The present scenario (with the base year being 2017) and the growth prospects of global Contract Packaging market for 2018-2023.Contract packaging is a packaging and labeling services can be used for many types of productsincluding foods, pharmaceuticals, household products, and industrial products.
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The global Contract Packaging Market is estimated to be valued at US$55.27 Bn in 2021 and is expected to reach growth, exhibiting a CAGR of 10.37% over the forecast period. Contract packaging refers to the outsourcing of product packaging and related activities to third-party companies. This allows businesses to focus on core competencies while benefiting from specialized packaging expertise, agility, and cost-effectiveness.
The Contract Packaging Market is estimated to be valued at US$ 66.37 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Contract packaging refers to outsourcing of packaging related functions and services to specialized packaging companies. Contract packaging ... Read more
Contract packaging has become an integral part of the supply chain operations for many companies across industries. With changing consumer demands and preferences, companies are increasingly relying on third-party partners to provide flexible packaging solutions.
Growth of the Industry
The contract packaging industry has witnessed significant growth over the past decade, driven by various factors. With an estimated worth of over $50 billion globally, contract packaging now ... Read more
