North America Flexible Packaging Market Insights Forecasts to 2033

• The North America Flexible Packaging Market Size was valued at USD 49.57 Billion in 2023.
• The Market Size is Growing at a CAGR of 4.1% from 2023 to 2033
• The North America Flexible Packaging Market Size is Expected to Reach USD 70.11 Billion by 2033

The North America Flexible Packaging Market Size is Anticipated to Reach USD 70.11 Billion by 2033, growing at a CAGR of 4.1% from 2023 to 2033.

Market Overview

Flexible packaging is made of flexible and easily yielding materials that can be molded into various shapes. It is constructed of high-quality film, paper, and aluminum foils to provide a wide range of protective properties. Also, it is available in a variety of forms, including pouches, lines, and bags, and can be used with any type of packaging. Flexible packaging is used in a variety of industries, including food and beverage, pharmaceutical, cosmetic, and automotive, to protect contents from damage, dust, dirt, leakage, pilferage, evaporation, and water. The North America flexible packaging market is expanding rapidly, driven by rising demand for convenient packaging solutions. This increase is primarily due to changing consumer behaviors and the rapid growth of e-commerce. Additionally, advanced packaging styles such as collapsible/reusable pouches and bag-in-box, among others, are increasing the use of flexible packaging in combination with rigid packaging designs. Items such as pouches, liners, bags, and shrink wraps are expanding the region's flexible packaging market with a wide range of new applications. Also, the consolidation of the region's online business sector is expected to make flexible packaging one of the fastest growing packaging approaches in the coming years.

Report Coverage

This research report categorizes for the North America flexible packaging market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America flexible packaging market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America flexible packaging market.

Driving Factors

Several factors are currently driving growth in the North American flexible packaging market. Advancements in packaging technology, as well as consumer preference for flexible packaging, have fueled demand in the region. Also, it is a cost-effective solution to storage issues, reducing product waste while keeping food safe and healthy. Other factors driving market growth include customizability, safety, reusability, transparency, and reliability. Furthermore, flexible packaging promotes consumers' on-the-go lifestyles by allowing them to carry food items anywhere. Furthermore, the flexible packaging materials' long shelf life and diverse application by end users have boosted their demand in the region. Additionally, the increasing demand for environmentally friendly flexible packaging materials and products will continue to fuel the demand in upcoming years.

Restraining Factors

It is less durable than rigid packaging because it cannot withstand high pressure and temperature, resulting in a loss of properties. This limitation is critical when packaging food and pharmaceuticals because it can cause spoilage and contamination, limiting market growth.

Market Segmentation

The North America flexible packaging market share is classified into material and application

• The plastics segment is expected to hold the largest market share through the forecast period.

The North America flexible packaging market is segmented by material into plastics, paper, metal, and bioplastics. Among these, plastics segment is expected to hold the largest market share through the forecast period. Plastic is widely used in the food and beverage industry because it can take many different shapes and forms, which is a significant advantage in this industry.

• The food segment is expected to dominate the North America flexible packaging market during the forecast period.       

Based on the application, the North America flexible packaging market is divided into food, beverages, pharmaceutical & healthcare, personal care & cosmetics, and others. Among these, the food segment is expected to dominate the North America flexible packaging market during the forecast period. Growing demand for packaged foods, such as ready-to-eat meals, frozen meals, snack foods, and cake mixes, is expected to force flexible packaging manufacturers to increase production capacity, thereby increasing flexible packaging market demand.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America flexible packaging market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Amcor PLC
• Mondi PLC
• Transcontinental Inc.
• American Packaging Corporation
• Printpack Inc.
• Sigma Plastics Group Inc.
• Novolex Holdings Inc.
• Berry Global Inc.
• Sealed Air Corp.
• PPC Flexible Packaging LLC
• Constantia Flexibles
• ProAmpac LLC
• Emmerson Packaging
• Charter Next Generation Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2024, Mondi PLC has announced the acquisition of Hinton Pulp Mill in Alberta, Canada, for USD 5 million. Hinton Pulp Mill is located in Hinton, Alberta, and is owned and operated by West Fraser Timber Company Ltd. The mill can produce about 250,000 tons of pulp per year.

Market Segment

This study forecasts revenue at North America, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the North America flexible packaging market based on the below-mentioned segments:

North America Flexible Packaging Market, By Material

• Plastics
• Paper
• Metal
• Bioplastics

North America Flexible Packaging Market, By Application

• Food
• Beverages
• Pharmaceutical & Healthcare
• Personal Care & Cosmetics
• Others