U.S. flexible packaging market will grow from USD 23.72 billion in 2016 to USD 29.64 billion by 2021, at a CAGR of 4.56% from 2016 to 2021. The demand in this market is increasing owing to growth in the U.S. packaging industry. Growing consumer preferences towards convenient packaging, growing demand from the food and healthcare sectors, ease of use, and lightweight characteristics are factors driving the demand for flexible packaging. Flexible packaging manufacturers and vendors in the U.S. are continuously adding innovation to their products to protect the enterprise networks against advanced persistent threats.
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The U.S. flexible packaging market has been dominated by large players of the packaging industry, such as Bemis Company, Inc. (U.S.), Sonoco Products Company (U.S.), Sealed Air Corporation (U.S.), Berry Plastics Group, Inc. (U.S.), Coveris Holdings S.A. (U.S.), Ampac Holdings, LLC (U.S.), Tredegar Corporation (U.S.), Printpack, Inc. (U.S.), American Packaging Corporation (U.S.), and Glenroy, Inc. (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. Some of the major strategies adopted include new product launches, expansions & investments, contracts & agreements, and mergers & acquisitions.
The growth of the U.S. flexible packaging market was largely influenced by mergers & acquisitions during the past five years. A large number of developments, such as new product launches, expansions, and agreements, were also made by the top market players in 2015. Bemis Company, Inc. (U.S.), Sonoco Products Company (U.S.), Sealed Air Corporation (U.S.), Berry Plastics Group, Inc. (U.S.), and Coveris Holdings S.A. (U.S.) were some of the key players who adopted the strategy of mergers & acquisitions to expand their geographical reach and product portfolios. The U.S. flexible packaging market also witnessed several new product launches between 2011 and 2016.
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Sonoco Products Company (U.S.), a global provider of innovative and sustainable packaging solutions, launched a new easy-open quad-seal flexible bag with cross-seal technology in March 2016. This new product meets the consumer requirements for easier-to-open packaging. Sonoco also acquired 67% controlling interests in Graffo Paranaense de Embalagens S/A (Brazil) in April 2015. This acquisition enabled the company to expand its Brazilian business. Sonoco’s major focus is on innovation and new technologies that provide an edge to the company. Products offered by the company in the flexible packaging market include easy open/re-close, pouches, and stick packs. In addition to this, the company provides consumer packaging, paper & industrial converted products, display & packaging, and protective solutions. The company manufactures some of the lightest packaging products, which contributes to making packaging more sustainable.
Bemis Company, Inc., a global supplier of flexible packaging products, acquired Foshan New Changsheng Plastics Films Co., Ltd., a specialty film manufacturer located in Foshan, China in July 2013. This acquisition was aimed at providing cost and logistics benefits, and to support its Asia-Pacific growth strategy. Bemis has consistently increased its investment in R&D from 2011 to 2016. These investments have been directed towards innovation across its product line. The company caters to the packaging needs of various industries, such as food, medical, pharmaceutical, chemical, and agribusiness. It develops innovative packaging solutions that extend shelf life, ensure sterility, and add value to the products and brands manufactured.
