Market Trends of North America Flexible Packaging Industry
Food to Holds Major Share
The food industry dominates the North America Flexible Packaging Market, representing a 52.60% market share in 2023. This segment is expected to grow from USD 25.50 billion in 2023 to USD 31.12 billion by 2029, with a steady CAGR of 3.27%.
- Convenience and lifestyle demands: Modern, fast-paced lifestyles are boosting demand for convenient, easy-to-prepare food, driving flexible packaging needs, particularly for plastic stand-up pouches.
- Eco-friendly packaging innovations: Sustainability is shaping product development, as seen with JBM Packaging’s HydroBlox, which boasts 200% greater water resistance than standard paper packaging.
- Seasonal confectionery sales: Packaging demand from the confectionery industry is influenced by major holidays like Halloween, Easter, and Valentine's Day, driving innovation in seasonal packaging designs.
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Canada to Witness Major Growth
Canada is emerging as the fastest-growing region within the North America Flexible Packaging Market, with a projected CAGR of 5.27% from 2024 to 2029. The market is expected to grow from USD 6.10 billion in 2023 to USD 8.35 billion by 2029.
- Growth in paper-based packaging: Canada is seeing strong expansion in paper-based packaging products, supported by projections from the FAO that the country’s paper production capacity will reach 10.62 million metric tons by 2024.
- Industry and government support: Organizations like the Forest Products Association of Canada (FPAC) are driving the adoption of flexible, recyclable packaging solutions through advocacy and support for the wood, pulp, and paper industries.
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