Changing lifestyles prompt more flexible packaging use in North America
New analysis from Frost & Sullivan on the North American flexible packaging market finds that the market earned revenues of $25.40 billion in 2011 and estimates this to reach $30.63 billion in 2016 at a compound annual growth rate of 3.8%. The main flexible packaging format is pouches, which are likely to remain popular during the forecast period of 2012-2016.
"While the food and beverage market is flexible packaging's largest end-user segment, healthcare has become the fastest growing," says Frost & Sullivan research analyst Tridisha Goswami. "In any application segment, product innovation geared toward effective performance, customization and sustainability is essential for the success of this market."