Global Contract Packaging and Fulfillment Service Market is expected to grow at a CAGR of 12.0% during 2019-2027.
Some of the key players profiled in the Contract Packaging and Fulfillment Service Market include Wasdell Packaging Group, ActionPak Inc., Swan Packaging Fulfillment, Inc., Assemblies Unlimited, Inc., Sharp (UDG Healthcare plc), PAC Worldwide, Inc., Multi-Pac Solutions LLC, Kane Logistics, Harke Packserv GMBH (HARKE GROUP), FW Logistics, Budelpack Poortvliet B.V, AmeriPac Inc, Sonoco Products Company, Aaron Thomas Company, Inc., and Warren Industries, Inc.
Changing the preference of manufacturing firms toward contract packagers and mandating stringent laws and regulations on the labelling and packaging of the drugs and food products by governments are some of the factors propelling the growth of the market. However, the increase in the price of elastomer raw materials used for contract packaging components is hampering the growth of the market.
Contract packaging is the procedure of assembling products or goods into their final finished packaging. A fulfilment service is a third-party warehouse that helps other companies in preparing and shipping their orders.
Based on the end-user, the pharmaceutical segment is anticipated to hold considerable market share during the forecast period due to the growth in advancement and research in the pharmaceutical industry which has resulted in the introduction of new drugs, with greater performance compared to their predecessors.
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By geography, North America is expected to grow at a significant market share during the forecast period owing to the increasing demand for packaging in various sectors, rising demand, and changing the preference of manufacturing firms toward contract packagers.
Service Types Covered:
• Package Testing
• Warehousing & Fulfilment
• Packaging Design & Prototyping
End Users Covered:
• Household & Personal Care
• Food and Beverage
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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