Contract Packaging Market Precise Outlook 2020- Aaron Thomas Company, CCL Industries, Multipack Solutions, Pharma Tech Industries

Contract Packaging Market - Growth, Trends & Forecast (2020 - 2025)

The report presents an in-depth assessment of the Contract Packaging including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Contract Packaging investments from 2020 till 2025.

The contract packaging market was valued at USD 52.28 billion in 2019, and it is expected to reach a value of USD 118.94 billion by 2024, at a CAGR of 15.33%, over the forecast period 2020-2025. 

The Contract Packaging market is highly competitive and consists of a number of major players. Top Companies like Aaron Thomas Company, CCL Industries, Multipack Solutions, Pharma Tech Industries, Reed Lane, UNICEP Packaging, Sharp Packaging Services, Berkeley Contract Packaging (Summit Container Corporation ), GENCO(FedEx Supply Chain) among others

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Scope of the Report

Contract packaging is the process of assembling a product or good into its final finished packaging. Depending on the product, the final packaging constitutes a variety of forms, such as thermoformed/ plastic clamshell or blister packaging, a plastic bag, a standing corrugated retail point-of-sale display or a transport tray. Sometimes, contract packagers are tasked with something as simple as adding a bar code sticker to a product or as complex as planning, designing, producing, and fulfilling the entire package.

Key Market Trends

Growing Consumption of Pharmaceuticals is Driving the Market Growth

- The growth in advancement and research in the pharmaceutical industry has resulted in the introduction of new drugs, with greater performance compared to their predecessors. Recent improvements in medical sciences and additions to medicines already available for numerous diseases and deficiencies is driving the contract packaging market, indirectly, as the necessity of packaging the medicines has multiplied rapidly.
- Pharmaceutical organizations are now outsourcing the job of packaging end-products to organizations skilled labor specialized in handling the packaging of medicines. Pharmaceutical packaging of drugs is a vital aspect, as the product should be safe for patients consumption. This may not be a forte in the pharmaceutical organization, but for contract manufacturing.
- The need to create specialized packaging has boosted contract manufacturing. Furthermore, increasing old population, stringent regulations by governments for packaging and escalating public interest toward innovative packaging are some of the factors that are driving the pharmaceutical contract packaging segment.
- Moreover, the growth of prescription drug sales worldwide is directly impacting the rise in production of pharmaceutical drugs which is driving the contract packaging market.

Industry News:

- April 2019 - CCL Industries Inc., a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small business, and consumers, confirmed the acquisition of Hinsitsu Screen (Vietnam) Company Limited.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Contract Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.

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The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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