Bizizz Market Research has recently published a research report, “Contract Packaging Market By Packaging Type (Primary Packaging, Secondary Packaging and Tertiary Packaging), Application (Food and Beverages, Pharmaceuticals, Home products, and fabrics, Cosmetics and beauty care), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Contract Packaging Market was valued at US$ XX Bn in 2018 and it is anticipated to reach a market value of US$ 183.6 Bn by 2027, witnessing a CAGR of 15 % during the forecast period. Key drivers of the market are increasing demand by the end-user industries because of an increased demand from the packaging industry.
The global market for contract packaging is anticipated to grow rapidly during the forecast period. Advanced innovations in packaging market along with customization are propelling its market growth for the contract packaging market. Such as, late-stage customization and postponement packaging are well recognized, mostly in little volumes. Moreover, such kind of packaging could be expansive needs expertise that can be fulfilled by co-packers. These factors are propelling the market demand for the contract packaging solutions by the various industries.
The Contract Packaging market is anticipated to register a CAGR of over 15% during the forecast period.
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By Application, Food & Beverages segment held a key share in Global Contract Packaging Market in 2018.
The global market of Food and beverages had accounted for a considerable share in 2018 and is anticipated to remain its leading position during the forecast period. In the contract packaging market, the food and beverage segment is playing vital role in its market growth and it accounts to increase in the revenue share. Rising purchasing power and health concerns among end-users in the developing nations are anticipated to drive the demand for appropriate packaging solutions. Contract packers generally have good facilities required for food & beverage packaging that is fueling its market growth.
North America is Anticipated to Dominate the Global Contract Packaging Market during the Forecast Period.
The North America region estimated for a considerable share of xx% in 2018 and is anticipated to dominance the market during the forecast period. The contract packaging market of North America is exponentially rising because of the growing demand for packaging various segments including food and beverages, beauty care, pharmaceuticals, and other segments.
Global Contract Packaging market was moderately consolidated with key players accounting for a significant share in 2018. The organizations are involved in expanding their global presence through partnerships and mergers and acquisitions to compete in the market.
Prominent players operating in the Global Contract Packaging Market are Green Packaging Asia, Co-Pak Packaging, Assemblies Unlimited Inc., Deufol, Unicep Packaging, DHL., Genco, Stamar Packaging, Summit Container, Jones Packaging, Aaron Thomas Company Inc., AmeriPac Inc., Nulogy Corporation, Sharp Packaging, Wepackit Inc., Sterling Contract Packaging Inc., Kelly Products Inc., Sonic Packaging Industries, CWS Contract Packaging Services,, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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