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The flexible packaging market share in North America is expected to increase by USD 14.41 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.66%.
This flexible packaging market in North America research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers flexible packaging market in North America segmentations by material (plastic, paper, and foil) and geography (the US, Canada, and Mexico). The flexible packaging market in North America report also offers information on several market vendors, including Amcor Plc, American Packaging Corp., Berry Global Inc., Bischof Klein SE and Co. KG, Bryce Corp., Constantia Flexibles Group GmbH, Coveris Management GmbH, Glenroy Inc., Hindalco Industries Ltd., Huhtamaki Oyj, Mondi plc, Novolex Holdings LLC, Printpack Inc., ProAmpac Intermediate Inc., Sealed Air Corp., Sonoco Products Co., The Tetra Laval Group, Transcontinental Inc., WestRock Co., and Winpak Ltd. among others.
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The rising demand for pouch packaging is notably driving the flexible packaging market growth in North America, although factors such as competition from rigid packaging may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the flexible packaging industry in North America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Flexible Packaging Market Driver in North America
The rising demand for pouch packaging is one of the key drivers supporting the flexible packaging market growth in North America. Value-added features such as re-seal ability and the incorporation of a spout are increasing demand for pouch packaging in various sectors, especially in baby food and beverage segments. It leads to a reduction in carbon emissions by reducing the pollution from transportation. This is because the compactness of pouch packages enables a larger quantity of products to be transported in a single truck than rigid and other types of packaging, thereby aiding manufacturers in minimizing the carbon footprint. The convenience that pouch packaging technology offers, as well as its low cost, are the driving factors for the pouch packaging market in North America. These factors are expected to drive the growth of the flexible packaging market in North America during the forecast period.
Key Flexible Packaging Market Trend in North America
Growing demand for micro packaging materials is one of the key flexible packaging market trends in North America that is contributing to the market growth. The emergence of new biochemical compounds has led to the need for enhanced protection. Micro packaging materials offer protection to these compounds against external elements, such as heat, moisture, oxygen, light, and mechanical forces. Thus, micro packaging materials such as nanocoating and nanocomposite-based packaging films are ideal for packaging pharmaceutical drugs. They offer various benefits, such as delaying oxidation, controlling microbial growth, and improving tamper visibility. These factors ensure that the drugs remain safe for a longer duration. Thus, the growing demand for micro packaging materials from the food and beverage and pharmaceutical industry in North America will have a positive impact on the growth of the market during the forecast period.
Key Flexible Packaging Market Challenge in North America
Competition from rigid packaging is one of the factors hindering the flexible packaging market growth in North America. The growing number of government initiatives regarding landfill reduction is expected to impact the percentage share of rigid packaging in the global packaging industry in the long run. One such example is the Federal Trade Commission Green Guides of 2012, which issues guidelines for the reduction of the overall number of landfills in North America. The commission had passed regional regulatory rules across North American countries, especially for landfill reduction from the food packaging industry. Thus, the growing market competition from rigid packaging can pose a threat to the market vendors offering flexible packaging materials. Such challenges can hamper the growth of the flexible packaging market in North America during the forecast period.
This flexible packaging market in North America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the flexible packaging market in North America as a part of the global metal and glass containers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the flexible packaging market in North America during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the flexible packaging market in North America encompasses successful business strategies deployed by the key vendors. The flexible packaging market in North America is fragmented and the vendors are deploying growth strategies such as product customization, product differentiation, and price differentiation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The flexible packaging market in North America forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the flexible packaging market in North America, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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The flexible packaging market share growth in North America by the plastic segment will be significant during the forecast period. The tobacco packaging segment in North America is expected to grow during the forecast period. In tobacco packaging, flexible plastic packaging products such as aluminum foils or paper laminates (for aroma retention), shrink and stretch films (for outer layer moisture protection), and laminated film pouches and bags (for resealable purposes) are commonly used. Therefore, the growth of the tobacco packaging segment in North America is expected to positively influence the growth of the flexible plastic packaging market in the region during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the flexible packaging market size in North America and actionable market insights on post COVID-19 impact on each segment.
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Flexible Packaging Market Scope in North America |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.66% |
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Market growth 2022-2026 |
$ 14.41 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.4 |
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Regional analysis |
North America |
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Key consumer countries |
US, Canada, and Mexico |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Amcor Plc, American Packaging Corp., Berry Global Inc., Bischof Klein SE and Co. KG, Bryce Corp., Constantia Flexibles Group GmbH, Coveris Management GmbH, Glenroy Inc., Hindalco Industries Ltd., Huhtamaki Oyj, Mondi plc, Novolex Holdings LLC, Printpack Inc., ProAmpac Intermediate Inc., Sealed Air Corp., Sonoco Products Co., The Tetra Laval Group, Transcontinental Inc., WestRock Co., and Winpak Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Material
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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