Global Contract Packaging Market 2017-2021 – Growing e-commerce Industry is the Latest Trend

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The global contract packaging market to grow at a CAGR of 9.54% during the period 2017-2021.

The report covers the present scenario and the growth prospects of the global contract packaging market for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through the sales of contract packaging services for various sectors which include food and beverage, consumer goods, personal care, pharmaceutical, and others. The “others” segment includes furniture, apparel, and electrical household appliances. The report also includes a discussion of the key vendors operating in this market.

According to the report, one of the major drivers for this market is Technology implementations. With growing technological implementations in the global contract packaging market, the market is growing because of fast-paced solutions provided by companies. In August 2017, Surepharm Services, a Contract Manufacturing Organization, installed the Blister Express Center 300 (BEC 300) to enhance its productivity. It offers easy, quick, and reliable solutions to fulfil the packaging needs with minimum 10 medicines in varying pack sizes, besides enhancing the flexibility to meet the broad range of contracts. This machine features a three-dimensional (3D) format changeover in less than 30 minutes.

The latest trend gaining momentum in the market is Growing e-commerce industry. The rising Internet penetration and increasing trend of online buying will boost the global contract packaging market during the forecast period. This is because companies that are selling their products through the e-commerce platform lack in-house packaging facility. Therefore, they are bound to go with third-party packaging or contract packaging services.

Further, the report states that one of the major factors hindering the growth of this market is In-house packaging. The manufacturing companies are sometimes comfortable with having the control of the complete production cycle, beginning from production and culminating in the distribution of products. Additionally, contract packaging can be time-consuming as products are transported several times among manufacturers and packagers. Some other reasons that may encourage the use of in-house packaging are an unwillingness to share information with contract packagers, availability of in-house machinery and staff, and high switching costs in situations when the relation between manufacturer and packager does not go well.

Key vendors

  • Deufol
  • FedEx
  • Stamar Packaging
  • Unicep, Sonoco
  • Multi-Pack Solutions

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation By End-User

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers And Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/twhsdk/global_contract

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SOURCE Research and Markets

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