DUBLIN--(BUSINESS WIRE)--The "Global Contract Packaging Market - Segmented by Packaging (Primary, Secondary, and Tertiary), End-user Industry (Food, Beverage, Pharmaceutical, and Household & Personal Care), and Region - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The Global Contract Packaging Market was valued at USD 40.65 billion in 2017, and is expected to reach a value of USD 78.14 billion by 2023 at a CAGR of 11.51%, over the forecast period (2018-2023).
Growth in the global contract packaging market is mainly determined by the changing preference of manufacturing firms toward contract packagers, as they are increasingly focusing on cost optimization, and their core business. The operational costs can be reduced by 7% to 9% through this strategy, due to the reduced machinery-maintenance and labor-costs.
The global contract packaging market is highly fragmented, with the presence of many small and large vendors. The entry of third-party logistics companies in the contract packaging market is one such trend, which helps in reducing the total delivery-cycle time and also the combined cost of packaging, transportation, and distribution. Globally, there is an increase in the number of e-commerce companies, and contract packagers are experiencing the growing demand from these companies.
Key Highlights
- Growing Consumption of Pharmaceuticals is Driving Market Growth
- Food End-user Industry has the Largest Market Share
- North America to Dominate the Market over the Forecast Period
Developments in the Market
- April 2017 - Sharp Packaging Services acquired Daiichi Sankyo's pharmaceutical packaging facility in Bethlehem.
- February 2017 - CCL industries acquired Innovia group of companies, for an all cash enterprise value of approximately USD 1.14 billion, net estimated cash on close of USD 43 million.
Key Topics Covered
1. Introduction
2. Research Approach and Methodology
3. Executive Summary
4. Market Analysis
5. Market Dynamics
6. Global Contract Packaging Segmentation
7. Competitive Intelligence - Company Profiles
- Aaron Thomas Company
- CCL Industries
- Multipack Solutions
- Pharma Tech Industries
- Reed Lane
- Sharp Packaging Services
- Unicep Packaging
- Green Packaging Asia
- Jones Packaging
- Gardan Packaging
- Stamar Packaging
- Genco (Fedex Supply Chain)
8. Investment Analysis
9. Outlook of the Market
For more information about this report visit https://www.researchandmarkets.com/research/g4s7pg/global_contract?w=4
