Packaging and Labeling Services Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
11 Jul, 2023
The global packaging and labeling services market size is expected to grow from $44.26 billion in 2022 to $47.85 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global packaging and labeling services market size is expected to reach $60.89 billion in 2027 at a CAGR of 6.2%.
Global Packaging and Labeling Services Market Key Driver
The rising demand for food and drinks is likely to drive the packaging and labelling service industry forward. Snacks, meals, drinks, and other consumable products are referred to as food and beverages. Following the COVID-19 epidemic, consumers are choosing better lifestyles, which is driving demand for packaged healthy foods and beverages. Food and beverage packaging and labelling ensure shelf life and prevent contamination.
Get a sample of the global packaging and labeling services market reportGlobal Packaging and Labeling Services Market Segments
The global packaging and labeling services market is segmented:
1) By Packaging Type: Primary, Secondary
2) By Material Type: Bioplastic, Paper, Plastic
3) By End User: Healthcare, Pharmaceutical, Personal Care, Food And beverages, Transport And logistics, Automotive And Aerospace, Retail And E-Commerce
4) By Geography: The regions covered in the packaging and labeling services market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global packaging and labeling services market.
Major Packaging and Labeling Services Industry Players
3M Company, Amcor Plc., Bemis Company Inc., CCL Industries, E.I. du Pont de Nemours and Company, Gerresheimer AG, Owens Illinois Inc., Schott AG, Sonoco Products Company, WestRock Company, Case Mason Filling Inc., AmeriPac Inc., ELIS Packaging Solutions Inc., XPress 360, Action Pak Inc.
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Packaging and Labeling Services Market Overview
Packaging refers to designing and developing a container, wrapper, box, tube, plastic bottle, tetra pack, or tin for a product enclosing. It protects the product during distribution, storage, sale, and end-use. Labeling is present on the packaging in the written, electronic form which communicates the product and manufacturer details to the customers.
Packaging and Labeling Services Global Market Report 2023 provides data on the global packaging and labeling services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The packaging and labeling services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.