Recovery in consumer spending over the past five years has underpinned industry growth during the period. As US consumption has risen, manufacturers have expanded production, thereby increasing demand for industry services and increasing revenue. Over the five years to 2021, IBISWorld expects the industry to continue growing, albeit at a slower pace than the previous period. Organic growth in the economy, including increased consumer spending, will drive revenue growth. However, growth in demand drivers is not expected to be strong enough to cause high revenue growth values, and increased internalization of packaging by growing manufacturers may stymie revenue.
Industry operators primarily package client-owned materials on a contract or outsource basis and provide labeling and imprinting package services. The industry excludes activity related to the manufacture of packaging or labeling products.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.