North American flex-pack market to reach $48+ billion by 2026, up 3.16% CAGR
The North American flexible-packaging market was valued at $40.14 billion in 2020 and is expected to reach $48.39 billion by 2026 growing at a CAGR of 3.16% over the forecast period (2021-2026), says new report by Research & Markets. The growing market demand for customer-friendly packages and heightened product protection is expected to boost flexible packaging as a viable and cost-effective substitute.
Flexible packaging in North America is rising faster than many other forms. It includes trends, like e-commerce, digital printing, and sustainability, which can be used to drive market development and growth. Customers in the region are eager to pay more for certain product attributes boosted by flexible packaging. For instance, according to the Flexible Packaging Assn., more than 60% of North American consumers are keen to pay more for tangible and functional packaging benefits, such as product protection, shipping friendly, and supply chain efficacy, among others.
Companies mentioned in the report include 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., Sealed Air Corp., Tetra Pak International SA, Constantia Flexibles, Winpak Limited, Cascades Flexible Packaging, Emmerson Packaging, Covertech Flexible Packaging Inc., ProAmpac, Sonoco Products Co., and St. Johns Packaging.
More info: North America Flexible Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)