The Latest Contract Packaging Industry Statistics Explained
The global contract packaging market size was estimated at USD 40.64 billion in 2019.
The statistic indicates that the total value of the global contract packaging market was approximately $40.64 billion in 2019. This figure represents the revenue generated by companies that provide packaging services on a contract basis, meaning they package products on behalf of other companies. The size of the contract packaging market gives insight into the growing demand for outsourced packaging services across various industries. Factors such as the increasing complexity of packaging requirements, focus on cost-efficiency, and the need for specialized packaging solutions are likely driving the expansion of the market. This statistic serves as a key indicator for industry stakeholders, investors, and policymakers to understand the scale and significance of the contract packaging sector in the global economy.
The global contract packaging market is anticipated to grow at a CAGR of 7.2% from 2021 to 2028.
This statistic implies that the global contract packaging market is expected to experience significant growth over the period from 2021 to 2028, with a Compound Annual Growth Rate (CAGR) of 7.2%. The CAGR represents the average annual growth rate of the market during this timeframe, indicating a steady and sustained increase in market size and demand for contract packaging services. This growth projection suggests a positive outlook for the industry, driven by factors such as increasing globalization, expanding e-commerce activities, and the growing trend towards outsourcing packaging services among companies. Organizations operating in the contract packaging sector can utilize this information to make informed decisions and strategically plan for business expansion and investment opportunities in the coming years.
The food and beverage segment held the largest market share of USD 14.32 billion in terms of revenue in 2019.
The statistic indicates that in 2019, the food and beverage segment had the highest revenue among all segments, amounting to USD 14.32 billion. This suggests that the food and beverage industry dominated the market, outperforming other segments in terms of generating revenue. The significant market share held by this segment may suggest strong consumer demand, effective marketing strategies, and competitive positioning within the industry. This statistic highlights the importance and impact of the food and beverage sector within the overall market landscape in 2019.
The Asia Pacific contract packaging market is expected to witness the highest growth of 8.2% CAGR from 2021 to 2028.
This statistic indicates that the Asia Pacific contract packaging market is projected to experience a compound annual growth rate (CAGR) of 8.2% from 2021 to 2028. This growth rate reflects the anticipated increasing demand for outsourced packaging services in the region during this period. Factors driving this growth may include the rising focus on cost-effective and flexible packaging solutions by companies, the expansion of e-commerce and retail industries, as well as the trend of outsourcing non-core activities like packaging to specialized firms. The higher CAGR in the Asia Pacific region compared to other regions suggests a strong market potential for contract packaging services in this geographical area in the coming years.
The pharmaceutical contract packaging market is predicted to reach $47.2 billion by 2028.
The statistic that the pharmaceutical contract packaging market is predicted to reach $47.2 billion by 2028 indicates a significant growth trajectory in the market over the coming years. This forecasted increase reflects various factors, such as the rising demand for pharmaceutical products globally, advancements in drug development technologies, and outsourcing strategies adopted by pharmaceutical companies to streamline their operations. The projected market size highlights opportunities for contract packaging companies to expand their services and cater to the evolving needs of the pharmaceutical industry, driving economic growth within the sector. Additionally, it underscores the importance of packaging in ensuring the safety, quality, and compliance of pharmaceutical products, emphasizing the critical role that contract packaging plays in the industry’s supply chain.
By 2025, the contract packaging industry for cosmetic products is predicted to hit $14.3 billion.
The statistic indicates a projected growth in the contract packaging industry for cosmetic products, estimating a value of $14.3 billion by the year 2025. This suggests a significant increase in the market size compared to previous years, indicating a growing consumer demand for cosmetic products and an increasing reliance on contract packaging services within the industry. This forecast is based on various factors such as market trends, consumer preferences, and industry investments, all pointing towards a positive outlook for the contract packaging sector for cosmetic products in the upcoming years. The statistic serves as a valuable insight for stakeholders in the cosmetic industry to anticipate and capitalize on the potential opportunities and challenges that may arise as the market continues to expand.
The U.S. held the largest market share of about 22.0% in 2019 in the global contract packaging market.
