One of the most recognizable packaging techniques used by major retailers across a wide range of end-user verticals is flexible packaging, which may be determined by its quality, such as increasing shelf life. The significant growth of flexible packaging in the United States during the last 20 years can be attributed to a number of factors, including mechanical advancement, manageability issues, and attractive financial considerations.
North America Flexible Packaging Market Driving Factors and Challenges
Drivers: Several factors are currently driving the flexible packaging industry in North America. Flexible packaging is becoming more and more popular among customers, which has increased demand for it in the area due to developments in packaging technology. It also saves product wastes and maintains the food's safety and health, making it a reasonably priced solution to storage problems. Its capacity for customization, assurance of safety, reusability, transparency, and dependability are additional aspects propelling the market's expansion. Furthermore, consumers' on-the-go lifestyles are supported by flexible packaging, which allows them to carry food items wherever. In addition, in the years to come, the market for eco-friendly flexible packaging goods and materials will only grow.
Furthermore, more flexible packaging and rigid packaging formats are becoming more and more popular due to new packaging designs like bag-in-box and reusable/foldable pouches. Products including bags, pouches, and more are enabling the flexible packaging market to explore a wide range of cutting-edge applications. Furthermore, during the projection period, flexible packaging is expected to rise at the quickest rate due to the consolidation of the e-commerce industry in the North American area.
Challenges: Along with advances in technology, flexible packaging formats, designs, and trends are always evolving. The packaging industry has realized that smart packaging is necessary to reduce the amount of manual work required for tasks like inventory management, sales tracking, product tracking, and intelligent storage. The flexible items that are now on the market are no longer relevant due to the swift advancements in technology. Furthermore, a lot of manufacturers want to draw in more customers by providing eye-catching packaging options that satisfy a range of consumer demands.
Impact of COVID-19 on North America Flexible Packaging Market
COVID-19 had a significant short-term effect on the market because the global lockout nearly stopped the packaging supply chain. Nevertheless, given the rise in online sales, the industry was expected to rebound. The disclosure of global supply chain vulnerabilities by COVID-19 resulted in several interruptions, such as the withdrawal of grocery bags and flexible packaging drop-off collections from specific establishments. The crisis between Russia and Ukraine also affected the packaging industry as a whole.
North America Flexible Packaging Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; 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., and others.
North America Flexible Packaging Market Segmentation:
By Product Type: Based on the Product Type, North America Flexible Packaging Market is segmented as; Printed Rollstock, Preformed Bags and Pouches, Others.
By Raw Material: Based on the Raw Material, North America Flexible Packaging Market is segmented as; Plastic, Paper, Others.
By Printing Technology: Based on the Printing Technology, North America Flexible Packaging Market is segmented as; Flexography, Rotogravure, Digital, Others.
By Application: Based on the Application, North America Flexible Packaging Market is segmented as; Food and Beverages, Pharmaceuticals, Cosmetics, Others.
By Region: This research also includes data for Eastern Region, Western Region, Northern Region, Southern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.