North America Package Testing Market – By Primary Packaging Material, Packaging Services, Countries And Vendors – Forecasts, Trends And Shares (2015- 2020)
North America is the leader of the market for packaging. It accounts for more than 30% of the market and it is still growing. Packaging has a huge market in North America because of its culture of e-commerce and packed food.
During the financial crisis there was a lot of uncertainty regarding the market by the investors and consumers. The retail markets were hit pretty hard by the lesser disposable incomes of the consumers. As the unemployment rate grew up so did the retail market go down.
The markets have improved now, with the USA GDP increasing by 4.2% in the second quarter of 2014. With the financial stability coming in, the unemployment rate also has also gone down. So the consumers are having more disposable income to spend. This has helped the retail market in the North America region. This has helped the package testing market because all types of packaging needs to be tested to ensure that the package remains safe during the transportation. The packaging testing market will ensure that the packaging is up to the international standards.
Consumers are now more informative than before. They are now demanding products which have better shelf life, meets regulations and norms set by different government agencies and have been procured ethically. Packaging and labelling helps increases consumer’s confidence in the product and increases the brand value of the company.
A business is no more entirely dependent on a country or a region. Deals are being signed across the continents and products are being sold in different regions. For such products to be transported and meet the requirements for sales, it is necessary packaging is robust and follows certain parameters set by different agencies. Package Testing companies test different packaging products by doing several tests on products like drop test, shock test, vibration test, shelf life testing to name a few. Only when a package passes through these tests, it is allowed to be shipped or used for commercial use.
The major concerns with this market are that the economy is still sluggish. Still thousands of people are unemployed. USA Government foresees the growth to start by 2016.
The investors should not be bumped by these concerns because new companies like Alibaba are going to invest in the American markets. So the investments into this region have started growing with companies from Asia Pacific and European region looking to expand its Northern American operations.
The market for package testing is still in growth stage. Though companies have their own testing labs, there are enterprises which provide package testing services. Some of the major companies in package testing are DDL, Intertek, SGS, CSZ Testing Services Laboratories, CRYOPAK, Advance Packaging, Nefab, National Technical Systems, Turner Packaging and Caskadetek.
Reasons to buy this report
1) Report gives complete market insights, the driving forces of the market, the challenges market faces, and overview of different packaging testing technologies and their applications
2) It gives market trends of type of package testing technology
3) A complete market breakdown has been done by different countries to give a detailed picture of the market in that particular region
4) The report also gives information of major enterprises providing package testing services, their existing share in the market, strategies they adopt along with the major testing services, financials, recent developments and profile of these vendors.
Who should be interested in this report?
1) Vendors who are into testing of different packaging products as they can get an overview of what competitors are doing and also which markets they can look forward to expand their operations
2) Manufactures in need of better understanding of different testing methods and companies which are providing such services