North America Plastic Food Packaging

North America Plastic Food Packaging

Plastics provide rigid, flexible, lightweight, and transparent forms of packaging, enabling key industries such as food and beverage. The North America Plastic Food Packaging Market is anticipated to witness an uptick with the expanding size of the food and beverages industry due to the changing eating habits and the quickening pace of life significantly boosting the plastic food industry. In addition, the growing use of consumer-packed goods is also one of the major factors which are the key factors which boost the adoption of inorganic growth strategies such as product launches, investments, mergers, acquisition, etc among key industry players. For instance, In 2021, Huhtamaki announced that it had acquired Elif, a manufacturer of flexible plastic packaging products including cups and lids. Moreover, increasing penetration of e-retail is the key factor that boosts the adoption of inorganic growth strategies among key industry players around the globe. For instance, in June 2022, SIG completed the acquisition of Scholle IPN, a flexible packaging solution provider with an enterprise value of USD 1.53 billion. The acquisition is expected to enable SIG to offer sustainable, low-carbon packaging solutions across a broad range of categories and product sizes.

• Based on packaging type, the North America plastic food packaging market is segmented into PET (Polyethylene terephthalate), PP (Polypropylene), HDPE (High-Density Polyethylene), and Others. The PET (Polyethylene terephthalate) segment accounted for a significant market share in 2021 and it is estimated that it will grow rapidly during the projected timeframe. PET is lightweight, durable, and transparent which makes this an ideal and harmless choice for packaging food products. In addition, various key players in North America are focusing on developing sustainable plastic that can be recyclable and cost-efficient. For instance, In 2020, packaging company ProAmpac announced that it had developed a new type of LDPE film that uses 30% less material than traditional LDPE films and is fully recyclable.
• Based on product type, the North America Plastic Food Packaging Market is divided into cups & bowls, food trays, and others. The cups and bowel segment accounted for a significant market share in 2021 and it is estimated that it will grow rapidly during the projected timeframe. Cups and bowls are widely used for a variety of food and beverage applications, including hot and cold drinks, soups, salads, and desserts. The cups and bowel segment is boosting due to the convenience of carrying them anywhere. Also, the COVID-19 pandemic has led to a surge in demand for single-use cups and bowls, as consumers are increasingly concerned about hygiene and safety which in turn has positively impacted the manufacturers to expand their cups and bowl production
• Based on food type, the market is fragmented into pet food, dairy products, fruits & vegetables, sauces & dressings, baby food, bakery and confectionery, and others. The dairy products segment accounted for a significant market share in 2021 and it is estimated that it will grow rapidly during the projected timeframe. The rising demand for dairy products and increased consumption of packaged foods are the main factors boosting the growth of the dairy product segment. Moreover, growing consumer preference for sustainable packaged food is positively impacting the manufacturers to develop new plastic for dairy products as well. For instance, in 2021, dairy cooperative Arla Foods announced that it had developed a new type of plastic cheese packaging that uses 40% less plastic and is fully recyclable.
• For a better understanding of the market adoption of North America Plastic Food Packaging the market is analyzed based on its worldwide presence in the countries U.S., Canada, and the Rest of North America). The United States plastic food packaging market is growing at a significant rate in the region. Plastic packaging is majorly preferred for food as it protects against contamination, preservation, and transportation flexibility. Moreover, the growing demand for recyclable plastic is escalating the demand for PET packaging in the food industry. Furthermore, the rise in online food ordering and home delivery services has led to a boost in demand for plastic food packaging. In addition, the increasing popularity of online packaged and processed foods is the key factor that is boosting the development of new plastic packaging trends. Hence, key players are acquiring to manufacture new plastic packaging for e-commerce. For instance, In 2021, Berry Global Inc. announced that it had completed the acquisition of Laddawn, a manufacturer of specialty films and bags. This acquisition expanded Berry's product offerings in the plastic packaging market, particularly in the areas of e-commerce and industrial packaging.
• Some of the major players operating in the market include ALPLA, Amcor plc, Bemis Manufacturing Company, Berry Global Inc, Silgan Holdings Inc, Coveris, Graham Packaging Company, Greiner Packaging, PLASTIPAK HOLDINGS, INC, Printpack.