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Contract Packaging Market Shifts Gear Towards Progress With a 7.0% CAGR and Rise in E-commerce, Notes TMR
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Rising demand for adoption of 3D technology presents a major challenge for players in the contract packaging market. The technology is widely touted as the next-big thing, and promises opportunities for high-brand packaging unlike any other. However, the potential of the technology is yet untested. Contract players face an uncertainty in investment due to high costs of adoption, and low contract terms in general.
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The contract packaging market will register significant growth in Asia pacific, thanks to rising disposable income, and large population in the region. The changing lifestyle in the region, and growing access to healthcare will also drive growth for the cosmetic, and pharmaceutical industry in near future.
The contract packaging market will register more than average growth in North America , and Europe , despite growing regulatory challenges. The rising demand for food and beverages, and promising economic growth in North America will drive major gains for players in the contract packaging market. Rising demand for wearable gadget technology will also be a major driver in the region.
The competition in the contract packaging market globally remains robust, and scaling up promises the biggest opportunity for players during 2019-2029. This is expected to result in major acquisitions, and expansion in new regions during the forecast period. Some key players in the contract packaging market AmeriPac, Aaron Thomas Company, UniCep Packaging, Reed-Lane, Inc., Jones Packaging, Stamar Packaging Inc., Multi-Pack Solutions LLC., Pharma tech industries, Sonoco Products Company.
Packaging Industry
Cosmetic and Perfume Glass Packaging Market – Cosmetic and Perfume Glass Packaging Market is expected to reach a value of ~US$ 7.2 Bn by 2027, Cosmetic and Perfume Glass Packaging Market driven by rising consumer expenditure on beauty treatments industry
Flexible Packaging Market – The global flexible packaging market is projected to expand at a CAGR of ~5% during the forecast period, due to several factors, about which, TMR offers detailed insights and forecast in this report.
Rigid Packaging Market – The demand in the global rigid packaging market has been increasing in past few years. One of the important factors behind this increasing demand is because of the advancements in sector of consumer goods manufacturing.
Underfill Material Market – The Asia Pacific region is a highly lucrative market for players offering underfill material, as it is a noteworthy manufacturing hub. The growing interest in smartphones and automotive MCUs boosts the growth of the underfill market in this region.
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