North American consumer packaging market is estimated to grow at a CAGR of 3.8% during the forecast period. Expansion of the e-commerce industry is boosting the market growth. As per the US Census Bureau, in the Q1 2020, the US retail e-commerce sales was $160.3 billion, a rise of 2.4% from the Q4 2019. The Q1 2020 e-commerce estimate rose 14.8% from the Q1 of 2019 while total retail sales rose 2.1% in the same period. In the Q1 of 2020, e-commerce sales accounted for 11.8% of total sales. The region has a significant presence of major e-commerce players such as Amazon, eBay, and Walmart. Amazon has a well-established presence in several parts of the world, with comprehensive fulfilment centre’s and potential customer base.
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As a large number of consumers embracing online shopping, packaging continues to have a key role to provide superior e-commerce experience for both the brand and the consumers. Brands are focusing on re-assess packaging of their products as per the requirements of the online shopper. Corrugated boxes are the most common and extensively used packaging material in the e-commerce sector, as it features high durability, strength, and is generally recyclable. Shifting trend towards sustainable packaging is also a key contributor to the adoption of highly recyclable packaging solutions in the e-commerce sector. Other major driving factors in the market include rising demand for flexible packaging and significant growth in the pharmaceutical industry.
Scope of the North American Consumer Packaging Market
Market Coverage
- Market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Material and End-User
- Countries Covered- US and Canada
- Competitive Landscape- Berry Global Group, Inc., Crown Holdings, Inc., Ball Corp., Sealed Air Corp., and Graham Packaging Co.
Recent Developments in the North American Consumer Packaging Market
- In January 2020, TricorBraun acquired Minneapolis-based Packaging Solutions, Inc. (PSI), a distributor of rigid packaging distributor that serves several markets, such as personal care, pharmaceutical, and pet food. PSI has 25 years of packaging expertise, with a reputation in stellar packaging and established customer relationships. This acquisition strengthens the position of TricorBraun in the Minneapolis market, offering additional warehouse for constant growth.
- In July 2019, Berry Global Group, Inc. acquired RPC Group Plc (RPC), a supplier of plastic packaging. The acquisition of RPC will provide the opportunity for Berry to accelerate its combined expertise in advanced material science, manufacturing technologies, and product development, to create significant value for its shareholders. With this mutual approach, Berry anticipates nearly $150 million in annual synergies.
North American Consumer Packaging Market-Segmentation
By Material
- Plastic
- Paper
- Glass
- Metal
By End-User
- Food
- Beverage
- Healthcare
- Personal Care and Cosmetics
- Household Goods
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
