Yahoo Finance Contract Packaging Market Size & Share to Surpass $61.4 Billion by 2028 | Vantage Market Research
WASHINGTON, Feb. 01, 2023 (GLOBE NEWSWIRE) -- According to the report published by Vantage Market Research, the global Contract Packaging Market garnered $ 42.1 Billion in 2021 and is estimated to generate $ 61.4 Billion by 2028, manifesting a CAGR of 6.5% from 2022 to 2028. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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Market Dynamics:
Driver:
Increase in Pharmaceutical Industry Due to COVID-19 Outbreak to Drive Market Growth
The pharmaceutical industries sustained throughout the pandemic and witnessed excessive growth due to the pandemic. The increasing research and development in the pharmaceutical industry have led to the introduction of novel drugs with more exceptional performance than their predecessor. In addition, different pharmaceutical industries outsourced the job of packaging end-products to companies trained labor those specialized in handling the packaging of medicines. So, pharmaceutical packaging is essential, as the product should be safe for patient consumption. Moreover, advancements in medical sciences and additions to medicines are now available for various diseases and deficiencies, which is influencing the Global Contract Packaging Market industry positively, as the need for drug packaging has rapidly increased. Hence, the Contract Packaging Market is driven by the substantial escalation of the pharmaceutical industry because of the pandemic.
Ability to Adapt to a Sustainable Model to Stimulate the Market Growth
The success rate of the e-commerce channels has turned out to be the benchmark for determining the Global Contract Packaging Market's expansion prospects lately. Additionally, several industries, including pharmaceuticals, cosmetic items, food products, and agriculture, are shifting increasingly to online distribution channels to widen their global exposure. Furthermore, and simultaneously, the Contract Packaging Market industry players are under the requirement to augment their time efficiency and customizable approach to make higher their clientele's brand representation. Therefore, key participants are now competing to utilize renewable and recyclable packaging materials, such as paper, metal, and glass, to achieve sustainable ends.
Top Players in the Global Contract Packaging Market
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.
We Pack It Inc.
For Additional Information on Contract Packaging Market Players and Detail List, Download a Report PDF Brochure
Recent Developments:
June 2020: Jones Healthcare Group, the world-class provider of advanced packaging & medication dispensing solutions, made a significant investment in its packaging services, including an integrated two-lane Uhlmann blister packaging line. In addition, this highly automated equipment will advance the firm’s capacity to manage surges relating to the demand and unique blister combinations as more complex pharmaceutical dosage forms & regimes are evolving clinically and commercially.
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Regional Analysis:
Asia Pacific Dominated the Global Contract Packaging Market
Asia Pacific is leading the Global Contract Packaging Market in 2021 and is expected to continue the same during the forecast period. The region’s expansion is due to the demand for packaging in pharmaceuticals, beauty care, food and beverages, and other segments. Also, this region's high consumption of ready-to-eat food products and carbonated beverages, and the presence of upgraded dispersion are driving the industry expansion. Moreover, the government has issued several standards and regulations for pharmaceutical labeling and packaging drugs in the U.S. region, which is likely to fuel market growth in the future. Besides, many Contract Packaging Market participants in Canada and the U.S. are learning to adjust to the demanding business conditions.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Contract Packaging Market Forecast Report (2022-2028).
Global Contract Packaging Market Segmentation
By Packaging Type
Primary
Secondary
Tertiary
By Material
Plastic
Metal
Glass
Paper & Paperboard
By End User Industry
Food & Beverage
Pharmaceutical
Electronics
Personal Care
Other End Users
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Scope of the Report:
Report Attributes | Details |
Market Size in 2021 | USD 42.1 Billion |
Revenue Forecast by 2028 | USD 61.4 Billion |
CAGR | 6.5% from 2022 to 2028 |
Base Year | 2021 |
Forecast Year | 2022 to 2028 |
Key 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. |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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