US Packaging Demand to Rise 3.5% Annually in Nominal Terms to 2022
CLEVELAND, Feb. 5, 2019 /PRNewswire/ -- Demand for packaging in the US is forecast to increase 3.5% yearly in nominal terms through 2022, according to Packaging: United States, a report recently released by Freedonia Focus Reports. Advances will be driven by rising demand for high-quality food and beverage products as well as increased production of biologic pharmaceuticals, which tend to feature higher quality packaging for presentation and safety purposes, respectively. Meanwhile, meal kits will represent a boom opportunity, and tariffs on aluminum and steel represent an existential threat. In the background, industry giants Amcor and Bemis plan to combine.
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However, the long-term trend of outsourcing US manufacturing and packaging operations to developing economies that offer lower-cost production will continue to restrain faster advances for US manufacturing and industrial packaging.
These and other key insights are featured in Packaging: United States. This report forecasts to 2022 US packaging demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by market in terms of:
- foodservice disposables
- other markets such as automotive chemicals, lawn and garden consumables, and personal care products
Total shipments are segmented by material as follows:
- glass and wood
To illustrate historical trends, total demand, total shipments, and the various segments are provided in annual series from 2007 to 2017.
Pharmaceutical packaging demand is measured in terms of the value of finished packaging sold by merchant companies and produced or assembled internally by pharmaceutical manufacturers and contract packaging firms. Geographic scope of pharmaceutical packaging demand includes Puerto Rico. Most major multinational drug makers operate production facilities and consume a significant volume of packaging in that territory.
This report excludes nonliquid beverages (e.g., powdered and condensed milk), shrinkwrapped food items, tray and film combinations (such as those used in meat packaging), and pallets. Re-exports of packaging are excluded from demand and trade figures.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Packaging reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
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SOURCE The Freedonia Group