North America Flexible Packaging Market Size (2024 - 2029)

North America Flexible Packaging Market Analysis

The North America Flexible Packaging Market size is estimated at USD 45.91 billion in 2024, and is expected to reach USD 52.68 billion by 2029, growing at a CAGR of 2.79% during the forecast period (2024-2029).

Technological innovation, sustainability trepidations, and attractive economics are among the reasons for the remarkable growth of flexible packaging in the last two decades in the United States.

• The way consumers view and interact with packages is changing. Due to the rising focus on sustainability, traditional rigid packaging solutions are being replaced by innovative, more sustainable flexible packaging. The growing 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 in 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 specific product attributes boosted by flexible packaging. For instance, according to the Flexible Packaging Association, more than 60% of North American consumers are keen to pay more for tangible and functional packaging benefits, such as product protection, shipping friendliness, and supply chain efficacy.
• In October 2022, digital watermark technology from Digimarc is seen on a Canadian pilot project to improve flexible packaging in mixed waste. The pilot project in Canada demonstrated that "covert digital watermarks" can dramatically improve the sortation of films and flexible packaging, which cannot be handled effectively by conventional optical sortation technology. Such initiatives by the regional companies will leverage the market for flexible packaging.
• Some things that slow the growth of the market are the growing awareness of environmental issues among consumers, changing regulatory standards, the ongoing push for sustainability, which includes replacing packaging made of plastic with packaging made of biodegradable materials, and the low recycling rate caused by the lack of advanced recycling facilities.

The impact of COVID-19 on the market was significant in the short run, as the global lockdown brought the entire packaging supply chain to an almost grinding halt. However, with online shopping on the rise, the market was expected to rebound. COVID-19 exposed vulnerabilities in the supply chain globally, resulting in various disruptions, including some stores stopping the collection of store drop-offs for grocery bags and flexible packaging. Moreover, the Russia-Ukraine war had an impact on the overall packaging ecosystem.

North America Flexible Packaging Industry Segmentation

Flexible packaging is a means of packaging products made of non-rigid materials, allowing for more economical and customizable options. Flexible packaging can easily change shape during filling or use. The North American flexible packaging market defines the revenue generated from the sales of flexible packaging products made of plastic materials across various end-user verticals, such as beverages, food, personal care, and more. The analysis is based on the market insights captured through secondary and primary research. The market also covers the major factors impacting the growth of the flexible packaging market in terms of drivers and restraints.

The North American flexible packaging market is segmented by material type (plastics (polyethene, bi-oriented polypropylene, cast propylene, ethylene vinyl alcohol), paper, and aluminum foil), product type (pouches, bags, films, and wraps), end-user industry (food, beverages, household, and personal care), and country (United States, Canada). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.