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Packaging and Labeling Services Market (2024-2033)- Industry Share, Growth, Price And Trends Forecast Report
Packaging and Labeling Services Market
As per the report, 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 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%.
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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.
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.
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
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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 .
Contents of the report:
1. Executive Summary
2. Packaging and Labeling Services Market Report Structure
3. Packaging and Labeling Services Market Trends And Strategies
4. Packaging and Labeling Services Market - Macro Economic Scenario
5. Packaging and Labeling Services Market Size And Growth
…..
27. Packaging and Labeling Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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