The export value of trade in goods was estimated to be nearly USD 22,000 billion in 2021 which was an increase from USD 18,000 billion in 2018.
The recent market research analysis of “Contract Packaging Market: Global Demand Analysis & Opportunity Outlook 2033” by Research Nester delivers an in-depth competitors analysis and a detailed overview of the global contract packaging market in terms of market segmentation by packaging type, material, application, and by region over the forecast period, i.e., 2023-2033.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the global contract packaging market. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market are poised to gain significant momentum in the next few years.
Contract packaging market to find numerous growth opportunities on the back of escalated production of graphic paper, finds Research Nester
The global contract packaging market is estimated to grow majorly on account of the rising utilization of contract packaging pharmaceuticals and higher demand for paper & paperboard. For instance, in 2021, the global pharmaceutical industry was anticipated to reach nearly USD 1.5 trillion. Additionally, increasing sales of household product and a higher prevalence of online purchase is further expected to fuel the growth of the market over the forecast period. The annual rate of average spending by a consumer on household supplies was estimated to be around 750 U.S. dollars.
The global contract packaging market is segmented on the basis of application into food & beverages, home products, pharmaceuticals, fabrics, cosmetics, skin & hair care, and others. The food & beverages segment is to garner the highest revenue by the end of 2033 by growing at a significant CAGR over the forecast period.
The growth of the segment can be ascribed to the rising export and import of food across the globe. As of 2022, the food segment was estimated to reach around USD 15 billion worldwide.
By region, the North America contract packaging market is to generate the highest revenue by the end of 2033. This growth is anticipated by the growing inclination of people toward cosmetics in the region and the higher demand for men’s grooming products. For instance, in 2022, the cosmetic segment in the United States was estimated to generate total revenue of about USD 18 billion, meanwhile, the per-person revenue of the cosmetic segment was estimated to be around 50 U.S. dollars.
The research is global in nature and covers detailed analysis on the contract packaging market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
In addition, analysis comprising of global contract packaging market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
This report also provides the existing competitive scenario of some of the key players of the global contract packaging market which includes company profiling of Industrial Quick Search, Inc., Unicep Packaging, LLC, Sonic Packaging Industries, Genco Organics pvt. Ltd, Kelly Products Incorporated, Sharp Packaging Services, LLC, Sterling Contract Packaging, Inc., Jones Packaging Group, Wepackit, INC, Assemblies Unlimited, Inc., and others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global contract packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.