Global Contract Packaging Market by packaging type (Primary packaging, Secondary Packaging, and Tertiary Packaging), by end user (Automotive, Food & Beverages, Healthcare, Personal Care & Cosmetics, and Others), and by region (North America, Europe, Asia Pacific, Middle East & Africa, and South America)” Global Contract Packaging Market was valued at US$ 27.22 Bn in 2019 and is expected to reach US$ 61.3 Bn by 2027, at a CAGR of 10.68% during a forecast period.
Increasing technological advancement & implementation and cost optimization are expected to boom the market growth during the forecast period in a positive way. The growing penetration of the internet and the increasing popularity of e-commerce websites will boom the global contract packaging market during the forecast period. The contract packaging market growth is influenced by the growing cosmetic & personal care industries. The development in progression and research in the pharmaceutical industry has brought about the presentation of new medications, with more prominent execution contrasted with their antecedents. Rising e-commerce trend in the market across the globe is growing the global contract packaging market in a positive way and at the same time fluctuation in prices of raw materials and a wide gap between demand & supply chain are estimated to hamper the global contract packaging market growth during the forecast period.
Secondary packaging segment is leading the contract packaging market.
Secondary packaging segment is estimated to hold the largest share in the global contract packaging market during the forecast period owing to rising demand for secondary packaging from the consumers across the globe. Secondary packaging is beneficial for packaging materials, branding, and marketing of the product is also projected to fuel the global contract packaging market growth in the forecast period. Primary packaging segment is expected to generate the highest CAGR in the global contract packaging market during the forecast period.
The food & beverages segment is leading the contract packaging market.
The food & beverages industry is anticipated to lead the global contract packaging market growth in the forecast period owing to increasing food & beverages industries and rising supply of food products across globally. Personal Care & Cosmetics segment is expected to generate the highest CAGR in the global contract packaging market during the forecast period due to the increased spending power of consumers and rising usage of cosmetic products across the globe.
North America is the leading regional market for contract packaging market.
North America is projected to dominate the global contract packaging market growth during the forecast period owing to increased demand from various end-use industries such as food & beverages and personal care and cosmetic industry. A developed economy is also projected to drive the contract packaging market growth during the forecast period. Asia Pacific is expected to generate the highest CAGR in the contract packaging market during the forecast period owing to increasing disposable income of the middle-class population, rising industrialization, and improving living standards of the consumers are expected to propel the contract packaging market growth during the forecast period in a positive way.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as are Smart Label Solutions, Shenzhen Jianhe Smartcard Technology Co., Ltd., Shenzhen Zdcard Tech Co., Ltd., Shenzhen Top tags Technology Co., Ltd., Chengdu Mind Golden Card System Co., Ltd., Zhejiang Laxcen Information Technology Inc., Limited, Alien Technology, Inc. , Muehlbauer Holding AG, Thin Film Electronics ASA, Zebra Technologies, Bemis Company Inc., Winpak Limited, Point Five Packaging Llc, Dansensor AS, Praxair, Inc., Berry Global Inc., Ball Corporation, Desiccare Inc., and Linpac Packaging Limitied.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Contract packaging market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Contract packaging market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Contract packaging market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on” Global Contract Packaging Market”.
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