The North American flexible packaging market was assessed at USD 39.82 billion in 2023 and the regional market is predicted to grow at a CAGR of 3.16% from 2024 to 2029. The North American market size is expected to be worth USD 47.99 billion by 2028 from USD 41.08 billion in 2024.
Flexible packaging is one of the most unmistakable packaging strategies utilized by significant merchants over various scopes of end-client verticals, inferable from its quality, for example, ascending in shelf life. Mechanical advancement, manageability concerns, and appealing financial matters are among the explanations behind the momentous development of flexible packaging in the United States over the most recent two decades.
The interest in flexible packaging items is commonly determined by millennial clients in the region, as they have a passionate inclination toward single-serving and fast-style food and refreshment groceries. As these items are commonly intended to be tough, convenient, and lightweight, flexible packaging stands to be a well-known alternative to pack such items. The Firmest developing territories of snack foods, both as far as processed food sources and new products, are foreseen to oversee the interest in flexible packaging from the food and refreshment industry of the region.
Additionally, the propelled packaging styles, for example, collapsible/reusable pouches and bag-in-box, among others, are raising the utilization of flexible packaging in blend with inflexible packaging designs. Items, for example, pouches, liners, bags, and shrink wraps, are opening a broad scope of new applications to the flexible packaging market in the region. Furthermore, the union of the online business part in the region is foreseen to make flexible packaging one of the rapidly developing packaging approaches over the gauge time frame.
As the packaging sector experiences a considerable fall in production, the flexible packaging market is likely to see a mild decrease in growth rate in 2020-2021. During COVID-19, however, there appears to be a rise in demand for flexible packaging for food, beverage, and pharmaceutical applications for product packaging. Due to the threat of lockdowns, people are resorting to panic buying and bulk stocking. More individuals are ordering daily essentials and fresh food via the internet, resulting in a demand for flexible plastic packaging. Significant businesses in the fast-moving consumer goods industry are responding by requesting more flexible plastic packaging. Food and beverage, cosmetics, industrial, and personal care products all use flexible packaging. By 2021, online grocery sales in the United States are estimated to account for 12.4% of all e-commerce sales.
Many consumers turned to online grocery purchasing during and after the lockout, and this tendency is expected to continue. Because of a lack of resources in various parts of the world, the COVID-19 outbreak has had a detrimental influence on the manufacturing and industrial industries. Top firms in the business are worried about the market's future and are reconsidering their tactics to face the challenge. The companies are using various techniques to increase production volume. They attempt to develop innovative solutions at an affordable price that can meet customer requirements at a lower cost while also supporting the overall breakthrough required for increased fragrance product penetration and sustainability. One of the reasons to boost the flexible packaging market throughout the forecast period is increased public awareness about health risks. Moreover, because of the coronavirus outbreak, more people use sterilizing products, fuelling demand for the entire sector.
Plastics
The plastics section incorporates polymers, accounting for over 70% of the North American market share in 2022. Key advantages, for example, lightweight, minimal effort, high solidarity to weight proportion, and recyclable properties, have increased the material interest. Likewise, polymers' capacity to guarantee item uprightness will complement the fragment development for the forecast period.
The Stand-up pouches segment is estimated to register a 6% CAGR between 2023 and 2028. Key perspectives, such as auxiliary and useful solidness, availability, and prevalent insurance against fume, dampness, and irritation, promote segmental growth. Solid visual shelf appeal and ease are foreseen to fuel the item reception rate among producers and end clients.
The food and beverage segment is expected to hold an occupancy of 55% of the North American market by the end of the forecast period. Developing interest in bundles that guarantee supplement and flavor stronghold will bolster fragment development for the anticipated period.
In North America, the disposal of guidelines that confined the foundation of new assembling units by the legislature of Mexico has brought about the advancement of new assembling offices, including Takeda, Daiichi Ranbaxy, and Astellas. This administration technique has assumed a significant job in driving the household pharmaceutical industry, which thus is foreseen to fuel item requests over the estimated time frame.
Companies such as Amcor Limited, Bemis Company Inc., Constantia Flexibles Group GmbH, Sealed Air Corporation, Huhtamäki Oyj, Coveris Holdings S.A., Sonoco Products Company, Berry Plastics Group Inc., Mondi Group, and Reynolds Group Holdings are playing a dominating role in the North American flexible packaging market.
In September 2019, Amcor opened a packaging advancement focus in New Albany, Ohio. The Innovation Center is upheld by a cross-useful group of architects, originators, and specialized masters who work with clients on their item ideas. This has practical experience in the home and personal care market; however, its administrations are available to packaging clients over all the sections that Amcor serves.
In July 2018, PPC Flexible Packaging, an Illinois-based shopper packaging organization, put over USD 2 million in updating its hardware and offices, which is relied upon to decidedly affect the United States market.
Frequently Asked Questions
The United States and Canada are the primary contributors to the North American flexible packaging market.
The food and beverage industry, followed by healthcare and personal care, are the major drivers of flexible packaging demand in North America.
North America holds a significant share in the global flexible packaging market, ranking among the top regions in terms of market size.
Regulatory compliance, fluctuating raw material prices, and concerns related to plastic waste management are some of the challenges faced by the industry.
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