Contract Packaging Market size is anticipated to surpass USD 100 Billion by the end of 2033, growing at a CAGR of 8% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of contract packaging was over USD 50 Billion. The growth of the market can primarily be attributed to the spiking export value across the globe, increasing the e-commerce industry, and the growing population. As of 2021, the trade in goods touched off an export value of approximately USD 22,000 billion, up from USD 18,000 billion in 2018.
Global trends such as rising production of graphic paper, and higher demand for make-up, and other beauty products are projected to influence the growth of the market positively over the forecast period. The total production of graphic paper was estimated to be around 96,000 metric tons in 2020. Additionally, increasing export and import of paper and paperboard is further estimated to push the growth of the market during the forecast period. The export volume of paper and paperboard was noticed to be around 14 million metric tons solely from Germany in 2022. Hence, all these factors are anticipated to boost the growth of the contract packaging market over the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
8% |
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Base Year Market Size (2022) |
USD 50 Billion |
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Forecast Year Market Size (2033) |
USD 100 Billion |
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Regional Scope |
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Application (Food & Beverages, Home Products, Pharmaceuticals, Fabrics, Cosmetics, Skin & Hair Care)
The global contract packaging market is segmented and analyzed for demand and supply by application into food & beverages, home products, pharmaceuticals, fabrics, cosmetics, skin & hair care, and others, out of which, the food & beverages segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted for by the rising number of people suffering from hunger, increasing packaging regulations in food and beverages, growing packaging industries, and increasing consumer goods are boosting the demand for food. For instance, the food segment in 2022 was estimated to reach approximately USD 15 billion worldwide.
Our in-depth analysis of the global contract packaging market includes the following segments:
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By Packaging Type |
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By Material |
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By Application |
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North America Market Forecast
The North America region contract packaging market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be ascribed to the rising demand for beauty products, the increasing number of heterosexual men using make-up, increasing acquisitions and geographical expansions, and others. It was observed that the cosmetics segment in the United States reached around USD 18 billion in 2022 while the revenue generated per person was estimated to be about 50 U.S. dollars. Therefore, such factors are estimated to propel the growth of the market during the forecast period.
Jones Packaging Group to collaborate with California Pharmacists Association and becomes the first Canadian corporate partner. California Pharmacists Association is focused on promoting health and represents thousands of pharmacies.
Sonic Packaging Industries to make an announcement regarding its launch of a new system of Enterprise Resource Planning (ERP) system, NetSuite. This system is capable of supporting long-term growth strategy and increasing the work efficiency of the company.
Author Credits: Sadaf Naaz, Mohd Shadab
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