This statistic indicates that the United States accounted for the largest proportion of the global contract packaging market in 2019, representing approximately 22.0% of the total market share. This implies that a significant portion of the contract packaging services worldwide were provided by U.S. companies. The dominance of the U.S. in this market suggests strong capabilities, facilities, expertise, and demand for contract packaging services within the country. It also highlights the competitive nature of the global contract packaging industry and the importance of the U.S. as a key player in meeting the packaging needs of various industries on a contractual basis.
The global contract packaging market valued at USD 46.21 billion in 2020.
The statistic ‘The global contract packaging market valued at USD 46.21 billion in 2020’ refers to the total dollar value of goods and services exchanged in the global contract packaging industry during the year 2020. This figure indicates the financial size and significance of the market, which involves companies providing packaging and related services on a contract basis for other businesses. Such services may include packaging design, assembly, labeling, and distribution. The substantial value of USD 46.21 billion signifies the scale of business activities within the contract packaging industry and suggests a high demand for these services in various sectors worldwide.
The primary packaging held around 40% of market share in the contract packaging industry in 2019.
The statistic indicates that the primary packaging segment accounted for approximately 40% of the total market share in the contract packaging industry in the year 2019. This implies that a significant portion of the industry’s activities and revenue generation were attributed to primary packaging services during that period. Primary packaging typically refers to the initial packaging of a product, such as bottles, jars, or tubes, before it is further packaged or labeled for retail sale. The high market share of primary packaging suggests its importance and dominance within the contract packaging sector, possibly due to factors like cost-effectiveness, efficiency, or demand from clients for this particular packaging service.
The rigid plastic packaging holds the largest market share, contributing around 40%, in the global contract packaging market.
The statistic indicates that rigid plastic packaging dominates the global contract packaging market by holding the largest market share, accounting for approximately 40% of the total market. This means that a significant portion of contract packaging services provided worldwide involve packaging products in rigid plastic materials. The popularity and prevalence of rigid plastic packaging in the market suggest that it is a preferred choice for businesses looking to outsource their packaging needs. Factors such as durability, cost-effectiveness, and ease of customization may contribute to the widespread use and preference for rigid plastic packaging in the global contract packaging industry.
In 2017, the Contract Packaging Association reported 50% more members than in 2008.
The statistic “In 2017, the Contract Packaging Association reported 50% more members than in 2008” indicates a substantial increase in the number of members belonging to the association over the nine-year period. Specifically, it means that the membership count in 2017 was half as much again as the count in 2008. This percentage increase provides valuable insight into the growth and popularity of the Contract Packaging Association over the years, suggesting an expanding network of industry professionals and potentially signaling a thriving and evolving landscape within the contract packaging sector.
The electronics industry in the US has grown 1.6% in revenue from contract packaging in 2020.
The statistic indicates that the revenue generated from contract packaging within the electronics industry in the United States increased by 1.6% in 2020 compared to the previous year. This growth rate suggests a positive trend in the industry’s performance during the specified period, potentially reflecting increased demand for electronics products and services. The uptick in revenue from contract packaging could be influenced by various factors such as technological advancements, changes in consumer preferences, and market expansion. Overall, the 1.6% growth in revenue from contract packaging in the electronics industry in 2020 highlights a modest but encouraging development in the sector’s financial performance.
In 2018, the contract packaging industry employed 839,000 people in the US.
The statistic ‘In 2018, the contract packaging industry employed 839,000 people in the US’ represents the total number of individuals who were employed in the contract packaging sector in the United States in the year 2018. This figure indicates the workforce size dedicated to providing packaging services for a wide range of industries on a contract basis. The statistic highlights the significant role that contract packaging plays in the economy, showcasing the scale of employment opportunities and the importance of this sector in supporting various businesses in efficiently packaging their products for distribution and sale.
70% of customers value a product’s packaging nearly as much as the product itself.
