The global packaging testing services market is likely to reach US$ 33.4 Bn by the year 2029 at a CAGR of 12.6% between 2022 and 2029. Packaging testing provides assertions that packaging will protect products from damage during the transit. Growing retail trade with rising demand for packaged goods, growing number of eco-conscious consumers for sustainable packaging, stringent regulatory atmosphere, and technological innovation are some of the factors responsible for the growth of global packaging testing services market.
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The global packaging testing services market is anticipated to clock a remarkable CAGR of nearly 12.6% during 2022-2029. This astonishing growth is majorly driven by the penetration of the e-Commerce and food sector in developing markets such as China, Mexico, and India, and also technological advancements associated with packaging.
Key Takeaways from Packaging Testing Services Market Study
Introduction of New Standards & Regulations to Increase Sales of Equipment Used by Players Operating in Packaging Testing Services Market
One of the most upfront drivers in the packaging testing services industry is the introduction of new standards for package authentication. Numerous organizations have established international principles in the last few years that are sure to be trendsetters. 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), International Safe Transit Association (ISTA), International Organization for Standardization (ISO), and others. Solidification and continuous growth of the e-Commerce industry is increasing the demand for quality packaging and the introduction of new standards & regulations by international organizations, thereby resulting in the growth of global packaging testing services market.
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Competitive Landscape
The global Packaging testing services market is witnessing an influx of large number of players at the domestic as well as global level. The existing players are also engaging into mergers, acquisitions, partnerships, joint ventures, and new product launches to keep their brand image afloat.
Key Companies Profiled
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Key Segments Covered in Packaging Testing Services Industry Research
Packaging Testing Services Market by Testing Type:
Packaging Testing Services Market by Material:
Packaging Testing Services Market by End-user: