North America is the leader of the market for packaging. It accounts for more than 30% of the market and it is still growing. Flexible packaging has a huge market in North America because of its culture of e-commerce and packed food. With the USA GDP increasing by 4.2% in the second quarter of 2016 and increasing financial stability, the unemployment rate also has gone down. So, the consumers are having more disposable income to spend. This has helped the retail market in the North America region.
With the advent of e-commerce companies like E-Bay and Amazon, it changed the way consumers looked at shopping. The special packaging used in protecting the goods from damage in transit and storage has been instrumental in the success stories of e-commerce companies across the world in a huge way.
Flexible packaging has superior barrier capabilities and can effectively protect the product from moisture and oxygen. This is instrumental in increasing the shelf life of the product considerably. In this age of concern over increasing use of pesticides and fears of food safety, this need to provide longer shelf life is one of the major drivers of flexible packaging.
The major concerns with this market are that the economy is still sluggish. Still, thousands of people are unemployed. USA government foresees the growth to start by the end of 2016.
The investors should not be bumped by these concerns because new companies like Alibaba are going to invest in the American markets. So the investments into this region have started growing with companies from Asia-Pacific and European region looking to expand their Northern American operations.
The report provides a comprehensive analysis of the market segmented on the basis of packaging material used and the end user industry. Detailed estimates for the next five years are included along with the analysis of the major players and their strategies. Some of the key vendors mentioned in the report are Amcor, Mondi Group, SIT Group, Wipak Group and Automated Packaging Systems. Some other companies which are serving the market in their own innovative way, mentioned in the report are Rollprint Packaging Products, Paharpur 3P and PERUPLAST S.A.
Reasons to buy this report
Who is this report useful to?