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Published Thu, Apr 7th 2022 CATEGORIES
Contract Packaging Market to Receive Overwhelming Hike in Revenues By 2026
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Contract Packaging Market to Reach a Valuation of ~US$ 56 Bn by 2027, Food and beverages segment dominates the Contract packaging market, Pharmaceutical companies are focusing on product capabilities rather than packaging, which is pushing them to opt for contract packaging.
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Transparency Market Research offers key market acumens of the global contract packaging market in its newly published report, which includes a global industry survey, share, growth, size, and trends, along with a forecast for 20212026. In terms of global revenue, the contract packaging market is anticipated to register growth at 6.6% CAGR during the forecast period, of which TMR provides a detailed analysis of lucrative growth opportunities in the contract packaging market report. Contract packers provide brands and manufacturers with better results in packaging and overall channel fulfillment. Contract packers are becoming key for distribution channels. Contract packaging companies are uniquely positioned in the value chain and can extend their offering to cater to the demand from endusers. Contract packaging companies offer services starting from creative packaging to last minute optimization.
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For instance, Coregistics, an Atlantabased Company acquired Cano Packaging Corporation to allow the company to better access and dominate POP packaging services. Contract packaging services ensure better integration, and management, and allows flexibility for manufacturers who are facing production postponement and other issues that can impact the overall cost of production. Contract packaging companies generally offer cost savings, relieve channel management issues, and are fullservice marketing fulfillment companies.
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The most significant trend shaping the contract packaging industry is moving from a tactical role to a strategic imperative for companies. Contract packers are now involved in strategic supply chain decisions such as vendor selection & qualification, as well as product development, formulation, and quality assurance. Moreover, contract packaging firms are adopting the Omnichannel distribution strategy that gains the attention of customers from both online and instore sales of products.
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Moreover, contract packaging companies are moving toward specialization, innovations, and valueadded services. These trends represent that the contract packaging industry is growing & contract packagers are arguably more important today than they were in past.
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Emerging Countries to Gain Maximum Ground
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Emerging countries in the Asia Pacific, such as China and India, are anticipated to have positive potential in the contract packaging market. China represents more than a quarter of the total market share, by value, of the contract packaging market. This can be accredited to increasing demand from processed food companies in the region. High manufacturing valueadded in China, which was around US$ 1.4 Trn in 2018 according to World Bank, can also be one of the factors boosting the contract packaging market growth in the region. However, the United States is expected to remain at the top due to a mature pharmaceutical sector as well as a growing manufacturing sector in the region.
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Product Innovations by Contract Packaging Manufacturers Companies that excel in offering smallsized packaging are likely opt for other sizes and technologies, similar to those who hold market share in a single location, and would enter mergers or acquisitions, which allow them to explore newer markets. In August 2021, Catalent Inc. announced that it has reached an agreement to acquire Bettera Holdings, LLC, a major manufacturer in the nutritional supplements market, for $1 Bn In February 2021, Catalent Inc. launched CosmoPod® Duo, a new dualchamber capsule for beauty and consumer health topical applications In October 2020, Catalent Inc. launched OptiGel® DR, a delayed/enteric release soft gel for pharmaceutical and nutraceutical applications Contract Packaging Market: Competition Landscape Key market players in the contract packaging market are focusing on strategic expansions and acquisitions to maintain their supremacy across the regions and eyeing lucrative growth offered by emerging markets: In June 2020, Jones Healthcare Group said that it would invest heavily in its packaging services offering in June 2020, which features a fully integrated twolane Uhlmann blister packaging process. As more complex pharmaceutical dosage forms and regimes evolve clinically and economically, the fully automated equipment is expected to boost the firm's capacity to manage demand surges and unique blister combinations. In May 2020, Quality Packaging Specialists International LLC sold a pharmaceutical packaging factory to Sharp (UDG Healthcare PLC) in May 2020. (QPSI). The 160,000squarefoot complex has received complete regulatory approval. It has 12 major manufacturing facilities and many secondary packaging lines to provide both primary and secondary pharmaceutical packaging services, such as bottling, blistering, vial labeling, medical device kitting, and serialization. Inquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=69032 Key players profiled in the report include Aaron Thomas Company, ReedLane, Inc., Jones Packaging, MultiPack Solutions, LLC, Sonoco Products Company, UniCep Packaging, Stamar Packaging Inc., and other smallscale contract packaging manufacturers. Global Contract Packaging Market Segmentation Contract Packaging Market by Product Type Bottles Bags & Pouches Sachets & Stickpacks Boxes & Cartons Blisters & Clamshells Vials & Ampoules Flow Wraps Others Contract Packaging Market by Service Bottling Bagging/Pouching
Lot/Batchyou & Date We use cookies to ensure getCoding the best experience on our website - change your settings Boxing & Cartoning Wrapping & Bund Labelling Clamshell & Blister Others
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Contract Packaging Market by Enduse Industry Food & Beverage Pharmaceuticals Cosmetics Agriculture Personal Care Contract Packaging Market by Region North America Latin America Europe Asia Pacific MEA TMR Latest News Publication: Hygiene Packaging Market The demand for hygiene products has increased considerably over the years. The rising demand for toilet rolls, folded tissues, napkins, kitchen rolls, diapers, surgical clothing, and others may bring expansive growth opportunities for the hygiene packaging market through the assessment period of 20202028. About Us Transparency Market Research (TMR) is a U.S based market Intelligence Company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forwardlooking insights to thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports. Contact Rohit Bhisey Transparency Market Research 90 State Street, Suite 700 Albany, NY 12207 Tel: +15186181030 USA Canada TollFree: 8665523453 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com
Contact information Mr. Rohit Bhisey Transparency Market Research (TMR) is a market intelligence Transparency Market company, providing global business information reports and Research services. Our exclusive blend of quantitative forecasting and State Tower, 90 State Street, trends analysis provides forwardlooking insight for thousands Suite 700, of decision makers. United States Albany 12207 +91 8600924083 http://www.transparencymarketresearch.com/
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