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Packaging Industry in United States - Growth, Trends, and Forecast (2019 - 2024)

Packaging Industry in United States - Growth, Trends, and Forecast (2019 - 2024)

  • November 2019
  • 213 pages
  • ID: 5865949
  • Format: PDF
  • By Mordor Intelligence LLP

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Market Overview
The packaging industry in United States market is expected to grow at a CAGR of 4.1%, during the forecast period (2019 - 2024). Companies across the region are rigorously investing in flexible packaging technology. For instance, in July 2018, American Packaging has invested in a digital system for flexible packaging that is designed to enable greater choice in surfaces, substrates, and technical performance. New product launches and tests will have unique possibilities with the APC Digital Tool Kit.

- In order to concentrate on their core businesses and decrease operational costs, companies in the United States are outsourcing packaging requirements thereby increasing market penetration across the region.
- The presence of multiple logistics companies across the region brings out a high demand for secondary and tertiary packaging, owing to their prominence in transportation, thus paving way for the growth of the packaging industry of this region.
- The plastic processing industry emits an enormous amount of greenhouse gas, which is a major component of global warming. The extensive use of such component may lead to environmental degradation thereby creating a huge concern across the regional ecosystem.

Scope of the Report
There is a rise in eco-friendly packaging in the region as the number of international brands offering chemical-free, organic and natural products in the United States is increasing. In some categories of home care, the type of packaging used varies according to the usage of the product. For example, most manufacturers of fabric softeners use PET packaging as it gives the feeling of softness compared to HDPE. The growing demand for convenience packaging type is quickly evolving and pushing designers in multiple industries to innovate across the region. This is providing the consumers finding as they need products that fit into their increasingly urban, hectic lifestyles, including increased travel. Moreover, the regional players are innovating most economical packaging method to distribute and preserve food, pharmaceutical products, and other consumables across the region.

Key Market Trends
Plastic Material type is expected to hold Significant Market Share

- Plastic as a packaging material is prominently used across various major end-user sectors such as the food & beverage industry, from airtight wraps to shelf stable bottles and containers. In this industry, plastics have also driven innovations in packaging design. For instance, modified atmosphere packaging (MAP) helps preserve food freshness by capturing a reduced-oxygen air mixture in a plastic package. These advanced and intelligence packaging techniques play a critical role in ensuring not to compromise the integrity of the product while increasing their shelf life drastically.
- In the United States, the Food and Drug Administration regulates the safety of food packaging, including plastics used in contact with food. All food-contact packaging materials must pass FDA’s stringent approval process. In the medical and healthcare packaging industry, plastics are uniquely suited to meet the stringent standards and requirements. Their ability to remain inert to the products contained within the package plays a vital role in propelling the growth of the market.
- Moreover, recyclability is expected to be the greatest challenge faced by US companies, as more and more companies, using packaging products are focusing on recyclable and reusable of plastic packaging.

Competitive Landscape
The packaging industry in the United States is moderately competitive and consists of several players. With the rising demand for packaging application along with technological advancement across the economy of the United States, many companies are increasing their market presence thereby expanding their business footprint across the various end-user sector.

- May 2019 - Amcor Limited and Bemis Company, Inc. announced that regulatory clearance has been received from the US Department of Justice in relation to the combination of the two companies. A condition of this approval is the previously announced sale of certain Amcor assets located in the US to Tekni-Plex, Inc.
- March 2019 - Smurfit Kappa launched an innovative new range of premium papers that are suitable for both digital and flexographic printers. The DigiStar paper was developed in response to meet the growing demand in the market for a multi-purpose premium solution delivering high-quality printing results.

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