In the next five years flexible packaging will grow into a $25 billion business in North America.
In 2013 the market totaled $20.7 billion. 88 percent of those sales were from the United States, 7 percent were from Canada and 5 percent were from Mexico, according to a report by PCI Films Consulting Ltd.
North America represents about 30 percent of the global consumption of flexible packaging.
Annual growth is expected to grow at a rate of 4 percent during the next five years in North America.
"While the economic slowdown adversely impacted the flexible packaging industry's profitability, volume growth has continued to be sustained by servicing primarily defensive markets such as food, pharmaceuticals and pet food," PCI consultant Paul Gaster said in a statement.
Source: Plastics News