PAC Worldwide, which is engaged in the development and manufacturing of customized packaging and contract packaging solutions, has expanded contract packaging and fulfillment operations.
Leveraging years of experience in supplying its Fortune 500-dominated customer base with a full line of contract packaging solutions, PAC Worldwide has embarked on a major expansion of its CoPAC division.
The initiative, which targets companies looking for relief from inefficient and burdensome internal packaging and fulfillment, will be led by newly named CoPAC President Lance Fletcher.
With the announcement comes a move into an expansive production facility in Sharonville, Ohio, just north of Cincinnati. At some 216,000 square feet, it's over four times larger than the former location in nearby Monroe.
CoPAC will offer a complete set of contract packaging and fulfillment services, including point-of-purchase displays, kitting, blister packaging, shrink-wrap and banding, warehouse/pick & pack services, distribution, inventory management and more. Its end-to-end solutions model enables the company to take a customer's concept from initial idea all the way to market, including structural and package design.
The new facility includes more than 11,000 rack spaces, 22 dock doors, and an array of automated contract packaging equipment that will support greater efficiency and integrated quality processes. CoPAC's 55-person team will initially staff the operation, with the ability to add an additional work force of up to 300 contract employees, if needed.
Surging customer demand helped influence PAC Worldwide to expand its wholly owned subsidiary. That momentum, along with proximity to many large consumer packaged goods companies, create significant economic tail winds for CoPAC as it positions itself to grab a bigger slice of a growing global market.
A recently released forecast from respected research firm Research and Markets pegged the compound annual growth rate for contract packaging at 9.54% thru 2021. Much of that demand stems from the explosion in e-commerce, with a number of major companies either lacking internal capabilities or strategically opting for third-party solutions.
In retail alone, an estimated $13 billion in global retail e-commerce packaging volume was generated in 2017, according to market intelligence firm Future Market Insights. That valuation is projected to reach $21.4 billion by the end of 2026.
CoPAC president Fletcher said: "We see tremendous opportunities across all key market segments, including manufacturers, distributors, suppliers, retailers, and specialty markets. With more than 200 years of collective experience in the contract packaging space, our management team is uniquely qualified to bring an integrated solution to customer packaging needs that offers more efficiency – and profitability."