The contract packaging industry is booming with a projected global market value of $120.5 billion by 2030, revealing how behind-the-scenes co-packers are powering the products we use every day.
Key Takeaways
- The global contract packaging market size was valued at USD 68.4 billion in 2023 and is projected to grow at a CAGR of 7.8% from 2024 to 2030, reaching USD 120.5 billion by 2030.
- North America's co-packing industry generated revenue of USD 18.2 billion in 2022, accounting for 28% of the global market.
- The Europe contract packaging market is expected to register a CAGR of 6.5% during the forecast period 2023-2028, driven by sustainable packaging demands.
- Food and beverages held 41.3% revenue share in the global contract packaging market in 2023.
- Pharmaceutical co-packing segment accounted for 22.7% of the market in 2022, valued at USD 14.9 billion.
- Consumer goods co-packing services generated USD 12.4 billion in 2023, representing 18% market share.
- North America food co-packing market was USD 10.5 billion in 2023, 32% of regional total.
- Europe pharmaceutical co-packing valued at EUR 8.2 billion (USD 9.1B) in 2022.
- Asia-Pacific beverage co-packing segment generated USD 7.8 billion in 2023.
- Sonoco Products Company holds 4.2% share in global co-packing market in 2023.
- Amcor plc generated USD 14.7 billion in contract packaging related revenues in FY2023.
- Berry Global Inc. co-packing division reports 12% market share in North America plastics.
- 72% of co-packers adopted sustainable packaging materials by 2023.
- Automation in co-packing lines increased productivity by 35% on average from 2020-2023.
- 58% growth in demand for flexible packaging co-packing services 2018-2023.
The global co-packing market is growing robustly, led by food and pharmaceutical demand.
Key Players and Market Share
- Sonoco Products Company holds 4.2% share in global co-packing market in 2023.
- Amcor plc generated USD 14.7 billion in contract packaging related revenues in FY2023.
- Berry Global Inc. co-packing division reports 12% market share in North America plastics.
- Tetra Pak International S.A. leads liquid packaging co-packing with 18% global share.
- Winpak Ltd. has 3.8% share in flexible packaging co-packing segment 2023.
- Hood Packaging Corporation's annual co-packing revenue USD 1.2 billion in 2023.
- ProAmpac Holdings leads in sustainable co-packing with 5.1% market share.
- Constantia Flexibles Group AG holds 2.9% share in Europe co-packing market.
- Coveris Holdings S.A. co-packing revenues EUR 2.1 billion (USD 2.3B) in 2022.
- Huhtamaki Oyj 4.5% global share in food co-packing services.
- Scholle IPN Corporation 2.7% share in pouch co-packing.
- DS Smith plc 3.4% Europe market share in co-packing.
- Sealed Air Corporation 4.1% share in protective co-packing.
- Mondi Group 3.9% share in paper-based co-packing.
- Graphic Packaging International 2.5% market share.
- Ball Corporation 1.8% share in metal co-packing.
- WestRock Company 3.2% share in corrugated co-packing.
- Smurfit Kappa Group 4.0% Europe share.
- Owens-Illinois 2.2% glass co-packing share.
- RPC Group (Berry) 5.3% flexible share.
Key Players and Market Share Interpretation
The global co-packing market is a mosaic of specialized giants, where the real prize isn't just a piece of the pie but becoming the undisputed champion of your particular slice, whether it’s squeezing liquids, shaping plastics, or wrapping sustainably.
Market Size and Growth
- The global contract packaging market size was valued at USD 68.4 billion in 2023 and is projected to grow at a CAGR of 7.8% from 2024 to 2030, reaching USD 120.5 billion by 2030.
- North America's co-packing industry generated revenue of USD 18.2 billion in 2022, accounting for 28% of the global market.
- The Europe contract packaging market is expected to register a CAGR of 6.5% during the forecast period 2023-2028, driven by sustainable packaging demands.
- Asia-Pacific co-packing market revenue stood at USD 22.1 billion in 2023, with a projected CAGR of 9.2% through 2032.
- U.S. contract packagers reported average annual revenue growth of 5.4% from 2018 to 2023.
- The global co-packing market for pharmaceuticals reached USD 15.7 billion in 2022, growing at 8.1% CAGR.
- Contract packaging services in the food sector valued at USD 32.5 billion globally in 2023.
- Latin America co-packing market is anticipated to grow from USD 4.8 billion in 2023 to USD 7.9 billion by 2030 at 7.3% CAGR.
- Middle East & Africa contract packaging industry size was USD 3.2 billion in 2022 with 6.9% projected CAGR.
- The primary packaging segment dominated the co-packing market with 62% share in 2023.
- Global co-packing market CAGR projected at 7.2% from 2024-2032.
- U.S. co-packing profit margin averaged 6.8% in 2023.
- Southeast Asia co-packing market to grow 11.5% CAGR to 2030.
- Middle East co-packing CAGR 8.4% projected 2024-2028.
- Africa co-packing market USD 1.5 billion in 2023.
- Global co-packing entered 2024 with 4.3% YoY growth Q1.
Market Size and Growth Interpretation
The global market for contract packaging is exploding, projected to nearly double to over $120 billion by decade's end, revealing that companies worldwide are increasingly willing to pay a premium to outsource their boxing, shrink-wrapping, and pharmaceutical blister-packing to specialists, particularly in high-growth regions like Asia-Pacific.
Product Segments
- Food and beverages held 41.3% revenue share in the global contract packaging market in 2023.
- Pharmaceutical co-packing segment accounted for 22.7% of the market in 2022, valued at USD 14.9 billion.
