DUBLIN--(BUSINESS WIRE)--The "Global Package Testing Market - Segmented by Type (Drop Tests, Vibration Tests, Shock Tests, Compression Testing), Primary Materials (Glass, Paper, Metals, Plastics), and Region - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global package testing market was valued at USD 8.25 billion in 2017 and is expected to reach a value of USD 17.18 billion by 2023 at a CAGR of 12.62% over the forecast period (2018-2023).
The packaging now behaves as a primary face of the brand and the quality of the packaging now affects the perceived quality of the product, therefore, the need for package testing has increased. The primary objectives for the same are to ensure higher shelf life and the reduction of costs normally associated with damaged goods.
Moreover, the governments all over the world have set strict regulations to ensure the safety of the package, thus, mandating the testing packaging for safety and durability. Rigorous control regulations and administration, along with qualification demands all over the world are increasing the demand for package testing.
However, the costs associated with the testing of packaging are quite high, making it harder for small-scale manufacturers and industries to invest in this process, thereby, hindering the growth of this market.
The paper packing industry is growing at a decent rate and is expected to maintain a healthy growth during the forecast period. With increased consumption of consumer goods and packaged food around the world, the industry is expected to expand. Overall, the market is expected to double in size by 2020, while it is expected to register considerable growth in Asia-Pacific, Latin America, and European regions.
Key Highlights
- Demand for Longer Shelf Life is Driving the Market Growth
- North America to Hold the Largest Market Share
Developments in the Market
- November 2017 - DDL is offering photostability testing at its Eden Prairie, MN lab facility to assess the response to light exposure of pharmaceutical & combination products, cosmetics and other products.
Key Topics Covered
1. Introduction
2. Research Approach and Methodology
3. Executive Summary
4. Market Insights
5. Market Dynamics
6. Global Package Testing Market Segmentation
7. Competitive Intelligence - Company Profiles
- DDL Inc.
- Intertek Group PLC
- SGS SA
- CSZ Testing Services Laboratories
- Cryopak
- Advance Packaging Corporation
- Nefab Group
- National Technical Systems Inc.
- Turner Packaging Ltd.
- Cascade Tek
8. Investment Analysis
9. Future Outlook of Package Testing Market
For more information about this report visit https://www.researchandmarkets.com/research/nvwlkf/global_package?w=4
