Based on the earlier market reports, the net worth of total demand for packaging testing services globally in the year 2018 was US$ 9,816.4 million. During the period from 2018 to 2022, the overall market witnessed an annual growth rate of 8.3%. According to the new market survey report, the net valuation reached up to US$ 13,527.7 million.
The outbreak of Covid-19 bolstered the packaging testing services market, as partial/total lockdowns compelled the end customers to go for parcel services. This called for proper packaging. Almost every sector has its online/offline delivery services available. The pharmaceuticals vertical grew by leaps and bounds at the peak of Covid-19 as well as after 2021.
No prizes for guessing that the vertical is being driven by continuous innovations in medicine. End customers have even started ordering their daily doses of medicine online. The consumer goods vertical is also now full-on with packaging. This goes to prove that packaging testing services could not be stopped anytime soon in the future.
Packaging testing provides assertions that packaging might protect products from damage during transit. Some of the factors responsible for the growth of the global packaging testing services market include:
Growing retail trade with rising demand for packaged goods
An increasing number of eco-conscious consumers for sustainable packaging
Stringent regulatory atmosphere, and technological innovation
The global packaging testing services market is anticipated to clock a remarkable CAGR of 9.7% from the forecast period 2023 to 2033. This astounding growth is significantly driven by the penetration of the e-Commerce and food sector in developing markets such as China, Mexico, and India and technological advancement associated with packaging.
What is primarily driving the Packaging Testing Services Market?
Introduction of New-Fangled Standards to be the Driver
The significant driver of the packaging testing services industry is the introduction of new standards for package authentication. Numerous organizations that are sure to be trendsetters have established international principles in the last few years. These standards aim to have ever-expanding cargo and product safety, and different packaging test methods are defined in this regard.
There is a long list of standards in the packaging testing services market developed by various organizations such as:
· The American Society for Testing and Materials (ASTM)
· The International Safe Transit Association (ISTA)
· The International Organization for Standardization (ISO)
The solidification and continuous growth of the e-Commerce industry are accelerating the demand for quality packaging thereby, resulting in the growth of the packaging testing services market.
Country-wise Insights
Europe Gets the Upper Hand over North America in Demand for Packaging Testing Services
North America and Europe are onto a substantial market share due to the United States and Germany witnessing the growing adoption of advanced packaging testing services. However, countries in Europe hold significant market share in all sectors, particularly in the food & beverage sector and pharmaceuticals.
Emerging Economies in Asia Pacific have Substantially Increased the Adoption of Packaging Testing Services Recently
Asia Pacific is poised to grow unabatedly in the packaging testing services market with India, China, and Japan leading from the front. These factors are likely to put Asia Pacific on the topmost pedestal in the packaging testing services market in the forecast period.
With India being home to hordes of festivals, festive packaging services are in dire need of packaging testing services. Japan is also a leading exporter of its custom-made goods.
In India, the ongoing trend is that of ordering ready-to-eat food. Medicines are also being ordered online. These activities require safe and robust packaging. To ascertain these, packaging testing services are direly needed.
Competitive Landscape
The global Packaging testing services market is witnessing an influx of a large number of players at the domestic as well as global level. The existing players are also engaging in mergers, acquisitions, partnerships, joint ventures, and new product launches to keep their brand image afloat.
DDL, in April 2019, announced the rebranding of Cryopak Testing Center (a 6K sq. ft. independent laboratory stationed at Edison, NJ) as a DDL testing laboratory. It makes way for package testing across distribution simulation, environmental conditioning, thermal performance, strength and integrity testing, and shelf-life testing.
Recent Developments by the Packaging Testing Services Providers
Nefab and Northlink, created a 50/50 joint venture in June 2022 to develop a comprehensive packaging and logistics solution for the market in northern Sweden. The joint venture is a tactical investment made by Nefab and Northlink, a top 3PL services provider, to increase its presence and client base. It is anticipated to open up many prospects for the firm to expand its package testing division in Northern Sweden.
Inpac Medizintechnik GmbH, a German provider of packing, cleaning, and sterilizing services, was bought by Eurofins Medical Device Testing in March 2022. This purchase is anticipated to enhance Eurofins’ current lab network capabilities after this addition of packing, cleaning, transport, and sterilization services,
These insights are based on a report Packaging Testing Services Market by Future Market Insights.
