North America Flexible Packaging Market 2023, Worth US$ 55.8 Billion by 2028
The latest report by IMARC Group, titled “North America Flexible Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the North America flexible packaging market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The North America flexible packaging market size reached US$ 45.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 55.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028.
Flexible packaging protects products from ultraviolet (UV) rays, mold, moisture, dust, and other environmental contaminants while extending their shelf life and maintaining quality. It is made using various materials, such as plastics, foil, and paper, and is widely available in the form of bags, pouches, seals, wraps, lids, labels, high-barrier films, etc. Flexible packaging consists of easy molding packets that have no rigid structure. In addition, these packing solutions have aroma retention and barrier properties and come in re-sealable packs, which make them suitable for sealing moisture-sensitive products. As a result, flexible packaging finds widespread applications in food and beverages, non-food and consumer products, pharmaceuticals, etc.
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Market Trends and Drivers:
The escalating demand for this solution in consumer and institutional items and industrial applications to market, protect, and distribute several products and the expanding food processing industry, owing to the rising population, the inflating income levels, and the shifting dietary patterns, are among the primary factors driving the North America flexible packaging market. Besides this, the elevating requirement for this method, as it offers various benefits, such as light-weight, ease of opening, carrying, storing, and resealing, and several customization options which add to the aesthetic appeal of products, is further augmenting the market growth. Moreover, the growing popularity of flexible packaging among consumers, as it is a cost-effective alternative for storage issues, minimizes product wastage, and keeps the food safe and healthy, is also catalyzing the market across North America. Apart from this, the extensive utilization of this solution in packing pharmaceutical products, on account of its safety, assurance, reusability, transparency, reliability, etc., is expected to bolster the North America flexible packaging market in the coming years.
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Key Market Segmentation:
Breakup by Product Type:
- Printed Rollstock
- Preformed Bags and Pouches
- Others
Breakup by Raw Material:
- Plastic
- Paper
- Others
Breakup by Printing Technology:
- Flexography
- Rotogravure
- Digital
- Others
Breakup by Application:
- Food and Beverages
- Pharmaceuticals
- Cosmetics
- Others
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Breakup by Region:
- United States
- Canada
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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