According to a new report from ResearchAndMarkets.com, the flexible packaging market in North America is deemed to attain a Compound Annual Growth Rate of 4.17 percent in revenue and 3.48 percent in volume over the forecasting years from 2022 to 2028. The United States and Canada shape the market in the region.
In the United States, the rising demand for flexible packaging has compelled market players to invest heavily in product innovation.
Furthermore, the increasing e-commerce industry has boosted the demand for convenient packaging solutions. The growing product innovations are expected to widen the scope of the flexible packaging market.
The Canadian flexible packaging market is primarily driven due to the rapidly-developing packaging & frozen food industry.
The food & beverage processing industry is the second largest sector in the country, accounting for 17 percent of the overall manufacturing shipment as well as 2 percent of Canada’s gross domestic product.
Furthermore, the rising adoption of organic food, integrated with the increase in health consciousness and the need for convenient and ready-to-use food, has further influenced the demand and increasing utility of flexible packaging in Canada.