Flexible Food Packaging Market in North America 2018-2022 | Market Consolidation Becomes Key Strategy | Technavio
LONDON--(BUSINESS WIRE)--Sep 26, 2018-- flexible food packaging market research report forecasts the market in North America to grow at a CAGR of around 3% during the forecast period.
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Technavio has published a new market research report on the flexible food packaging market size in North America for the period 2018-2022. (Graphic: Business Wire)
Market consolidation will be one of the major trends in the during 2018-2022. The vendors in the flexible food packaging market in North America are expanding their geographic presence by acquiring small regional players. The flexible food packaging market in the US is witnessing a higher number of M&A when compared to the markets in Canada and Mexico. During 2010-2016, the flexible food packaging market in the US witnessed around 18 M&A on an average.
According to Technavio analysts, one of the key drivers for the flexible food packaging market in North America is the low cost of production and less plastic waste generated by flexible food packaging when compared with rigid packaging.
Flexible food packaging market in North America: Benefits such as lower cost of production and less plastic waste than rigid packaging
There have been increasing concerns over the growing demand for plastic packaging owing to its high production cost and its contribution to environmental pollution. Hence, to reduce the cost of production and plastic packaging waste, many companies have started adopting different strategies. The demand for flexible packaging from food companies has been growing due to the increased focus on sustainability.
According to a senior analyst at Technavio for research on packaging, “Flexible plastic packaging generates approximately 45%-55% less packaging waste when compared with rigid plastic packaging. Therefore, it assists in reducing the carbon footprint of the companies that employ flexible plastic packaging solutions. Additionally, the use of flexible packaging reduces the overall production cost.”
Flexible food packaging market in North America: Segmentation analysis
This report on the flexible food packaging market in North America provides market segmentation by material type (plastic, paper, and foil) and by region (the US, Canada, and Mexico). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The US held the largest share of the market in 2017, accounting for more than 79% share. It was followed by Canada and Mexico respectively. The US is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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KEYWORD: NORTH AMERICA
INDUSTRY KEYWORD: MANUFACTURING PACKAGING RETAIL FOOD/BEVERAGE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 09/26/2018 01:25 PM/DISC: 09/26/2018 01:25 PM