The North America flexible packaging market is expected to grow from US$ 43,999.48 million in 2021 to US$ 58,888.76 million by 2028. It is estimated to grow at a CAGR of 4.3% from 2021 to 2028.
The on-the-go snacking concept is closely associated with the easy consumption and handling of food products. Thus, the demand for convenience food products is increasing due to the linked convenience of consumption, aided by flexible and disposable packaging that prevents the bars, rolls, drinks, and many products from coming in contact with hands, keeping them clean to work simultaneously. Also, working professionals increasingly seek tasty, nutritional, and sustainable foods to fuel their on-the-go lifestyles.
Moreover, flexible packaging of food and beverage products is more convenient for end users to handle them safely and appropriately. Flexible packaging comes in various materials, shapes, and sizes and is typically produced in either formed or unformed configurations. Formed products are pre-shaped with the option of filling and sealing yourself in-house, while unformed products usually come on a roll sent to co-packers for forming and filling. The materials used in flexible packaging are easy to manipulate and combine into innovative and customizable styles, such as pouches, sachets, printed roll stocks, stock bags, and others. So, increasing demand for snacks and convenience foods and beverages is expected to fuel the market growth across the region.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America flexible packaging market at a good CAGR during the forecast period.
North America Flexible Packaging Market Revenue and Forecast to 2028 (US$ Million)
North America Flexible Packaging Market Segmentation
The North America flexible packaging market is segmented based on material, product type, application, and country. Based on material, the market is segmented into plastics, paper, aluminum foils, and others. The plastic segment dominated the market in 2021.
Based on product type, the market is segmented into pouches, bags, films and wraps, and others. The bags segment dominated the market in 2021.
Based on application, the market is segmented into food and beverages, medical and pharmaceutical, personal care and cosmetic, industrial, and others. The food and beverages segment dominated the market in 2021.
Based on country, the regional market is segmented into the US, Canada, and Mexico. The US dominated the market in 2021.
Amcor plc, Berry Global Inc., Constantia Flexibles, Flexpak services, Huhtamaki, Mondi, Sealed Air, Sonoco Products Company, and Transcontinental Inc. are the leading companies in the regional market.