Contract Packaging Market Size to Grow by $ 31.02 bn through 2021-2025
The contract packaging market is expected to grow by $ 31.02 bn, accelerating at a CAGR of almost 10% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View Free Sample Report
Contract Packaging Market: Segmentation by End-user
This report provides a detailed analysis of the market by End-user (Food & beverage, Consumer goods, Personal care, Pharmaceutical, and Others) and Geography (North America, APAC, Europe, MEA, and South America). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.
Contract Packaging Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. CCL Industries Inc., Co-Pak Packaging Corp., Deufol Group, FedEx Corp., Marsden Packaging Ltd., Multi-Pack Solutions LLC, Reed-Lane Inc., Sonoco Products Co., Stamar Packaging, and Unicep Packaging LLC are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
Technavio has been monitoring the Global Contract Packaging Market and it is expected to grow by $ 31.02 billion accelerating at a CAGR of nearly 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Contract Packaging Market: Rise in technological implementations to drive growth
One of the primary factors that will trigger the growth of the contract packaging market size is the rise in technological implementation. Key players in the market are focusing on introducing fast-paced solutions. For instance, the contract manufacturing organization Surepharm Services, installed the Blister Express Center 300 (BEC 300) to increase its productivity. Such advancements will fuel the growth of the contract packaging market.
The increasing focus of 3PL companies towards contract packaging will be one of the major trends that will gain traction during the next few years. Contract packaging offers various benefits such as the reduction in the overall cost of the packaging process that also includes the expenditure due to transportation and storage. 3PL vendors are focusing on providing contract packaging services along with other services such as warehouse management and transportation. All these factors are likely to drive the growth of the market in focus.
Contract Packaging Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. CCL Industries Inc., Co-Pak Packaging Corp., Deufol Group, FedEx Corp., Marsden Packaging Ltd., Multi-Pack Solutions LLC, Reed-Lane Inc., Sonoco Products Co., Stamar Packaging, and Unicep Packaging LLC are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
