North America Flexible Packaging Market – Growth, Trends, and Forecasts (2020 – 2025)

The North America Flexible Packaging market was valued at USD 38.6 billion in 2019 and is expected to reach USD 51.2 billion by 2025, at a CAGR of 3.16% over the forecast period 2020 – 2025. Owing to the aforementioned exceptional benefits, companies are rigorously investing in flexible packaging technology. For instance, in July 2018, PPC Flexible Packaging, an Illinois-based consumer packaging company invested over USD 2 million in upgrading its equipment and facilities, which is expected to positively impact the United States market.

The consumers enjoy the capability of carrying their favorite food with them wherever they travel. As a result, innovation and demand for flexible packaging are highly correlated with the consumer’s lifestyle and behavior. For instance, the hectic lifestyle of a modern family, owing to both parents being working professionals, requires eating on-the-go. Moreover, consumers with the utilization of flexible packaging tend to reduce food waste, which further fuels market growth over the estimated period.

According to Bureau of Labor Statistics, in the United States, the monthly full-time employees from June 2017 to June 2018 has increased about over 2%, owing to expansions and introduction of existing businesses, which is likely to boost the market growth.

The primary raw materials required for flexible packaging are plastic, paperboard, and laminates. The plastic processing industry emits an enormous amount of greenhouse gas, which is a major component of global warming.