DUBLIN--(BUSINESS WIRE)--The "United States Packaging Industry - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
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.
Major 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.
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.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers & Restraints
4.3 Market Drivers
4.3.1 Growing Demand for Longer-lasting Packaging Products
4.3.2 Rising Demand for Sustainable & Innovative Food Packaging Products
4.4 Market Restraints
4.4.1 Stringent Environment Regulations
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Technology Snapshot
5 MARKET SEGMENTATION
5.1 By Material Types
5.1.5 Other Material Types
5.2 By End-user Industry
5.2.4 Consumer Electronics
5.2.6 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 American Packaging Corporation
6.1.2 US Packaging, LLC
6.1.3 Amcor Limited
6.1.4 Mondi PLC
6.1.5 DS Smith PLC
6.1.6 Tetra Pak International S.A.
6.1.7 U.S. Packaging & Wrapping LLC
6.1.8 Sealed Air Corporation
6.1.9 Smurfit Kappa Group
6.1.10 Berry Global Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9ujoa