North America Flexible Plastic Packaging Market Forecast 2024-2032

North America Flexible Plastic Packaging Market Forecast 2024-2032

The North America flexible plastic packaging market is set to progress with a CAGR of 4.29% over the forecast period of 2024-2032. The market was valued at $59108.69 million in 2023 and is expected to reach $87020.84 million by 2032.

MARKET INSIGHTS

The North American flexible packaging market is primarily driven by the rising adoption of FPP across industries like food & beverages, healthcare, personal care, and e-commerce. Growing e-commerce sales amplify the need for secure supply chain packaging.

Moreover, Increased demand from sectors such as packaged foods, pharmaceuticals, cosmetics, and online retail is fueling the market’s growth. Regionally, the United States and Canada are key contributors; the US sees strong demand for packaged foods, while Canada’s pharmaceutical sector, one of the fastest-growing globally, supports the market’s expansion. This positive outlook positions the region for sustained demand in flexible packaging.

REGIONAL ANALYSIS

The North America flexible plastic packaging market growth evaluation includes a detailed assessment of the United States and Canada.

The United States flexible packaging market is primarily driven by the growing adoption of flexible packaging solutions and their widespread utility across various end-user sectors, including medical and pharmaceuticals, food & beverage, and consumer products. Flexible packaging represents the second-largest segment in the packaging industry, following rigid plastics and bottles. Its increasing popularity over rigid plastic packaging is attributed to key advantages such as lightweight design, enhanced durability, extended shelf life, and cost efficiency.

According to the Flexible Packaging Association, the primary applications of flexible plastic packaging are concentrated in food & beverages, medical and pharmaceutical products, and consumer goods. These attributes make it a preferred choice for manufacturers seeking efficiency and sustainability. Flexible plastic packaging’s superior characteristics, including high durability, extended product shelf life, and cost-effectiveness, have further fueled its adoption. Among the various applications, the food & beverage segment holds the largest share in the US flexible packaging market, highlighting its dominant role in driving industry growth.

In line with this, the flexible packaging market in Canada is primarily driven by the growth of the packaging and frozen food industries. According to Food & Consumer Products of Canada, the increasing demand for packaged and frozen foods, coupled with a focus on ingredient quality, is fueling the need for flexible packaging solutions. Flexible packaging is particularly favored for gourmet products, which often feature exotic flavors and unique ingredients. This packaging format is also preferred for its ability to preserve nutritional value, enhance durability, and extend shelf life compared to rigid packaging. Additionally, the rising popularity of organic foods, growing health consciousness, and the increasing demand for convenience and ready-to-use food products have further amplified the adoption of flexible packaging in Canada, thus boosting the market’s growth.

SEGMENTATION ANALYSIS

The North America flexible plastic packaging market segmentation includes material, type, printing technology, and application. The material segment is further classified into plastics, aluminum foils, and other materials.

The growth of the food & beverage sector is anticipated to positively influence the flexible packaging industry. Plastic flexible packaging plays a crucial role in this segment due to its ability to adapt to various forms and shapes, thus meeting diverse industry needs. Plastics represent the largest raw material segment in flexible packaging, with demand projected to rise further. Commonly used polymers in this regard include low-density polyethylene (LDPE) and linear low-density polyethylene (LLDPE).

According to the Plastics and Chemicals Industries Association (PACIA), approximately 223,000 tons of LDPE packaging are utilized across various end use industries. Applications of plastic flexible packaging span a wide range, including flexible beverage containers, metalized foil pouches, yogurt tubs, and confectionary twist wraps. Additionally, it is extensively used in boutique retail shopping bags, pallet stretch and shrink films, shrink overwraps, produce bags, tubes, pouches, agricultural mulch and silage films, heat-sealable coatings, films, and cling wraps. This versatility underscores its growing significance in the packaging industry, thereby fueling the segment’s growth during the forecasted period.

COMPETITIVE INSIGHTS

Some of the key companies operating in the North America flexible plastic packaging market include Amcor Plc, Berry Global Group Inc, CCL Industries Inc, etc.

Amcor Plc, headquartered in Zürich, Switzerland, is a global leader in packaging solutions. The company offers a wide range of packaging products, including plastic, fiber, metal, and glass, along with packaging-related services. It operates through three key business segments: Amcor Flexibles, Amcor Rigid Plastics, and Other/Investments, providing innovative and sustainable packaging solutions to customers worldwide. With a strong global presence, Amcor primarily serves markets in North America, Western Europe, Australia, and New Zealand.

Please Note: The Report comes with a PDF + Excel