar Packaging, Sterling Contract Packaging Inc., Sligan Holdings Inc. (Unicep Packaging), and Wepackit Inc.KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the contract packaging market analysis from 2021 to 2031 to identify the prevailing contract packaging market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the contract packaging market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global contract packaging market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Packaging Type
- Primary
- Secondary
- Tertiary
By Material
- Plastic
- Metal
- Glass
- Paper and paperboard
By End-User Industry
- Food and Beverage
- Pharmaceutical
- Electronics
- Personal Care
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- U.K.
- Rest of Europe
- Asia-Pacific
- Rest Of Asia Pacific
- China
- Japan
- India
- South Korea
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Aaron Thomas Company Inc.
- AmeriPac Inc.
- Assemblies Unlimited Inc.
- Assured Edge Solutions
- co-pak packaging corp.
- Deufol
- DHL
- Green Packaging Asia
- Hollingsworth
- Jones Packaging
- Kelly Products Inc.
- Sharp Packaging
- Sonic Packaging Industries
- Stamar Packaging
- Sterling Contract Packaging Inc.
- Silgan Holdings Inc.
- Wepackit Inc.
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CONTRACT PACKAGING MARKET, BY PACKAGING TYPE
CHAPTER 5: CONTRACT PACKAGING MARKET, BY MATERIAL
CHAPTER 6: CONTRACT PACKAGING MARKET, BY END-USER INDUSTRY
CHAPTER 7: CONTRACT PACKAGING MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Contract Packaging Market," the contract packaging market size was valued at $52.1 billion in 2021, and is estimated to reach $102.8 billion by 2031, growing at a CAGR of 6.9% from 2022 to 2031.Commonly observed types of packaging offered by contract packaging firms are primary, secondary, and tertiary. Among these, the primary segment accounted for the largest contract packaging market share share in 2021, owing to surge in global trade. The market is analyzed with respect to different materials used for manufacturing packaging such as, plastic, glass, metal, and paper & paperboard. The market is mainly driven by rise in e-commerce and manufacturing sector. However, negative impacts of packaging materials constraints the contract packaging market growth.
In 2021, Asia-Pacific dominated the global contract packaging market, in terms of revenue, followed by North America and Europe. Moreover, the market in Asia-Pacific has grown with a high CAGR, owing to growth in use of contract packaging for pharmaceutical and consumer goods industry.
The advancements in packaging materials that have enabled the packaging to be more eco-friendly have increased their usability in many sectors, especially in food processing sector. Moreover, advancements in IT sector have also opened new opportunities for the contract packers and manufacturers to schedule their work more efficiently.
Furthermore, on the basis of end users, the food & beverage is anticipated to grow rapidly, during the forecast period, owing to introduction of eco-friendly packaging and rise in sales via e-commerce.
Furthermore, co-packers have adopted various strategies to enhance their position in the market and sustain the harsh competition. For instance, in January 2022, Sharp Services, LLC., a global provider of contract packaging and clinical supply services, opened a production facility in Heerenveen, The Netherlands. This new facility is established in order to facilitate packaging, storage and distribution of gene therapies.
However, during the pandemic lockdown, various service providers of contract packaging had to stop their business in countries such as China, the U.S., and India. This break directly impacted their sales. In addition, lack of manpower and raw materials, constricted supply of raw materials for packaging; and negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
The key players profiled in the contract packaging market forecast report include Aaron Thomas Company Inc., AmeriPac Inc., Assemblies Unlimited Inc., Co-Pak Packaging, Assured Edge Solutions, Deufol, DHL, Hollingsworth, Green Packaging Asia, Jones Packaging, Kelly Products Inc., Sharp Packaging, Sonic Packaging Industries, Stamar Packaging, Sterling Contract Packaging Inc., Silgan Holdings Inc., and Wepackit Inc.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging contract packaging market trends and dynamics.
- Depending on type, the primary segment dominated the contract packaging market, in terms of revenue in 2021.
- By material, paper and paperboard segment is anticipated to witness a surge during the forecast period.
- By end user, food and beverage registered highest revenue in 2021.
- North America is projected to register highest growth rate in the coming years.
- The key players within the contract packaging market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the contract packaging industry.
- The report provides an extensive analysis of the current trends and emerging contract packaging market opportunities.
- In-depth contract packaging market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
Companies Mentioned
- Aaron Thomas Company Inc.
- Ameripac Inc.
- Assemblies Unlimited Inc.
- Assured Edge Solutions
- Co-Pak Packaging Corp.
- Deufol
- Dhl
- Green Packaging Asia
- Hollingsworth
- Jones Packaging
- Kelly Products Inc.
- Sharp Packaging
- Sonic Packaging Industries
- Stamar Packaging
- Sterling Contract Packaging Inc.
- Silgan Holdings Inc.
- Wepackit Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 220 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 52091.8 million |
| Forecasted Market Value ( USD | $ 102760.2 million |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
