Future Market Insights (FMI) forecasts the packaging testing market to exceed US$ 16,099.87 million in 2023, with a notable Compound Annual Growth Rate (CAGR) of 12.6% anticipated between 2023 and 2033. The market’s overall valuation is projected to escalate to US$ 52,748.03 million by 2033, underlining the substantial growth prospects in the packaging testing industry. This robust trajectory reflects the increasing importance placed on quality assurance and compliance within the packaging sector, as manufacturers seek to meet evolving industry standards and ensure the safety and efficacy of diverse packaging materials and products.
The surge in plastic packaging utilization, attributed to its lightweight properties, chemical and heat resistance, and effective barrier against water, oxygen, and carbon dioxide, is anticipated to drive a heightened demand for plastic packaging testing solutions throughout the assessment period.
As the Indian government consistently endeavors to expand pharmaceutical manufacturing capacity and enhance domestic drug protection, the burgeoning pharmaceutical industry, coupled with the increasing prevalence of chronic ailments in the population, is poised to drive a substantial demand for packaging testing. According to the India Brand Equity Foundation (IBEF) 2021 report, India fulfills approximately 50% of the global demand for various vaccines, caters to 40% of the generic demand in the United States, and supplies over 25% of total medicines in the United Kingdom. This rapid growth in the pharmaceutical sector has attracted leading market players to establish operational plants in India, further contributing to the industry’s dynamic evolution.
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Key Takeaways
- In 2023, the United States is expected to lead the packaging testing market, with a size of US$ 3,414 million and a CAGR of 10.3%.
- The packaging testing market was significantly expanding, with a size of US$ 14.25 billion in 2022.
- Market shows amazing opportunities due to the rising need for effective packaging designs, and expects a Y-o-Y growth of 13% in 2023.
- The market in China is anticipated to expand at an adequate CAGR of 19.8% by 2033.
- By 2033, Germany is likely to expand in the packaging testing market, with a size of US$ 3,411.86 million.
- Canada is anticipated to expand at an adequate CAGR of 7.7% by 2033.
- The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 12.1% by 2033.
- Based on the material type, plastic is likely to lead the market and expects a size of US$ 6,995 million in 2023.
- Based on the testing type, microbiological continues to dominate the sector during the forecast period, with a CAGR of 13.6%.
Key Players Supplying Packaging Testing are
- SGS SA
- Intertek Group Plc
- Bureau Veritas SA
- Eurofins Scientific SE
- ALS Limited
- TUV SUD AG
- Mérieux NutriSciences Corporation,
- Microbac Laboratories Inc.
- National Technical Systems Inc.
- EMSL Analytical Inc
- Institut fur Produktqualität GmbH
- Campden BRI
Recent Developments
- In Kazakhstan, SGS S.A. opened a brand-new hybrid commercial onsite geochemistry laboratory in 2020. By diversifying its offering of laboratory testing services, the company seeks to break into the chemical packaging market.
- In June 2022, Bureau Veritas purchased Advanced Testing Laboratories, a company that offers scientific sourcing services. ATL offers services like product validation, production, and packaging, in addition to research and development. The company’s footprint in North America is anticipated to grow as a result of the acquisition.
Material Type is Showcasing Maximum Growth in Packaging Testing Market
Plastic material is projected to dominate the packaging testing sector, contributing to more than 43.4% of the revenue share in 2023.
The anticipated Compound Annual Growth Rate (CAGR) of 11.6% is driven by the introduction of sustainable and biodegradable plastic packaging, coupled with the increased utilization of various plastic grades across diverse end-use industries.
Plastic packaging offers a multitude of advantages, safeguarding products from potential damage caused by weathering, microbes, insects, and light, particularly during transportation.
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Key segments
By Testing Type:
- Physical
- Chemical
- Microbiological
By Material Type:
- Plastic
- Paper and Paperboard
- Glass
- Wood and Others
By Packaging Application:
- Food and Beverages
- Healthcare
- Pharmaceuticals
- Medical Devices
- Chemical and Fertilizers
- Personal Care and Cosmetics
- Electrical and Electronics
- Automotive
- Industrial
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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