- Consumer goods co-packing services generated USD 12.4 billion in 2023, representing 18% market share.
- Beverage co-packing sub-segment grew at 8.5% CAGR from 2019-2023.
- Personal care products segment in co-packing reached USD 8.6 billion in 2023 with 14% share.
- Frozen and refrigerated food co-packing valued at USD 9.2 billion globally in 2022.
- E-liquid and vaping products co-packing market size was USD 1.8 billion in 2023.
- Dairy products contract packaging segment held 11.5% share in 2023.
- Pet food co-packing revenues reached USD 4.1 billion in 2022, growing 7.2% annually.
- Healthcare and nutraceuticals co-packing segment at USD 7.3 billion in 2023.
- Contract packaging for cosmetics reached USD 5.6 billion in 2023.
- Rigid packaging segment 38% share in co-packing market 2023.
- Snack foods co-packing USD 6.8 billion globally 2023.
- Meat & poultry co-packing segment USD 4.9 billion 2023.
- Bakery products co-packing USD 3.7 billion 2023.
- Global secondary packaging co-packing USD 18.9 billion 2023.
- Tertiary packaging segment 12% share in co-packing 2023.
- Sauces & condiments co-packing USD 2.4 billion 2023.
- Confectionery co-packing segment USD 3.1 billion 2023.
- Plant-based meat co-packing USD 1.7 billion 2023.
Product Segments Interpretation
The co-packing industry is less about someone else doing your dirty work and more about letting you focus on creating the perfect snack, pill, or potion while the experts handle the equally important work of actually getting it into a box someone wants to buy.
Regional Statistics
- North America food co-packing market was USD 10.5 billion in 2023, 32% of regional total.
- Europe pharmaceutical co-packing valued at EUR 8.2 billion (USD 9.1B) in 2022.
- Asia-Pacific beverage co-packing segment generated USD 7.8 billion in 2023.
- U.S. co-packing industry employs 45,200 people as of 2023.
- China contract packaging market size USD 15.4 billion in 2023, largest in APAC.
- Germany co-packing revenues at EUR 4.5 billion (USD 5.0B) in 2022.
- India co-packing market growing at 10.2% CAGR, valued at USD 3.9 billion in 2023.
- Brazil contract packaging industry size USD 2.7 billion in 2023.
- UK co-packing market share 12% of Europe, USD 3.8 billion in 2022.
- Mexico co-packing revenues USD 1.9 billion in 2023, 8% regional growth.
- Canada co-packing market USD 2.4 billion in 2023.
- France co-packing industry employs 12,500 workers in 2023.
- Australia co-packing revenues AUD 1.8 billion (USD 1.2B) 2023.
- Japan co-packing market USD 4.2 billion, 9.8% CAGR.
- Italy co-packing revenues EUR 2.8 billion 2022.
- South Korea co-packing USD 2.1 billion 2023.
- Spain co-packing market growth 7.1% annually.
- Netherlands co-packing employs 8,200 in 2023.
- Argentina co-packing USD 0.9 billion 2023.
- U.S. Midwest co-packing hub 25% national capacity.
- Poland co-packing market EUR 1.2 billion 2022.
Regional Statistics Interpretation
While billions are being boxed and bagged worldwide, from America's massive meals to Europe's precise pills and Asia's bustling beverages, it's clear the co-packing industry is proving that outsourcing your output is far from an empty package.
Trends and Innovations
- 72% of co-packers adopted sustainable packaging materials by 2023.
- Automation in co-packing lines increased productivity by 35% on average from 2020-2023.
- 58% growth in demand for flexible packaging co-packing services 2018-2023.
- Rise of e-commerce drove 22% increase in co-packing for shippable pouches in 2023.
- 65% of co-packers implemented IoT for real-time monitoring by end of 2023.
- Biodegradable packaging adoption in co-packing up 41% year-over-year in 2023.
- Personalized packaging via co-packers grew 28% in consumer goods segment 2023.
- 47% of industry shifted to recyclable materials in primary co-packing by 2023.
- AI-driven quality control adopted by 39% co-packers, reducing defects by 25%.
- Ready-to-eat meals co-packing demand surged 33% post-2020 pandemic.
- 55% co-packers report supply chain optimization as top trend.
- Vegan product co-packing demand up 52% since 2020.
- Robotics integration in co-packing up 62% by 2023.
- Clean label packaging trend adopted by 68% co-packers.
- Microplastics reduction initiatives in 49% co-packers.
- Blockchain traceability used by 27% co-packers 2023.
- 76% co-packers focus on reducing plastic use.
- Vertical farming product co-packing up 19%.
- AR/VR for packaging design in 14% co-packers.
- Energy-efficient machinery in 61% facilities.
Trends and Innovations Interpretation
The co-packing industry is sprinting into the future by automating its way to efficiency, dressing everything in sustainable materials to appease a planet-conscious market, all while deftly packing the endless stream of personalized vegan meals and shippable pouches demanded by our new, digital-first world.
Sources & References
- Reference 1GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 2MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 3MORDORINTELLIGENCEmordorintelligence.comVisit source
- Reference 4ALLIEDMARKETRESEARCHalliedmarketresearch.comVisit source
- Reference 5IBISWORLDibisworld.comVisit source
- Reference 6FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 7STATISTAstatista.comVisit source
- Reference 8POLARISMARKETRESEARCHpolarismarketresearch.comVisit source
- Reference 9TRANSPARENCYMARKETRESEARCHtransparencymarketresearch.comVisit source
- Reference 10COHERENTMARKETINSIGHTScoherentmarketinsights.comVisit source