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Global Co-Packing Market Expected to Grow 8% Through 2022

New market research attributes growth in rapid growth of the global consumer goods manufacturing market in both developed and developing countries.

Technavio Global Outlook for Contract Packaging
A new study from Technavio estimates the global contract packaging market will grow 8% through 2022.

The global consumer goods contract packaging market is expected to grow at a CAGR of close to 8% during the period 2018-2022. That’s according to a new market research study by Technavio, which attributes this increase to the rapid growth of the global consumer goods manufacturing market in both developed and developing countries.

In 2016, China and the U.S. were the leading countries in the global Consumer Packaged Goods market, followed by the U.K., Japan, and Canada. Notes the report, the increasing adoption of sustainable technologies and rising foreign direct investment (FDI) are the key reasons for the rapid growth of the global consumer goods manufacturing industries.

Says a Technavio senior analyst for packaging research, “The increase in R&D investment in global consumer goods manufacturing will increase the volume of consumer products in the market. The rise in FDI in consumer goods manufacturing will attract new players to enter the market. The new player entry in consumer goods manufacturing will increase the production volume in the global consumer goods manufacturing market.”

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