North America Food Packaging Market Size, Share & Trends Analysis Report By Type (Rigid, Flexible), By Material (Plastic, Paper & Paper-based, Metal, Glass), By Application, By Country, And Segment Forecasts, 2020 - 2028
North America Food Packaging Market Growth & Trends
The North America Food Packaging market size is expected to reach USD 135.52 billion by 2028. It is expected to expand at a CAGR of 4.9% from 2020 to 2028. The market is anticipated to be driven by a surge in demand for food delivery services, coupled with the rapid growth in single-serve and portable food packs.
Plastic packaging products are affordable and offer robust barrier properties, which contribute to their widespread penetration in the food and beverage industry. With the increasing government intervention in plastic product manufacturing, producers operating in the plastic food packaging market are making efforts to offer products using eco-friendly and sustainable raw materials.
The hectic work schedules of consumers and the increased demand for convenient food options drive the market for packaged food items in North America. Moreover, the flourishing e-commerce industry in different countries of the region such as Canada and Mexico is fueling the sales of packed food items across the region.
The extensive presence of large-sized packaged food companies with a robust penetration of distribution channels, such as supermarket and hypermarket chains, in North America is expected to contribute to the growth of food packaging types, such as trays, containers, pouches, and bags, during the forecast period.
North America Food Packaging Market Report Highlights • By material, the paper and paper-based food packaging material segment is expected to expand at the highest CAGR of 5.5% during the forecast period owing to the increasing demand for biodegradable and more sustainable packaging solutions
• By type, under the flexible segment, the pouches segment is expected to witness the highest growth from 2020 to 2028 as they occupy lesser space during transportation, consume less plastic material, and present a better sustainability profile in comparison to their rigid counterparts
• The rigid type segment accounted for the largest revenue share in 2020. The high adoption of rigid packaging products, such as bottles and jars, trays and containers, and caps and closures, owing to their durability and property of offering high protection to food and beverage products is contributing to the segment growth
• Based on application, the packaged food segment accounted for the largest revenue share of over 70.0% in 2020. The high demand for packaged foods owing to the change in consumer lifestyle has driven the segment in recent years and the trend is expected to continue over the forecast period
• The market is steadily moving toward sustainable packaging owing to the rising stringent regulations on the use of excessive plastic packaging, coupled with the growing awareness regarding sustainability among consumers
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110 pages •
By Future Market Insight Global & Consulting Pvt Ltd
• Apr 2015
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