North American flexible packaging market revenue to reach USD 30 billion in 2016

Published:2021-04-25 · Industry News · Source: 中国包装网

In recent years, changes in people's lifestyles have led to changes in consumer spending habits. Compared with the "hard" packaging of the past, flexible packaging products are increasingly favored by people because of advantages such as light weight and good barrier performance.

According to the "North American Flexible Packaging Market Analysis" report released by business research and consulting firm Frost & Sullivan, in 2011 the total revenue of the North American flexible packaging market reached USD 25.4 billion. By 2016, this figure will rise to USD 30 billion, with a compound annual growth rate of 3.8%.

"Food and beverage

is currently the most important application market for flexible packaging products, and healthcare has also become the fastest-growing field in the flexible packaging market at this stage." Frost & Sullivan research analyst Tridisha Goswami said, "Innovation in flexible packaging products means efficiency, personalization and sustainable development, which are crucial factors for success."

It is reported that, owing to characteristics such as light weight, polymers in flexible

packaging application materials markets have always occupied a dominant position. At the same time, flexible packaging products that use polymers as materials also have the advantages of good barrier properties, high clarity and transparency, and high mechanical strength, and have long been favored by the market. In addition, the report also points out that flexible packaging products with strong visual impact, convenience in use and carrying, and green and environmentally friendly attributes will attract more attention from the market.

The report also points out that, as a result of fierce competition from flexible packaging products from other countries, flexible

packaging production costs have gradually declined, thereby slowing its pace of development in North America. However, some flexible packaging companies that pursue innovation, personalization and environmental friendliness will find new opportunities in market development and thus achieve sustained business growth.

This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-371057.html. All rights belong to the original author; this article is for industry exchange and learning only.

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