Market Size of North America Plastic Packaging Film Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 2.81 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Plastic Film Packaging Market Analysis
The North America Plastic Packaging Film Market size is estimated at 3.77 Million tonnes in 2024, and is expected to reach 4.33 Million tonnes by 2029, growing at a CAGR of 2.81% during the forecast period (2024-2029).
- The need to integrate technology with plastic film packaging is driven by rising demand for packaging materials with improved barrier qualities, product innovation, and increasing supply chain digitization. The growth of the food ingredients market in the region is driven by the growth of the food and beverage industry, increasing consumption of dairy and frozen dairy products, and increased focus on demand for processed and packaged foods. Plastic film packaging is the common packaging material. The growing demand for portable and suitable food packaging is driving the use of plastic film packaging across various industries.
- According to the US Census Bureau, from April to June 2023, the US retail e-commerce sales amounted to nearly USD 277.6 billion, marking an expansion compared to the previous quarter of 2023. Such a huge rise in e-commerce sales would push the plastic film packaging players in the region to develop new products to cater to the customer’s various needs and expand their market share in the region.
- With the increasing consumption of confectionaries and sweets, several plastic film packaging firms offer packaging products specifically catering to this demand and further driving their sales and revenues. For instance, as per the United States Census Bureau, the confectionery-producing industry revenue in the United States is expected to reach USD 10.89 billion by FY 2023.
- Recycling and environmental considerations are essential when it comes to packaging. Plastic contamination in the oceans and landfills are both significantly impacted by packaging trash. Plastic film packaging significantly affects the environment's plastic pollution. Plastic can affect marine life and ecosystems since it takes hundreds of years to disintegrate.
- Single-use packaging is either thrown away or recycled instead of being reused. According to the United States Environmental Protection Agency (EPA), about half of all municipal solid waste comprises food and materials used in food packaging. The issue with plastic packaging is that its natural degradation can take up to many years. Plastic pollutes the oceans, rivers, and lakes, and it litters the streets.
