Global Packaging and Labeling Services Market Analysis 2024 – Estimated Market Size And Key Drivers

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The Packaging and Labeling Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Packaging and Labeling Services, The packaging and labeling services market size has grown strongly in recent years. It will grow from $47.12 billion in 2023 to $50.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to consumer goods demand, globalization and international trade, consumer preferences and branding, marketing and branding strategies, e-commerce growth..

The packaging and labeling services market size is expected to see strong growth in the next few years. It will grow to $65.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to sustainability initiatives, customization and personalization, emerging market trends, supply chain resilience, evolving consumer preferences.. Major trends in the forecast period include digital printing, anti-counterfeiting measures, regulatory compliance, supply chain resilience, brand storytelling through packaging.

The increasing demand for food and beverages is expected to propel the growth of the packaging and labeling service market going forward. Food and beverages refer to snacks, meals, drinks and other items that are intended for the consumption. Consumers are opting for healthier lifestyles after the COVID-19 pandemic which is increasing demand for packaged healthy foods and beverages. Packaging and labeling provide shelf existence and avoid contamination of food and beverage products. For instance, in February 2023, according to the Federal Reserve Economic Data, the economic data from US-based central banking system, personal food consumption expenditures increased from $1,310 billion in December 2022 to $1,315 billion in January 2023. Therefore, the rise in the demand for food and beverages is driving the growth of the packaging and labeling service market.

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The packaging and labeling services market covered in this report 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

Major companies operating in the packaging and labeling services market are focusing on innovative services such as carbon labeling services to drive revenues in their market. Carbon labeling services give organizations impartial confirmation and assurance so they may monitor and control their emissions, develop plans for reducing carbon emissions, and set goals for the future. For instance, in January 2021, Amcor Limited, a Switzerland-based packaging company launched, a carbon labeling service. The purpose of the carbon labels is to educate consumers about the influence that products have on climate change. Companies that can demonstrate that they have reduced the carbon footprint of a certain product by at least 20 percent are granted these labels. Through impartial carbon labeling from the Carbon Trust, the service assists brand owners in communicating the packaging’s decreased carbon footprint.

The packaging and labeling services market report table of contents includes: