Contract Packaging Market Size is Projected to Reach US$ 103.0 Billion by 2028

Industry Overview of Contract Packaging Market
Contract packaging refers to the outsourcing of packaging services to a specialized company, known as a contract packager or co-packer. In this arrangement, a brand or company partners with a contract packager to handle various aspects of the packaging process, including design, sourcing, assembly, and distribution. Contract packaging services are commonly utilized when a company lacks the in-house resources, expertise, or equipment required for efficient and cost-effective packaging operations. Contract packagers offer a range of packaging solutions, such as primary packaging (individual product packaging), secondary packaging (grouping or bundling products), and tertiary packaging (palletizing and shipping). By leveraging the expertise and capabilities of contract packagers, brands can benefit from streamlined operations, reduced costs, improved time-to-market, and flexibility in scaling production to meet fluctuating demand.

How Big Is the Contract Packaging Market?
The global contract packaging market size reached US$ 63.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 103.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.05% during 2023-2028.

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Global Industry Trends and Drivers:
The contract packaging market is driven by several industry trends and drivers. One key factor is the increasing demand for outsourcing packaging operations by companies across various sectors. As businesses strive for operational efficiency and cost optimization, they turn to contract packagers to handle their packaging needs, allowing them to focus on core competencies and reduce capital investments in packaging equipment and facilities. Another significant driver is the growing emphasis on flexible and agile packaging solutions. With changing consumer preferences and shorter product lifecycles, companies require packaging services that can quickly adapt to varying packaging formats, sizes, and designs. Contract packagers offer the expertise and resources to accommodate these dynamic requirements.

The rising importance of sustainability is also influencing the contract packaging market. Companies are seeking environmentally friendly packaging options and are partnering with contract packagers to develop sustainable packaging solutions. This includes utilizing recyclable materials, reducing packaging waste, and implementing eco-friendly practices throughout the packaging process.

Contract Packaging Market Growth and Opportunities:
The contract packaging market is experiencing significant growth and presenting lucrative opportunities. One of the key drivers of this growth is the increasing demand from companies seeking to optimize their supply chain and enhance operational efficiency. By outsourcing packaging operations to contract packagers, businesses can focus on their core competencies, reduce capital expenditures, and gain access to specialized expertise and resources. Moreover, the rapid growth of e-commerce and the need for efficient online order fulfillment are driving the demand for contract packaging services. Contract packagers offer the flexibility to handle diverse packaging requirements, including customized packaging, kitting, and assembly, to meet the specific needs of e-commerce businesses.

Another driver is the rising emphasis on sustainable and eco-friendly packaging solutions. Contract packagers are at the forefront of developing innovative packaging materials and processes that minimize environmental impact. By collaborating with contract packagers, companies can align with sustainability goals and meet consumer expectations for eco-friendly packaging options.

What Is Included In Market Segmentation?
The report has been segmented the market into following categories:

Breakup by Packaging Type:
Primary
Secondary
Tertiary

Breakup by Material:
Plastic
Metal
Glass
Paper and Paperboard

Breakup by Service:
Bottling
Bagging/Pouching
Lot/Batch and Date Coding
Boxing and Cartoning
Wrapping and Bund
Labelling
Clamshell and Blister
Others

Breakup by End Use Industry:
Food and Beverage
Pharmaceutical
Electronics
Personal Care
Others

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:

Aaron Thomas Company Inc., AmeriPac, Assemblies Unlimited Inc., Co-Pak Packaging Corporation, Hollingsworth, Kelly Products Incorporated, Marsden Packaging Ltd., Multi-Pack Solutions LLC, Reed-Lane. Inc., Sonic Packaging Industries Inc., Sterling Contract Packaging Inc. and Unicep Packaging LLC (Silgan Holdings Inc.).

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This release was published on openPR.