Technavios flexible food packaging market research report forecasts the market in North America to grow at a CAGR of around 3% during the forecast period.
Market consolidation will be one of the major trends in the flexible food packaging market in North America 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.
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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
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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.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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