North America Flexible Packaging Market 2022 SWOT Analysis and Key Business Strategies by Leading Players – Amcor PLC, Mondi PLC, Transcontinental Inc., American Packaging Corporation

Latest research on North America Flexible Packaging Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2022 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the North America Flexible Packaging market. This report included a special section on the Impact of COVID19. Also, North America Flexible Packaging Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the North America Flexible Packaging industry.

The North American flexible packaging market was valued at USD 40.14 billion in 2020 and is expected to reach USD 48.39 billion by 2026 and grow at a CAGR of 3.16% over the forecast period (2021-2026). 

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The North America Flexible Packaging market is highly competitive and consists of a number of major players. Top Companies like Amcor PLC, Mondi PLC, Transcontinental Inc., American Packaging Corporation, Sit Group SpA, Toppan Printing Co. Ltd, Printpack Inc., Sigma Plastics Group Inc., Novolex Holdings Inc., Berry Global Inc., Sealed Air Corp., Tetra Pak International SA, Constantia Flexibles, Winpak Limited, Cascades Flexible Packaging, Emmerson Packaging, Covertech Flexible Packaging Inc., ProAmpac, Sonoco Products Co., St. Johns Packaging

Industry News And Developments:

- September 2019 - Amcor opened a packaging innovation center in New Albany (Ohio, the United States). The innovation center is supported by a cross-functional team of engineers, designers, and technical specialists who work with customers on their product concepts. This innovation center specializes in the home and personal care market, but its services are open to packaging customers across all Amcor segments.

- July 2018 - PPC Flexible Packaging, an Illinois-based consumer packaging company, invested over USD 2 million in upgrading its equipment and facilities, which is expected to positively impact the US market.

Scope of the Report

- Flexible packaging in North America is rising faster than many other forms. It includes trends, like e-commerce, digital printing, and sustainability, which can be used to drive market development and growth. Customers in the region are eager to pay more for certain product attributes boosted by flexible packaging. For instance, according to the Flexible Packaging Association, more than 60% of North American consumers are keen to pay more for tangible and functional packaging benefits, such as product protection, shipping friendly, and supply chain efficacy, among others.

- Customers in the region are willing to pay an additional amount for food stored in flexible packaging. For instance, more than 46% of Americans are willing to pay more for food and beverage products stored in flexible packaging than for food products kept in non-flexible packaging. Moreover, 71% of Americans said they may prefer flexible packaging over non-flexible packaging when asked to pick between flexible and non-flexible packaging for a product they consider purchasing (Flexible Packaging Association, 2017).

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Key Market Trends

The Increased Demand for Convenient Packaging by Millennial Customers may Drive the Market Growth

- The demand for flexible packaging products is generally driven by millennial customers in the region, as they have an ardent preference for single-serving and on-the-go style food and beverage foodstuffs. As these products are generally designed to be durable, portable, and lightweight, flexible packaging stands to be a famous option to pack such products. Firmest growing areas of snack foods, both in terms of processed foods and fresh items, are anticipated to govern the demand for flexible packaging from the food and beverage industry of the region.

United States is expected to Remain the Largest Market for Flexible Packaging

- The United States holds the key market share in the region due to the existence of established industries, like the pharmaceutical, food and beverage, etc. However, Canada is anticipated to witness a higher growth rate due to the growing adoption of these packaging techniques across numerous industries. Furthermore, the region has a flourishing retail industry that banks heavily on flexible packaging methods, being a global leader in the retail industry.

- For instance, according to the balance, in 2017, the US retail industry generated USD 1.14 trillion in value-added, which is 5.9% of US gross domestic product. The biggest category within retail is automotive (at USD 212 billion), grocery stores (at USD 167 billion), and general merchandise (at USD 161 billion). Internet retailing is the wildest growing segment. By 2020, it is projected to reach USD 523 billion, at a growth rate of 9.32% each year until then.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: North America Flexible Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

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