According to Stratistics MRC, the Global Contract Packaging market is accounted for $40.45 billion in 2017 and is expected to reach $121.56 billion by 2026 growing at a CAGR of 13.0%. The growth of this market is mainly driven by rising technological advancement, growth of various retail chains across the globe, the development of e-commerce businesses. However cost factor is hindering the market growth.
Based on end user, the food and beverages segment has a significant growth due to the rising urban population and the growing demand for processed food will give to the growth of this segment in the coming years. Moreover, the growing demand from the food and beverage sector that will drive the need for packaging will also subsequently increase the need for contract packaging.
By geography, North America holds the major share in United States owing to the growing demand for packaging in segments, like food & beverages, pharmaceuticals, beauty care, and others. The market companies in the United States have learned to adapt to challenging business conditions. The companies are also becoming aware of the intense global competition, cost pressures, and highly variable demand from OEMs. This environment is rapidly boosting the market in the United States.
Some of the key players in global Contract Packaging market include Multipack Solutions, Gardan Packaging, Green Packaging Asia, Pharma Tech Industries, CCL Industries, Aaron Thomas Company, Reed Lane, Sharp Packaging Services, UNICEP Packaging, Stamar Packaging, Genco (FedEx Supply Chain), Sonoco and Deufol.
End Users covered:
- Food & Beverage
- Personal Care
- Consumer Goods
- Other End Users
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements