According to a recent report from Knowledge Sourcing Intelligence, the North American flexible packaging market is expected to grow at a continuous annual growth rate (CAGR) of 2.07 percent from 2016 to 2021, bringing its total market value to $33.991 billion.
The report from the market research and consulting firm, titled “North American Flexible Packaging Market – Forecasts from 2016 to 2021,” states that the N.A. flexible packing market was valued at $30.06 billion in 2015. The report, which is based on analysis of noted flexible packaging players such as Bemis and Amcor, cited the following as key reasons for the projected growth in flexible packaging:
- Rising use of standup pouches.
- Improving economic outlook.
- Increase in use of single-serve stick pack packaging formats.
- Technological advances in barrier materials.
For more information on the report or to request a sample of it, click here.