The Flexible Packaging Association’s (FPA) 2020 State of the Flexible Packaging Industry Report provides industry converters, suppliers, investors and analysts with insight into the performance (i.e. growth, revenue/volume expectations, profitability and capital spending) of the U.S. flexible packaging industry over the past year.
The outlook for flexible packaging in the U.S. remains positive, despite the continued pressure that persists around packaging waste in general, and single-use plastic packaging specifically. The industry was estimated at approximately $31.8 billion in annual sales in the U.S. for 2018 with a steady growth rate of 2.7%.
Flexible packaging accounts for 19 percent of the overall packaging market and is expected to grow at a rate of 3.9 percent CAGR by 2023, according to the 2019 Flexible Packaging Marketing Assessment by PMMI, The Association for Packaging and Processing Technologies.
FPA's new report on sustainable packaging, "A Holistic View of the Role of Flexible Packaging in a Sustainable World," is now available. The report focuses on the industry segment that adds significant value to flexible materials, usually by performing multiple processes such as printing, laminating multiple layers and adding coatings. It focuses on the U.S. perspective, though global data is utilized to provide a broader picture.
According to a new research report by Global Market Insights Inc., the packaging materials market size is expanding at over 3 percent CAGR and will cross USD $1.3 trillion by 2024. Developments in the Asia Pacific food & beverage sector will be a major reason behind the market growth.
High flexibility, low weight and easy to carry will remain the top properties enhancing product penetration. Also an increase in consumer spending on energy drinks and prevalent health awareness trends will drive growth. Spout pouches are the fastest growing pouch, due to transportation ease, handling and ready to pour.
Consumer trends have contributed to a gradual replacement of rigid pack formats by flexible packaging during the last decade or so. Total flexible packaging sales were at $219.5 billion in 2016, with growth expected at an annual rate of 4.3% to $282.6 billion by 2022.
The Flexible Packaging Association (FPA) has announced the winners of its 61st Annual Flexible Packaging Achievement Awards Competition. The winning entries were recognized at the FPA Welcome Dinner & Flexible Packaging Achievement Awards Ceremony held March 1st in conjunction with the 2017 FPA Annual Meeting in Boca Raton, FL.