Watch "Contract Packaging Growth Through 2025," from PACK EXPO Connects. “Our industry has been around a long time, and it’s continuing to experience double-digit growth,” says Melville. That number is slightly down from the 11.9% projection made in the last report (2017/2018), but still twice the rate of those industries it serves. After a very brief pause, it has come roaring back.”Īccording to the report, the CP/CM industry is forecast to grow at a 10.2% CAGR through 2025 to reach $121 billion in revenue, up from $67.5 billion in 2019. “In spite of probably the biggest shock to our economy, certainly since the Great Depression, our industry has done phenomenally. “This is a great time to be in our industry,” says Melville. In fact, it’s bounding forward at a growth rate that’s “rarely seen outside a Petri dish.” That’s according to Carl Melville, COO of The Melville Group, whose firm produced the recently released sixth edition of CPA, The Association for Contract Packagers and Manufacturers’ State of the Industry Report. Despite the colossal challenges faced by businesses resulting from the COVID-19 pandemic, the contract packaging/contract manufacturing (CP/CM) industry in North America is one market that met those challenges and is alive and kicking.
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