$12.7bn
$XXX.Xm
58,292
10,719
$X.Xbn
Revenue for the Packaging and Labeling Services industry fluctuates with consumer spending, as service providers earn most of their revenue from contract package and labeling services provided to fast-moving consumer goods (FMCG) and pharmaceutical product manufacturers. As US consumption has risen for most of the period, manufacturers have expanded production, increasing the number of products that need to be packaged and thus boosting demand for the industry. Overall, industry revenue is anticipated to have increased an annualized 4.4% to $12.7 billion over the past five years. In 2023, revenue is anticipated to rise 3.3%.
Industry revenue has grown at a CAGR of 4.3 % over the past five years, to reach an estimated $12.7bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Cascades Inc. | 2,435.5 | 84.8 | 3.5 | |
Hearthside Food Solutions, Llc | 249.1 | 16.2 | 6.5 | |
Sorin Group SpA | 186.6 | 5.2 | 2.8 |
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Industry revenue is measured across several distinct product and services lines, including Packaging services, Labeling services and Assembly and fulfillment services. Packaging services is the largest segment of the Packaging & Labeling Services in the US.
Packaging and labeling services are the primary source of demand
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.
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NAICS 56191 - Packaging & Labeling Services in the US
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Packaging and labeling service providers set up shop in proximity to downstream markets. Proximity to downstream customers enables operators to manage their relationship with...
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Packaging and labeling providers that cater to pharmaceutical manufacturers require different facility infrastructure than a company that caters to natural food producers.
Learn about the performance of the top companies in the industry.
The diverse range of downstream markets the industry serves prevents any company from dominating. Many operators specialize in providing packaging and labeling services for o...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Changes in FDA regulations stimulate demand for packaging and labeling services.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
High purchase costs inhibit more significant profit growth. Packaging and labeling service providers are often beholden to the price of materials suppliers give.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Packaging & Labeling Services in the US industry in United States is $12.7bn in 2024.
There are 10,719 businesses in the Packaging & Labeling Services in the US industry in United States, which has declined at a CAGR of 0.5 % between 2018 and 2023.
The market size of the Packaging & Labeling Services in the US industry in United States has been growing at a CAGR of 4.3 % between 2018 and 2023.
Over the next five years, the Packaging & Labeling Services in the US industry in United States is expected to grow.
The biggest companies operating in the Packaging & Labeling Services market in United States are Cascades Inc., Hearthside Food Solutions, Llc and Sorin Group SpA
Labeling services and Packaging services are part of the Packaging & Labeling Services in the US industry.
The company holding the most market share in United States is Cascades Inc..
The level of competition is high and steady in the Packaging & Labeling Services in the US industry in United States.