Sales of flexible plastic packaging in the United States are estimated to be valued at USD 34,937.9 million in 2023 and are projected to reach USD 45,161.7 million by 2033. Sales are anticipated to expand at a CAGR of 2.6% in the assessment period from 2023 to 2033.
| Attributes | Key Insights |
|---|---|
| United States Flexible Plastic Packaging Business Size (2022A) | USD 34,052.2 million |
| Estimated United States Flexible Plastic Packaging Business Size (2023E) | USD 34,937.9 million |
| Projected United States Flexible Plastic Packaging Business Size (2033F) | USD 45,161.7 million |
| Value-based CAGR (2023 to 2033) | 2.6% |
The United States flexible plastic packaging business was valued at USD 34,052.5 million at the end of 2022 and is anticipated to exhibit a y-o-y growth of 2.8% in 2023. The oil-based polymers segment by material type accounted for around 96% share in value by the end of 2022.
The bio-plastic segment is estimated to register a CAGR of 6.0% from 2023 to 2033 due to the increasing need for sustainable materials.
The pouches segment, with an estimated share of more than 33%, leads the United States flexible plastic packaging under the product type category. It is expected to rise at a CAGR of around 2.4% over the forecast period.
In terms of end-use, the consumer packaging segment is anticipated to develop supplementary avenues of USD 10,334.3 million between 2023 and 2033.
Due to changing consumer preferences and lifestyles, the demand for single-portion packs or small packs has increased. Consumers seek convenient and on-the-go products that are easy to carry and consume.
Single-portion packs allow for product differentiation and customization. Manufacturers can offer a wide range of portion sizes and packaging formats to cater to different consumer needs and preferences.
As more sectors, such as food and beverage and personal care, adopt single-portion packaging, the space for flexible plastic packaging materials grows. Flexible plastic packaging is considered a cost-effective solution for single-portion packs.
It will likely offer efficient material utilization, reducing packaging waste and costs. The lower cost of production for flexible packaging materials compared to rigid packaging options also contributes to its popularity in this segment.
The United States flexible plastic packaging business is expected to experience a lucrative growth outlook during the forecast period. A new estimation predicts that sales will rise from 2023 to 2033. It is projected to create an additional potential of USD 11,109.2 million and is predicted to expand 1.3 times the current value during the evaluation period.
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In the United States, the growth witnessed by e-commerce and online shopping in recent years is phenomenal. The growth of e-commerce and online shopping has led to an increased demand for flexible plastic packaging. The demand for solutions, particularly in the form of pouches, bags, and films for packaging and shipping products directly to consumers' homes, has surged.
Flexible plastic packaging solutions can offer protection against shocks, vibrations, and moisture during transit. This is set to be crucial for preventing damage to goods during shipping. Flexible plastic packaging is lightweight, which can lead to cost savings in shipping.
Lower shipping weights can result in reduced shipping fees, making it an economical choice for e-commerce companies. Flexible plastic packaging often includes features such as easy-open tear strips and resealable closures. These can make it convenient for consumers to access and store their purchased items.
Demand to Surge from Food and Beverage and Healthcare Sectors
The United States flexible plastic packaging business is estimated to expand at a CAGR of 2.6% in the evaluation period from 2023 to 2033. In the ever-expanding packaging business, the flexible plastic packaging business in the United States is a vibrant sector.
It includes a wide variety of flexible materials that can be produced into films, sheets, bags, pouches, wraps, and other forms, including polyethylene, polypropylene, and PVC. As these materials are lightweight, affordable, and easily configurable, they are set to be extremely adaptable and have uses in a wide range of sectors.
Several sectors, including food and beverage, healthcare, personal care, industrial, and consumer goods, are served by the United States flexible plastic packaging business.
Products, including snacks, drinks, pet food, medications, medical equipment, and cleaning supplies, are packaged with it. Material science has made great strides in the business, enabling the creation of high-performance films with particular qualities, including puncture resistance, scalability, and barrier resistance.
