Our take: Among the areas explored in the report are industry demographics, the rise of private equity, and consolidation trends... | -------------
For those in the contract packaging/contract manufacturing industry, the Contract Packaging Association’s recently released 2018 “State of the Industry Report” is something to celebrate.
According to the report, the market has been growing at an 11.9% CAGR for the past five years, an astonishing two- to four-times faster than the industries it supports.
By 2020, the CPCM market is forecast to break the $75 billion mark—a conservative number, notes the report—rising from $53.6 billion at year-end 2017.
“The 11.9-percent growth is on top of two decades of slightly in excess of double-digit growth,” says Carl Melville, COO of The Melville Group, whose firm conducted the study.
“We [CPCMs] are no longer an upstart industry. We’ve been growing at an incredibly fast rate for quite some time.”
The report is based on 100-question interviews with more than 120 CEOs and senior industry executives, with qualitative and quantitative primary and secondary research.
Of note, the report does not include private-label companies, except for those providing specific contract packaging services....
thumbnail courtesy of packworld.com