The statistic ‘70% of customers value a product’s packaging nearly as much as the product itself’ indicates that a significant portion of consumers place a high level of importance on the packaging of a product when making purchasing decisions. This suggests that packaging plays a crucial role in influencing consumer behavior and perceptions of the overall value of a product. Marketers and businesses should factor in the significance of packaging design and quality to effectively attract and retain customers, as it seems that packaging can have a substantial impact on consumer preferences and buying behavior.
The Contract Packaging Association predicts its members to grow on average 13.5% annually.
The statistic provided indicates that the Contract Packaging Association anticipates its members to experience an average annual growth of 13.5%. This growth rate suggests a significant level of expansion within the contract packaging industry, with member companies expected to increase their revenue, clientele, and operations at a brisk pace. The prediction of a 13.5% annual growth reflects a positive outlook on the market demand for contract packaging services, demonstrating confidence in the industry’s ability to attract and retain clients and adapt to changing consumer preferences. Overall, this statistic highlights a promising future for contract packaging companies within the association, signaling potentially robust opportunities for business growth and development in the coming years.
The Indian contract packaging market is forecasted to grow by USD 1.09 billion by 2024.
The statistic that the Indian contract packaging market is forecasted to grow by USD 1.09 billion by 2024 indicates a projected increase in the total market value from the current year to 2024. This growth suggests a positive trend in the demand for contract packaging services in India, which could be driven by factors such as increasing outsourcing of packaging activities by companies, rising consumer demand for packaged products, and advancements in technologies and materials used for packaging. The forecasted growth of USD 1.09 billion implies a significant expansion opportunity for businesses operating in the contract packaging industry in India, signaling a promising market outlook for the years ahead.
Returnable packaging market is expected to grow at 6% CAGR during 2020-2027 within the contract packaging industry.
The statistic suggests that the returnable packaging market is projected to experience a Compound Annual Growth Rate (CAGR) of 6% between 2020 and 2027 within the contract packaging industry. This growth rate indicates the estimated annual average growth of the market size over the specified period, highlighting a positive trend in the demand for returnable packaging solutions within the contract packaging sector. The expectation of a 6% CAGR implies sustained growth opportunities for businesses operating in this market segment, reflecting the importance of environmentally friendly and cost-effective packaging options in the evolving industry landscape.
In Europe, the contract packaging market is predicted to reach $23.5 billion by 2030.
The statistic indicates that the contract packaging market in Europe is expected to grow significantly, reaching a value of $23.5 billion by the year 2030. This suggests a robust expansion in the demand for external packaging services across various industries. Factors such as the increasing trend towards outsourcing packaging services, the rise of e-commerce, and the need for customized packaging solutions are likely contributing to this projected growth. The forecasted market size not only reflects the growing reliance on contract packaging services within the European market but also underscores the potential opportunities for packaging companies and stakeholders to capitalize on this expanding sector in the coming years.
The revenue of the Australian contract packaging industry reached AUD 2.2 billion in 2021.
The statistic indicates that the total revenue generated by the contract packaging industry in Australia reached AUD 2.2 billion in the year 2021. This figure represents the combined value of all goods and services produced within the industry during that specific period. The revenue generated is a key indicator of the industry’s economic performance and overall contribution to the Australian market. It suggests a significant level of activity and demand for contract packaging services in the country, highlighting the industry’s importance and potential for growth.
Conclusion
Overall, the contract packaging industry is experiencing steady growth and is expected to continue expanding in the coming years. With increasing demand for efficient packaging solutions and the rise of e-commerce, contract packagers are poised for success. By staying informed and adapting to market trends, companies in the contract packaging industry can position themselves for long-term success and continued growth.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.marketresearchfuture.com
2. – https://www.www.globenewswire.com
3. – https://www.www.packaginglaw.com
4. – https://www.web.archive.org
5. – https://www.www.reportsanddata.com
6. – https://www.www.statista.com
7. – https://www.www.psmarketresearch.com
8. – https://www.www.ibisworld.com
9. – https://www.www.transparencymarketresearch.com
10. – https://www.www.prnewswire.com
11. – https://www.www.packagingdigest.com
12. – https://www.www.engineering.com
13. – https://www.www.technavio.com