The flexible plastic packaging business is witnessing an increasing demand for eco-friendly and sustainable substitutes due to rising environmental consciousness. This covers bio-based plastics, biodegradable alternatives, and recyclable materials.
Multiple laws pertaining to food safety, product labeling, environmental effects, and other topics are applicable to the sector. It is imperative that leading players adhere to these norms.
The integration of smart packaging technology, advancements in material science, and a move toward sustainable packaging solutions are among recent trends. Product customization, e-commerce packaging, and health and wellness are a handful of the sectors where there are growth prospects.
A wide range of participants, such as raw material suppliers, converters, and package producers, define sales. Businesses are striving to provide unique, affordable, and sustainable solutions to remain competitive.
The flexible plastic packaging business in the United States recorded a CAGR of 1.5% during the historical period from 2018 to 2022. It reached a value of USD 34,052.2 million in 2022 from USD 32,054.9 million in 2018.
| Historical CAGR (2018 to 2022) | 1.5% |
|---|---|
| Historical Value (2022) | USD 34,052.2 million |
In the past decade, flexible packaging has evolved drastically and is the rapidly growing packaging solution in the field. The demand for flexible plastic packaging is expanding among several sectors, especially food, beverages, and pharmaceuticals.
Food and beverages currently occupy around 2/3rd of all packaging, with flexible packaging accounting for 90% of this usage. According to Perfect Packaging (The Flexible Packaging Association (FPA)), at present, around 39% of packaging worldwide and about 19% of packaging in the United States is made of flexible packaging.
The increasing need for customized packaging, along with ensuring prolonged product shelf life in an economical way, drives the demand for flexible plastic packaging. In addition, rising innovation in the flexible plastic packaging business by key manufacturers supports sustainability trends.
It is anticipated to help boost sales of flexible plastic packaging solutions in the ecosystem. The changing consumer preference toward user-friendly packaging is set to propel the demand for flexible plastic packaging solutions.
Owing to their hectic schedules, consumers have become more and more in need of packaging solutions that provide convenience. These include resealable alternatives, single-serve packs, and shapes that are easy to carry.
More complex and customized packaging designs are expected to be made available with ongoing technological developments, such as improvements in printing technologies and production processes.
Research and development efforts in the 2010s and 2020s concentrated on developing sustainable substitutes with performance characteristics that were comparable to traditional plastics. This includes improved recycling technologies, bio-based polymers, and biodegradable materials.
Thanks to developments in printing and production technology, brands have been attempting to set themselves apart with distinctive packaging labeling and design possibilities.
Principal Consultant
The table presents the expected CAGR for the United States flexible plastic packaging space over several semi-annual periods spanning from 2022 to 2033. In the first half (H1) of the decade from 2022 to 2032, the field is predicted to surge at a CAGR of 2.4%, followed by a slightly lower growth rate of 2.2% in the second half (H2) of the same decade.
Moving into the subsequent period, from H1 2023 to H2 2033, the CAGR is projected to increase slightly to 2.9% in the first half and remain relatively moderate at 2.7% in the second half.
| Particular | Value CAGR |
|---|---|
| H1 (2022 to 2032) | 2.4% |
| H2 (2022 to 2032) | 2.2% |
| H1 (2023 to 2033) | 2.9% |
| H2 (2023 to 2033) | 2.7% |
| Attributes | Key Factors |
|---|---|
| United States Flexible Plastic Packaging Business Trends |
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| Growth Hindrances |
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| Upcoming Opportunities |
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The table below signifies leading sub-categories under product type and end-use categories in the United States flexible plastic packaging business. Pouches are expected to dominate the business of flexible plastic packaging by exhibiting a 2.4% CAGR in the evaluation period. Under the end-use category, the consumer packaging segment is projected to lead at a 2.6% CAGR.
| Segment | Value-based CAGR |
|---|---|
| Pouches (Product Type) | 2.4% |
| Consumer Packaging (End-use) | 2.6% |
Pouches are the most lucrative segment in the United States flexible plastic packaging business. Its growth is attributed to the ongoing expansion of the retail and e-commerce sectors. It is also set to be driven by the surging need for packaged food and beverages.
