Industry revenue of “packaging and labelling services“ in the U.S. 2011-2023

The American packaging and labelling trends are rapidly evolving and pushing designers in multiple industries to innovate. In fact, this has been one of the major factors resulting in the packaging machinery manufacturing industry registering a seventy five percent growth between 2009 and 2017. Considering this trend, a growth of almost 50% during 2011-2017 came as no surprise in the packaging and labelling services industry that reached 8.5 billion U.S. dollars in 2017. However, the next few years are expected to bring new challenges and the growth is estimated to slow down to a CAGR of 3 percent to reach 10.2 billion U.S. Dollars by 2023.

Online sales driving protective packaging revenue

The packaging and labelling industry consists of multiple sectors including protective packaging, insulated packaging and cold chain packaging, among others. Interestingly, the robust growth of overall e-Commerce in the country is one of the main drivers of its protective packaging industry as well. According to the latest estimates by Statista, the market revenue of protective packaging in the U.S. will grow by approximately forty percent between 2018 and 2024.

Changing dietary habits catalyzes cold chain packaging demand

Rising obesity levels in the U.S. has prompted consumers to shift their dietary habits towards proteins, vitamins, minerals, good fats, etc. which are temperature sensitive and require cold chains for storing and transportation. Similarly, a growth in the country’s biopharmaceuticals, clinical trials & vaccines markets is also catalyzing the demand for cold chain packaging. In fact, Statista’s projection of an exponential growth of around one eighty seven percent between 2018 and 2025 in cold chain packaging is a testimony to the industry’s changing dynamics.

Industry revenue of “packaging and labelling services“ in the U.S. from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

The industry classification is based on the Naics 2017 - system in the U.S.. The industry “packaging and labeling services“ has the code “56191“.

Details on the methodology can be found here.

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