North America Plastic Food Packaging Market: Current Analysis and Forecast (2022-2030)
$3999 – $6999
Emphasis on Packaging Type (PET (Polyethylene terephthalate), PP (Polypropylene), HDPE (High-Density Polyethylene), and Others); Product Type (Cups & Bowls, Food Trays, And Others); Food Type (Pet Food, Dairy Products, Fruits & Vegetables, Sauces & Dressings, Baby Food, Bakery and Confectionery, And Others); and Country
The North America Plastic Food Packaging Market was valued at USD 50 bn in 2021 & is expected to grow at a CAGR of 4.4% from 2022-2028. Owing to the expanding size of the food and beverages industry due to the changing eating habits and the quickening pace of life significantly boosting the plastic food industry. In addition, the growing use of consumer-packed goods is also one of the major factors which are the key factors which boost the adoption of inorganic growth strategies such as product launches, investments, mergers, acquisition, etc among key industry players. For instance, In 2021, Huhtamaki announced that it had acquired Elif, a manufacturer of flexible plastic packaging products including cups and lids.
Moreover, increasing penetration of e-retail is the key factor that boosts the adoption of inorganic growth strategies among key industry players around the globe. For instance, in June 2022, SIG completed the acquisition of Scholle IPN, a flexible packaging solution provider with an enterprise value of USD 1.53 billion. The acquisition is expected to enable SIG to offer sustainable, low-carbon packaging solutions across a broad range of categories and product sizes..
Some of the major players operating in the market include ALPLA, Amcor plc, Bemis Manufacturing Company, Berry Global Inc, Silgan Holdings Inc, Coveris, Graham Packaging Company, Greiner Packaging, PLASTIPAK HOLDINGS, INC, Printpack.
Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product Types, the cups& bowl segment held a highest share of the market in 2021”
Based on product type, the North America Plastic Food Packaging Market is divided into cups & bowls, food trays, and others. The cups and bowel segment accounted for a significant market share in 2021 and it is estimated that it will grow rapidly during the projected timeframe. Cups and bowls are widely used for a variety of food and beverage applications, including hot and cold drinks, soups, salads, and desserts. The cups and bowel segment is boosting due to the convenience of carrying them anywhere. Also, the COVID-19 pandemic has led to a surge in demand for single-use cups and bowls, as consumers are increasingly concerned about hygiene and safety which in turn has positively impacted the manufacturers to expand their cups and bowl production.
“Amongst Food Type, the dairy products held the majority share of the market in 2021”
Based on food type, the market is fragmented into pet food, dairy products, fruits & vegetables, sauces & dressings, baby food, bakery and confectionery, and others. The dairy products segment accounted for a significant market share in 2021 and it is estimated that it will grow rapidly during the projected timeframe. The rising demand for dairy products and increased consumption of packaged foods are the main factors boosting the growth of the dairy product segment. Moreover, growing consumer preference for sustainable packaged food is positively impacting the manufacturers to develop new plastic for dairy products as well. For instance, in 2021, dairy cooperative Arla Foods announced that it had developed a new type of plastic cheese packaging that uses 40% less plastic and is fully recyclable.
“United States dominated the North America Plastic Food Packaging market in 2021”
The United States plastic food packaging market is growing at a significant rate in the region. Plastic packaging is majorly preferred for food as it protects against contamination, preservation, and transportation flexibility. Moreover, the growing demand for recyclable plastic is escalating the demand for PET packaging in the food industry. Furthermore, the rise in online food ordering and home delivery services has led to a boost in demand for plastic food packaging. In addition, the increasing popularity of online packaged and processed foods is the key factor that is boosting the development of new plastic packaging trends. Hence, key players are acquiring new plastic packaging for e-commerce. For instance, In 2021, Berry Global Inc. announced that it had completed the acquisition of Laddawn, a manufacturer of specialty films and bags. This acquisition expanded Berry’s product offerings in the plastic packaging market, particularly in the areas of e-commerce and industrial packaging.
North America Plastic Food Packaging Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the North America Plastic Food Packaging Market|
|2.2.||Research Methodology of the North America Plastic Food Packaging Market|
|5||IMPACT OF COVID-19 ON THE NORTH AMERICA PLASTIC FOOD PACKAGING MARKET|
|6||NORTH AMERICA PLASTIC FOOD PACKAGING MARKET REVENUE, 2020-2030F|
|7.1.||PET (Polyethylene terephthalate)|
|7.3.||HDPE (High-Density Polyethylene)|
|8.1.||Cups & Bowls|
|9.3.||Fruits & Vegetables|
|9.4.||Sauces & Dressings|
|10.1.3.||Rest of North America|
|12||NORTH AMERICA PLASTIC FOOD PACKAGING MARKET OPPORTUNITIES|
|13||NORTH AMERICA PLASTIC FOOD PACKAGING MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|17.1.1.||Porters Fiver Forces Analysis|
|18.4.||Berry Global Inc|
|18.5.||Silgan Holdings Inc|
|18.7.||Graham Packaging Company|
|18.9.||PLASTIPAK HOLDINGS, INC|
Research Methodology for the North America Plastic Food Packaging Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the North America Plastic Food Packaging market were the three major steps undertaken to create and analyze the adoption of Plastic Food Packaging in major countries in the region. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the North America Plastic Food Packaging market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the North America Plastic Food Packaging market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the North America Plastic Food Packaging market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as packaging type, product type & food type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the North America Plastic Food Packaging market. Further, we conducted factor analysis using dependent and independent variables such as packaging type, product type & food type of the North America Plastic Food Packaging market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the North America Plastic Food Packaging market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the North America Plastic Food Packaging market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the North America Plastic Food Packaging market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global North America Plastic Food Packaging market in terms of technology offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the North America Plastic Food Packaging market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the packaging type, product type & food type in the North America Plastic Food Packaging market.
The main objective of the North America Plastic Food Packaging Market Study
The current & future market trends of the North America Plastic Food Packaging market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the North America Plastic Food Packaging market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the packaging type, product type & food type.
- Define and analysis of the regulatory framework for the North America Plastic Food Packaging industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the North America Plastic Food Packaging market for the major region
- Major countries of regions studied in the report include United States, Canada, and Rest of North America
- Company profiles of the North America Plastic Food Packaging market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry