The Report “U.S Flexible Packaging Market by Material (Plastic Film, Aluminium Foil, Paper, Bioplastic), Type (Stand-Up Pouches, Retort Pouches, Gusseted Bags, Others), Printing Technology (Flexography, Rotogravure, Digital, Others), Application – Analysis and Forecast to 2021” is estimated to reach $29.64 billion by 2021, growing at a CAGR of 4.56% from 2016 to 2021.
Browse through the TOC of the U.S Flexible Packaging Market for an analysis of industry trends and segments, with the help of various tables and figures.
The U.S. flexible packaging market is projected to grow from USD 23.72 billion in 2016 to USD 29.64 billion by 2021, at an estimated CAGR of 4.56%. This growth is due to the increasing demand from various end-user industries such as food & beverages, healthcare, cosmetics & toiletries, and others (oil & lubricants, household products, agricultural products, and sporting goods). Factors such as growing consumer preferences towards convenient packaging, ease of use, and its lightweight characteristic are driving the demand for flexible packaging in the U.S. Manufacturers are shifting towards flexible packaging as it produces less waste due to lower consumption of raw materials, requires less storage space, is easy to transport, and has excellent barrier properties.
Plastic films segment is projected to grow at the highest rate during the forecast period
Raw materials such as plastic films, aluminum foil, paper, and bioplastic are used for flexible packaging. Plastic films are further categorized into polyethylene, polypropylene, PVC, BOPET, EVOH, polyamide, and others (polystyrene and polycarbonate). Of these, polyethylene accounted for the largest market share in 2015. The BOPET segment is projected to grow at the highest rate from 2016 to 2021. BOPET is primarily used in the packaging of food & beverage products as it protects them from oxidation and also provides extended shelf life to the product.
Stand-up pouches segment contributes maximum market share to the U.S. flexible packaging market
The stand-up pouches segment is estimated to account for the largest share in 2021 mainly because of growing consumption of food & beverage, dairy, and cosmetics products. Stand-up pouches are appealing as well as functional as they offer various features such as zipper re-seal, slider closure, and release valves. The growing healthcare industry also provides an opportunity to the market to grow further due to the rising consumption of over-the-counter products for which stand-up pouches are used.
Northeast region to play a key role in the market for U.S. flexible packaging
On the basis of region, the U.S. flexible packaging market is segmented into Midwest, West, Northeast, Southeast, and Southwest. The Northeast region accounted for the largest share among all regions in 2015. However, Southwest region is projected to grow at the highest rate from 2016 to 2021, owing to the increasing demand for flexible packaging in this region, coupled with the growing food & beverage and healthcare industry. With increasing disposable incomes, the urbanized population is shifting towards packaged foods which are healthy and safe. Therefore, rising income and consumption levels would also lead to the growth of flexible packaging market in this region.
The key players in the U.S. flexible packaging market are Bemis Company, Inc. (U.S.), Sonoco Products Company (U.S.), Sealed Air Corporation (U.S.), Berry Plastics Group, Inc. (U.S.), and Coveris Holdings S.A. (U.S.). Other players include Ampac Holdings, LLC (U.S.), Tredegar Corporation (U.S.), Printpack, Inc. (U.S.), American Packaging Corporation (U.S.), and Glenroy, Inc. (U.S.).
The scope of the report covers detailed information regarding the major factors influencing the growth of the U.S. flexible packaging market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been conducted to provide insights into their business overview, products & services, key strategies, new product & technology launches, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the market for flexible packaging.
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