According to the report published by Allied Market Research, the North America liquid packaging market generated $93.1 billion in 2019, and is estimated to reach $137.1 billion by 2027, registering a CAGR of 5.4% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in demand for FMCG goods, and growing demand for sustainable as well as lighweight packaging drive the growth of the North America liquid packaging market. However, increase in concern regarding disposability and recyclability of plastic packaging products restrains the market growth. Furthermore, development of nano-food packaging is expected to provide new growth opportunities for the market player in near future.
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Covid-19 scenario:
- The demand for liquid packaging has been surged during the Covid-19 pandemic due to increase in its usage for packaging of FMCG products such as sanitizer, hand washes, and liquid detergents.
- In addition, its demand from pharmaceutical industry has also been surged during the Covid-19 pandemic for packaging of dietary supplements, such as vitamins, and other essential supplies, such as allergy medication.
The report offers a detailed segmentation of the North America liquid packaging market based on resin, packaging type, technology, end-user, and country.
Based on resin, the polyethylene segment contributed to the largest share in 2019, accounting for nearly one-third of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, the segment is estimated to portray the highest CAGR of 6.6% during the forecast period.
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Based on packaging type, the rigid segment accounted for the largest share in 2019, holding more than three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the flexible segment is expected to register the highest CAGR of 7.6% from 2020 to 2027.
Based on country, U.S. contributed the highest share, accounting for more than three-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, the region is expected to grow at the highest CAGR of 6.2% from 2020 to 2027.
Leading market players analyzed in the research include Berry North America, Amcor Limited, Goglio S.p.A., Constantia Flexibles, ProAmpac, Mondi Plc, Sealed Air Corporation, Reynolds Group Holdings Ltd., Sonoco Products Company, and Sealed Air Corporation.