rising demand for pouch packaging is driving the Flexible Packaging Market in North America
Technavio analyzes that the Flexible Packaging Market in North America is expected to grow at a CAGR of 4.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 12040.9 million.There are various factors that contribute to the growth of the market. The Flexible Packaging Market in North America is experiencing significant growth due to the increasing demand for pouch packaging. This trend is driven by the convenience, portability, and extended shelf life that pouch packaging offers. Brands across various industries, including food and beverage, pharmaceuticals, and household chemicals, are turning to flexible pouch solutions to meet consumer preferences for on-the-go convenience and reduced waste. The market is expected to continue its upward trajectory as more companies adopt this innovative and sustainable packaging format.
The plastic segment is a significant contributor to the flexible packaging market in North America, underpinned by its inherent advantages, including versatility, lightweight properties, and cost-effectiveness. Key plastics, such as polyethylene (PE), polypropylene (PP), and polyethylene terephthalate (PET), dominate this segment due to their superior durability, barrier properties, and adaptability in packaging applications. The market's expansion in North America is driven by the burgeoning demand from sectors like food and beverages, pharmaceuticals, and personal care. In the food sector, flexible plastic packaging offers benefits such as extended shelf life, reduced food waste, and enhanced portability. Meanwhile, the pharmaceutical industry leverages plastic packaging for secure, tamper-evident, and sterile product containment. Bioplastics, film, aluminum foil, pouches, bags, and wraps are other essential components of the flexible packaging market in North America, catering to the diverse needs of various industries.
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Flexible Packaging Market in North America Segmentation
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The Flexible Packaging Market in North America is witnessing significant growth, driven by industries such as personal care and consumer goods. Plastics, including polypropylene, dominate the market, but paper and metals are also key players. Recycling and bioplastics are trending, reducing food wastage and extending food shelf life. Pouches, bags, films, and wraps in forms of stand-up pouches, paperboard, and bag-in-box are popular. Aluminum foil, glass, and cartons, including Tetra packs and biodegradable films, are also used for non-food products and electronics. Smart packaging, such as cartons and pouches, enhances product safety and consumer convenience. Cosmetics and other consumer goods are major applications for this versatile packaging.
In the North American flexible packaging market, the personal care industry represents a significant segment, with various materials, including plastic, paper, and metals, dominating the landscape. The supply chain for this market is intricate, encompassing raw material suppliers and providers of container raw materials, such as steel, aluminum, tin for metal containers; borosilicate, neutral glass, soda-lime-silica glass, treated soda-lime glass, de-alkalized soda-lime glass, and regular soda-lime glass for glass containers; and high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC) for plastic containers. The manufacturing process involves research and development, large-scale production, and distribution through multiple channels to end-users. Recycling initiatives and the adoption of smart packaging and inventory management systems further add complexity to this dynamic market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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