A well-known market intelligence company, Infiniti Research, has announced the completion of their recent article on key packaging industry trends poised to take off in North America. In this article, experts at Infiniti research provide a packaging industry overview of North America, and also highlights the key packaging industry trends that investors and companies in this market must be aware of.
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North America remains the leader in the global packaging industry. Although the North American packaging market faced a brief dip in 2009, the sector has bounced back to steady growth over the past couple of years. However, new packaging industry trends such as the rising need for eco-friendly and sustainable solutions are posing new challenges for companies in the sector. Also, China is poised to become a packaging industry major by 2020, and together with other markets in Asia, it will remain the industry’s top growth engine alongside North America.
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North American Packaging industry trends
Impressive growth in Mexico
Mexico is predicted to show the highest growth in the packaging industry amongst the three North American countries. One of the key packaging industry segments that is expected to show positive growth in Mexico is the soft drink beverage packaging that meets the needs of customers seeking both versatility and sophistication from their packaging.
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Success of rigid plastic packaging
Rigid plastic packaging is forecasted to show steady growth in the North American packaging market. It is also predicted that this segment will experience the highest growth rates across plastics. Furthermore, PE and PET will remain the main plastics used for consumer manufacturing.
Paperboard to lead market share
The use of paperboards suffered a steeper decline than most other packaging materials during the recession, especially in the US. However, it has recovered quickly and returned to pre-crisis levels. In the North America, paperboard holds a significant share of the overall packaging consumption.
Retail-ready packaging refers to packaging in the form of a self-contained unit that is delivered to a retailer and is immediately ready for on-shelf product display without the need for assembling or unpacking. Such packaging industry trends significantly cuts down on operation costs as the shipping-package is shelf-ready. This type of packaging is continuously gaining popularity and traction in North America.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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