The global packaging testing services market was pegged at around US$ 13,527.2 million back in the year 2022. The new market analysis report, released by FMI, anticipates the market to expand at a CAGR of 9.7% from 2023 to 2033. By following this lucrative CAGR, the overall market is projected to grow from US$ 14,839.3 million in 2023 to US$ 37,452.4 million by 2033.
Throughout the past two decades, there has been a significant change in the packaging methods and shipment of consumable items. With a great emphasis on improving the shelf life of commodities to lower the expenses associated with damaged goods packaging testing services are gaining prominence. Due to this emphasis, there is a significant need for the establishment of firms providing efficient package testing services at global as well as regional levels.
Get our Sample Report to discover how recent industry developments, like https://www.futuremarketinsights.com/reports/sample/rep-gb-8685
Key Takeaways from the Packaging Testing Services Market Study Report
- The adoption of packaging testing services globally is projected to witness an absolute growth opportunity of US$ 22,613.1 million over the next ten years.
- Currently, countries in Europe together contribute nearly 29.6% of the global revenue generated by packaging testing services. Germany is the leading country in this respect and held a global market share of 6.1% in 2022.
- The demand for packaging testing services in the United Kingdom is growing at a significant rate than in any other country in Europe. The United Kingdom market is anticipated to witness an overwhelming growth rate of 3.1% over the forecast years.
- North America followed Europe in providing packaging testing services and contributed 24.2% to global revenue in 2022. However, in comparison to all other countries, the United States dominated the global market by acquiring 21.7% of the revenue share.
- China and India are projected to emerge as the leading regions by following CAGRs of 10.5% and 11.2% through 2033 respectively
Competitive Landscape for the Packaging Testing Services Market Players
In this market study, the competitive landscape is relatively strong, and regional packaging testing services concentration is modest in nature. However, rapid advancement and consolidation of the market are anticipated over the next years through mergers and collaborations.
It is anticipated that the rivalry could get intense in the next two to three years with the emergence of new market players. Long-standing players like Intertek, Eurofins, SGS, and Bureau Veritas, may continue their market dominance by providing cutting-edge solutions services to ratchet up the market rivalry.
Packaging Testing Services Market Landscape
- Institut fur Produktqualitat GmbH
- Campden BRI
- EMSL Analytical Inc.
- Microbac Laboratories, Inc.
- National Technical Systems, Inc.
- Mérieux NutriSciences Corporation
- ALS Limited
- TÜV SÜD AG
- Eurofins Scientific SE
- Intertek Group Plc.
- Bureau Veritas SA
- GS S.A.
Recent Developments by the Packaging Testing Services Providers
- The Advanced Testing Laboratory, which was mainly a supplier of scientific sourcing services, was purchased by Bureau Veritas Inc. in June 2022. It offered research and development, product qualification, production, and packaging like all services. Bureau Veritas anticipated that the purchase might aid in growing its market share in the United States and Canada.
- In July 2022, an additional Package Testing Lab was established by Eurofins Scientific SE. This new lab is expected to offer crucial testing assistance for the protective qualities and longevity of labels over packages. On top of that, the company’s service capabilities to clients are anticipated to be improved by this new unit in Lancaster, Pennsylvania.
- Packaging testing service providers in India were able to demonstrate their end-to-end commitment to sustainability starting in January 2020. It was possible through the innovative Total Sustainability Assurance program from Intertek Group plc, which offers an industry-leading, independent assurance solution.
Ready to Learn About Our Approach? Explore Our Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-11147
Key Segments Covered in Packaging Testing Services Industry Research
Packaging Testing Services Market by Testing Type:
- Physical
- Chemical
- Microbiological
Packaging Testing Services Market by Material:
- Plastic
- Paper & Paperboard
- Glass
- Metal
- Others
Packaging Testing Services Market by End-user:
- Food
- Beverages
- Healthcare
- Personal Care & Cosmetics
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube