The recent “Europe Contract Packaging Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report
The report on the “Europe Contract Packaging Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.
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Europe Contract Packaging Market Analysis and Growth Forecast:
The Europe Contract Packaging market is expected to grow at a CAGR of 11.13% during the forecast period of 2020-2025. The European contract packaging market has shown a significant growth in the recent years owing to the rising demand, and changing preference of manufacturing firms toward contract packagers, the European contract packaging market is expected to witness a steady growth over the forecast period.
Key Companies Covered in the Europe Contract Packaging Market Research are Budelpack Poortvliet BV, Cygnia Logistics (Dalepak Ltd), Complete Co-Packing Services Ltd and among other key market players.
European companies are focusing on outsourcing their packaging requirements to contract packaging companies, with an aim to concentrate on their core businesses and reduce the operational costs, thereby, increasing the market penetration.
The consumer-packaged goods (CPG) vendors has been actively looking forward to vertically integrate to offer packaging solutions, including purchasing of raw materials and logistics, for standing out as a one-stop contract packaging solution providers. Nulogy, one of the providers of agile supply chain solutions for CPG brands, has mentioned that the changing shopping behavior of consumers is enabling the contract packers with more work.
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Furthermore, to reduce the operational costs, the category leaders in the packaging market are strongly relying on contract packaging . Moreover, these companies are also limiting their R&D investment leading to lesser product innovations in the packaging industry. PMMI have mentioned that over 40% of the best-selling new products are from the new entrants in the global packaging market.
Hence, the primary focus of the established packaging players toward outsourcing their operational/production activities is estimated to drive the market for contract packaging in and opens a wide area for product innovations in the domain.
Overall the market was positively impacted from the onset of COVID-19. This is due to an increase in demand of food and beverage, mainly in online and e-commerce sales. According to the German ecommerce association BEVH, online food retail sales grew 126.8% in April 2020 compared to the same time last year.
Key Market Trends
Secondary Packaging to Show Significant Growth
The rising need for physical and barrier protection, secondary containment, adherence to regulations, and safety has resulted in the increased adoption of the secondary packaging. The common types of secondary packaging include cardboard cartons, cardboard boxes and cardboard/plastic crates, bubble wrap, small inflatable air pillows, loose-fill, and labels.
Transportation of products to the point of sale requires secondary packaging. Secondary packaging performs the role of protecting not only the product, but also the primary packaging, and hence has become an important aspect of packaging.
As the secondary packaging involves a level of the packaging within it, it is the secondary packaging that the consumer gets to see first making secondary packaging of prime importance. This is propelling the players in the industry to outsource the packaging that enables them to increase the attractiveness of the product and henceforth attracts customers, thus, boosting the market growth over the forecast period.
As technology, e-commerce, marketing, and consumer preferences continue to evolve, effective contract packagers enable their users to balance form and function. This is expected to boost the adoption of the secondary contract packaging services in the region.
The increasing innovations in the secondary packaging, such as child-resistant (CR) cartons, tamper-evident (TE) cartons, and cold-chain packaging, temperature-controlled packaging, and many more, are expected to boost the adoption of the secondary contract packaging services.
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Food Packaging to Hold the Highest Market Share
The contract packaging industry serves diverse functions, furnishing solutions for FMCG across nearly every consumer sector, with the food industry being a major beneficiary. As a result, the packaging reflects a range of influences, from personal consumer preferences to larger economic forces, like free-market competition and mass marketing.
However, major food companies across the world are closing their facilities to reduce their capital expenditure. The food companies in Europe are under a lot of pressure to free cash and reduce costs, both of which can be done by co-manufacturing. A lot of consumer-packaged goods companies are expected to liberate operating cash to fund growth by outsourcing the responsibility of running manufacturing facilities across Europe.
The growth of the co-manufacturing market in food is inhibited due to the high reputational risk, as leading brands are unwilling to accept that they use the services of third-party manufacturers due to very high-quality concerns pertaining to food and beverages in the region.
However, some of the countries in the region, like the United Kingdom, are experiencing major growth in the use of co-packaging services in food, with the need for comprehensive solutions continually rising. Codex, a major contract manufacturer of the United Kingdom, recently invested GBP 2 million into its business to establish clean rooms and machinery to serve some of the leading confectioners in the region. The need for turnkey solutions, where some of the vendors have expressed the need for end-to-end solutions has led to co-packers, like Codex, establishing fully racked-out warehouse and distribution capabilities.
In collaboration with NOMI Co-Packing, Tony’s Chocolonely recently developed a paper doypack, especially for the bitesize Tiny Tony’s. The employment of Nomi packaging has ensured that Tony’s has to customize its packaging offerings, in the process of creating distinctive packaging for airport shops and out of home retail.
The Contract Packaging Market in Europe appears to be fragmented due to the presence of a large number of vendors. This industry research report offers information about the competitive environment among players in this market space. Major players include Budelpack Poortvliet BV, Cygnia Logistics (Dalepak Ltd), Complete Co-Packing Services Ltd among others.
December 2019- Boughey Distribution Ltd announced that one of its latest clients is Plenish Drinks. Part of the Plenish company, that also makes health drinks and milks, Plenish Drinks uses natural, plant-based ingredients in its products.
August 2019- NOMI Co-packing had rendered its support to Tony Chocolonely. In cooperation with NOMI Co-Packing, Tony’s Chocolonely has developed a unique paper doypack specially for the bitesize Tiny Tony’s. Not only better conditions for the cocoa farmers, but also a healthier environment are important to the company. The decision to use more environment-friendly packaging materials is a logical next step
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Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.
Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.
Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.
Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.
The Analysis Objectives of the Report are:
To determine the size of the Market by identifying its sub-segments.
To research the key players and analyze their growth strategies.
To assess the size and value of the Market based on key regions.
To analyze the Market in terms of growth trends, potential, and participation in the overall sector.
To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.
Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.
To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.
What is new in 2024?
– Major developments that can change the business landscape as well as market forecasts.
– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.
– Coverage of new market players and change in the market share of existing players of the market.
– Updated financial information and product portfolios of players operating in the market.
– Updated market developments of the profiled players.
– Any new data points/analysis (frameworks) which was not present in the previous version of the report
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