Overview of the packaging market in North America

Market research analysts at Technavio predict that the packaging market in North America will grow steadily at a CAGR of around 6% by 2021. This market research analysis identifies the increasing requirement of convenient packaging from consumers as one of the primary growth factors for this market. Consumers are increasingly preferring convenient packing in items such as food, beverages, and toiletries that can be quickly and conveniently used without harming the quality of the product. Various packaging products such as microwavable products, zippered pouches, modified atmosphere packaging, and salad kits maintain the freshness of the food items and preserve the product's shelf life. Consumers are increasingly demanding packaging designs that offer convenience and portability. Hospitality sectors such as airlines, restaurants, and hospitals benefit from convenient packaging designs through easy food preparation and the maintenance of food quality and safety.

Technological advances in packaging techniques provide improved features such as product quality information and traceability and also ensures minimum damage to materials. Next generation packaging is increasingly demanded by the food and beverages industry since it increases the shelf life of perishable food products. Moreover, next generation packaging is also used across end-use applications in various sectors such as healthcare and pharmaceuticals, logistics and supply chain, and personal care. According to this market research report, this increasing adoption of next generation packing will be one of the key trends that will gain traction in the packaging market in North America during the next four years.

Competitive landscape and key vendors

The packaging market in North America is highly competitive and consists of numerous established vendors who focus on expanding their geographic reach in the region. The vendors realign their product offerings to reduce operational costs and this will help them remain competitive and strengthen their market positions by targeting high-growth segments. Vendors with strong resources develop innovative and high-quality products that can help recover R&D and commercialization costs. Vendors have the need to develop innovative technologies and be updated with the modern technologies to provide advanced products to the customers.

The leading vendors in the market are -

• American Packaging
• Amcor
• Bemis
• International Paper
• Mondi

The other prominent vendors in the market are Sonoco, Montebello Packaging, CTL Packaging, International Plastics, VisiPak, Alltub, Carolina Retail Packaging, Neopac, Protective Packaging Corp., Accredo Packaging, Container & Packaging Supply, and Transcendia.

Segmentation by material and analysis of the packaging market in North America

• Board Packaging
• Rigid Plastics Packaging
• Metal Packaging
• Flexible Packaging
• Glass Packaging

During 2016, the board packaging segment accounted for the major shares of the packaging market in North America. Various types of board packaging such as corrugated and paperboard are utilized by different end-user segments. The growing consumption of luxury goods, wine and spirits, and health and personal care products will increase the demand for premium folding cartons, subsequently contributing to the growth of the market in this segment.

Segmentation by end user and analysis of the packaging market in North America

• Food Packaging
• Beverage Packaging
• Healthcare Packaging
• Personal Care Packaging

The food packaging segment accounted for the major shares of the packaging market in North America during 2016. The changing consumer behavior and preferences for packaging that maintains the quality of food and increases the shelf life of the product will result in the growth of the market in this this segment. Moreover, the increased requirement for including a nutrition facts label on the package will also have a significant impact on the growth of the market in this end-user segment.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the packaging market in North America?
• What are the key market trends impacting the growth of the packaging market in North America?
• What are the challenges to market growth?
• Who are the key vendors in the packaging market in North America?
• What are the market opportunities and threats faced by the vendors in the packaging market in North America?
• What are the key outcomes of the five forces analysis of the packaging market in North America? 

Technavio also offers customization on reports based on specific client requirement.

There are many factors affecting the global packaging market such as an increase in the number of small households and a rise in urbanization. To help clients achieve sustainable growth in the global market landscape, our industry research experts at Technavio predict factors that play an imperative role in the growth of the overall transport and packaging industry. By studying the current market dynamics, our analysts have identified factors that will prove crucial to the growth of both global and regional market players.

To meet the client's specific business requirements, this upcoming market   research report on the packaging market in North America also considers the growth of other corresponding markets such as wrapping equipment market and green packaging market, which are predicted to grow at a CAGR of more than 6% and around 8% and during the period 2017 to 2021. Growing urbanization and high levels of disposable income have increased the consumption of food and dairy beverages. This, in turn, will increase the growth rate of the packaging market in North America during the next few years. With an extensive analysis of the multiple elements including the shift in customer preferences along with the overall market's performance, Technavio provides customized reports that help businesses identify new growth opportunities.

The upcoming report for the packaging market in North America also focuses on the major drivers, changing trends, along with the imminent challenges currently experienced by the transport and packaging industry. To present an overall view of the future direction of the packaging sector, this market study also offers intelligence into the changing competitive environment an covering array products offered by prominent suppliers and their presence across the globe.