Packaging and Labeling Services Market 2024 - Size, Trends, Growth Analysis, Outlook, Overview By 2033

The packaging and labeling services market size has grown strongly in recent years. It will grow from $47.12 billion in 2023 to $50.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to consumer goods demand, globalization and international trade, consumer preferences and branding, marketing and branding strategies, e-commerce growth..

The packaging and labeling services market size is expected to see strong growth in the next few years. It will grow to $65.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to sustainability initiatives, customization and personalization, emerging market trends, supply chain resilience, evolving consumer preferences.. Major trends in the forecast period include digital printing, anti-counterfeiting measures, regulatory compliance, supply chain resilience, brand storytelling through packaging.

Market Overview -
Packaging refers to designing and developing a container, wrapper, box, tube, plastic bottle, tetra pack, or tin for a product enclosing. It protects the product during distribution, storage, sale, and end-use. Labeling is present on the packaging in the written, electronic form which communicates the product and manufacturer details to the customers.

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Rising Consumer Demand For Food And Beverages Drives Growth In The Packaging And Labeling Service Market
The increasing demand for food and beverages is expected to propel the growth of the packaging and labeling service market going forward. Food and beverages refer to snacks, meals, drinks and other items that are intended for the consumption. Consumers are opting for healthier lifestyles after the COVID-19 pandemic which is increasing demand for packaged healthy foods and beverages. Packaging and labeling provide shelf existence and avoid contamination of food and beverage products. For instance, in February 2023, according to the Federal Reserve Economic Data, the economic data from US-based central banking system, personal food consumption expenditures increased from $1,310 billion in December 2022 to $1,315 billion in January 2023. Therefore, the rise in the demand for food and beverages is driving the growth of the packaging and labeling service market.

Competitive Landscape -
Major companies operating in the packaging and labeling services market report are 3M Company, Amcor plc, Bemis Company Inc., CCL Industries Inc., E.I. du Pont de Nemours and Company, Gerresheimer AG, Owens-Illinois Inc., Schott AG, Sonoco Products Company, WestRock Company, Case Mason Filling Inc., AmeriPac Inc., ELIS Packaging Solutions Inc., XPress 360, Action Pak Inc., AB Graphic International, Avery Dennison Corporation, Constantia Flexibles, Coveris Holdings S.A., DuPont de Nemours Inc., Berry Global Group Inc., Crown Holdings Inc., Graphic Packaging International LLC, International Paper Company, Mondi plc, Reynolds Group Holdings Limited, Sealed Air Corporation, Smurfit Kappa Group plc, Colbert Packaging, Elsons International .

Focus On Providing Enhanced Carbon Labeling Services To Their Customers
Major companies operating in the packaging and labeling services market are focusing on innovative services such as carbon labeling services to drive revenues in their market. Carbon labeling services give organizations impartial confirmation and assurance so they may monitor and control their emissions, develop plans for reducing carbon emissions, and set goals for the future. For instance, in January 2021, Amcor Limited, a Switzerland-based packaging company launched, a carbon labeling service. The purpose of the carbon labels is to educate consumers about the influence that products have on climate change. Companies that can demonstrate that they have reduced the carbon footprint of a certain product by at least 20 percent are granted these labels. Through impartial carbon labeling from the Carbon Trust, the service assists brand owners in communicating the packaging's decreased carbon footprint.

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Key Segments -

The packaging and labeling services market covered in this report is segmented -

1) By Packaging Type: Primary, Secondary
2) By Material Type: Bioplastic, Paper, Plastic
3) By End User: Healthcare, Pharmaceutical, Personal Care, Food And beverages, Transport And logistics, Automotive And Aerospace, Retail And E-Commerce

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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