Contract Packaging Market to Reach a Valuation of ~US$ 56 Bn by 2027, Food and beverages segment dominate Contract packaging market.

Albany, NY -- (SBWire) -- 02/06/2020 --In recent times, the success rate of e-Commerce channels has become the yardstick to determine the growth potential of the contract packaging market. Numerous industries - food, cosmetics, pharmaceuticals, and agriculture - are progressively switching to online distribution channels to broaden their exposure in other parts of the world.

At the same time, co-packers, or market players, are hard-pressed to work on their time-efficiency and customization approach to improve the brand images of their clientele. However, the environmental implications of materials used for packaging could derail the contract packaging market from realizing its true revenue potential.

Analyzing the various growth determinants and impeders at a microscopic level, analysts at Transparency Market Research (TMR) foresee an above-average expansion pace of the contract packaging market, at an estimated CAGR of ~7% during 2019-2027.

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The TMR study finds that, in 2019, revenue from bottling services will account for ~32% of the market share, while the prominence of labelling will grow at a significant rate during the forecast period. Bottles remain the preferred choice of consumers, on account of the greater transparency offered by them, which implies that, players in the contract packaging market need to intensify their focus on bottling services. However, as labelling becomes a crucial marketing instrument, end users demand specific labelling on their products to disseminate proper brand information to consumers.

Besides this, as consumers begin to read the labels on food products and beverages, the food industry turns into a lucrative end user to target labelling and bottling services. While, the recent uptake in the online sales of cosmetics is projected to augur sustainable growth opportunities for the labelling segment.