As flexible pouches are environmentally friendly, portable, easily customizable, and tear and puncture-resistant, their demand can surge in the food and beverage sector. The pouches segment is set to stimulate a supplementary potential worth USD 3,354.2 million by 2033.
Flexible plastic packaging solutions are anticipated to be popular in consumer sectors such as food, beverage, pharmaceuticals, personal care, retail, and others. Expansion of the food service sector supplements the sales of flexible plastic packaging. The demand for user-friendly packaging in the pharmaceutical sector would also augment sales of flexible plastic packaging.
Key manufacturers are focusing on the innovation and sustainability of flexible plastic packaging solutions, which will further drive the United States' flexible plastic packaging space. The consumer packaging segment is estimated to witness a 2.6% CAGR in the forecast period.
Leading players in the business are gaining high shares by developing innovations and advancements in the United States flexible plastic packaging space. These key players are also seeking to execute merger acquisition and expansion strategies.
Recent developments by leading players in the business are
| Attribute | Details |
|---|---|
| Estimated Flexible Plastic Packaging Business Revenue (2023) | USD 34,937.9 million |
| Projected Flexible Plastic Packaging Business Revenue (2033) | USD 45,161.7 million |
| Value-based CAGR | 2.6% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD million) and Volume (thousand tons) |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | By Product Type, By Material, By Packaging Type, By End-use, By Sub-region |
| Key Companies Profiled | Amcor Plc; Constantia Flexibles; Berry Global Group, Inc.; Huhtamaki Oyj; Sonoco Products Company; InterFlex Group; Sealed Sir Corporation; Mondi Plc; Uflex Ltd.; Winpak Ltd.; Rengo Co. Ltd.; Transcontinental Inc.; ePac Holdings, LLC.; Glenroy, Inc.; ProAmpac LLC; Goglio SpA; Bryce Corporation; Printpack; American Packaging Corporation; SK microworks America, Inc. |
In 2022, the business size was USD 34,052.5 million.
The business is anticipated to reach USD 34,937.9 million in 2023.
The business is expected to reach USD 45,161.7 million in 2033.
The projected CAGR from 2023 to 2033 is 2.6%.
The consumer packaging segment is expected to garner a significant value share by 2023.
1. Executive Summary 2. Overview 3. Key Trends 4. Key Success Factors 5. Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Business - Pricing Analysis 7. Demand (in Value or Size in USD million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Background 9. Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 9.1. Pouches 9.2. Bags & Sacks 9.3. Tubes 9.4. Sleeve Labels 9.5. Films & Wraps 10. Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 10.1. Oil-based Polymers 10.1.1. Polyethylene 10.1.2. Polypropylene 10.2. Bioplastics 10.2.1. PLA 10.2.2. Starch-based Plastics 11. Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging Type 11.1. VSP 11.2. MAP 11.3. General Barrier 12. Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 12.1. Consumer Packaging 12.2. Industrial Packaging 13. Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sub-region 13.1. Northeast 13.2. Southwest 13.3. West 13.4. Southeast 13.5. Midwest 14. Structure Analysis 15. Competition Analysis 15.1. Amcor Plc 15.2. Sonoco Products Company 15.3. Constantia Flexibles 15.4. Berry Global Group, Inc. 15.5. Huhtamaki Oyj 15.6. InterFlex Group 15.7. Sealed Air Corporation 15.8. Mondi Plc 15.9. Uflex Ltd. 15.10. Winpak Ltd. 15.11. Rengo Co. Ltd. 15.12. Transcontinental Inc. 15.13. ePac Holdings, LLC. 15.14. Glenroy, Inc. 15.15. ProAmpac LLC 15.16. Goglio SpA 15.17. Bryce Corporation 15.18. Printpack 15.19. American Packaging Corporation 15.20. SK microworks America, Inc. 16. Assumptions and Acronyms Used 17. Research Methodology
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Flexible Plastic Packaging Industry Analysis in United States
