Pharmaceutical Contract Packaging Market Size, Share, Growth Analysis, By Type (Primary Packaging, Secondary Packaging), By Material (Plastics & Polymers, Paper & Paperboard), By Region - Industry Forecast 2024-2031

Global Pharmaceutical Contract Packaging Market size was valued at USD 5.65 billion in 2022 and is poised to grow from USD 6.11 billion in 2023 to USD 10.91 billion by 2031, growing at a CAGR of 7.51% during the forecast period (2024-2031).

Increasing demand for high-quality chemical packaging from contract packers in emerging markets, and outsourcing is expected to propel the market during in the forecast period. Pharmaceutical companies contract packaging services to reduce overall manufacturing costs. This is expected to contribute to the growth of the market during the forecast period. Furthermore, lack of in-house packaging materials, expertise and financial constraints are the major issues facing the small pharmaceutical companies in the industry. Contract packaging service providers is an effective way to address such small business issues due to the cost-effective service delivery.

Lack of resources and budgets has led many small pharmaceutical companies to form profitable relationships with contract packaging organizations (CPOs) and contract manufacturing. Furthermore, the growing pharmaceutical industry across the globe is expected to propel the market. As packaging outsourcing offers many advantages such as advanced packaging technology, focus on key areas, more efficient packaging and faster and better services, pharmaceutical companies are increasingly outsourcing packaging services to CPOs and CDMOs.