North America Flexible Vacuum Packaging Market - Forecast(2023 - 2028)

Key Takeaways 

North America Flexible Vacuum Packaging Market Segment Analysis – By Type 

The thermoplastic segment held the largest share in the North America flexible vacuum packaging market in 2021 and is forecasted to grow at a CAGR of 3.4% during the forecast period 2022-27. Flexible vacuum packaging manufacturers prefer thermoplastic materials such as polyester, polyvinyl chloride, polypropylene, and more, over alternative packaging materials due to their inexpensive production and processing costs. In the flexible vacuum packaging sector, soft and pliable films are utilized for packaging products related to food& beverage, pharmaceuticals, and more. Furthermore, thermoplastic materials such as polyethylene have the lowest softening point among the core packaging plastics. The lower softening point results in lower production energy costs. Thus, due to these factors, the adoption of thermoplastics is increasing, which is aiding the market growth in North America.

North America Flexible Vacuum Packaging Market Drivers 

Flexible vacuum packaging provides protection against environmental variables, providing higher durability. It also protects against accidental spills or splatters that are typical in fast-paced medical contexts. As a result of these advantages, flexible vacuum packaging is frequently employed in medical devices. Factors such as technological improvements in medical equipment and an aging population are accelerating the medical device industry growth in the North American region. For instance, according to the International Trade Administration (ITA), in 219, the Mexican medical device market was valued at US$15.27 billion, and in 2020, it was US$16.80 billion, an increase of 10%. Moreover, Canada is the world's eighth-largest medical device market, valued at around USD$8.6 billion in 2020. Thus, the growth of the medical device industry in North America is boosting the demand for flexible vacuum packaging, which, in turn, is driving the market growth. 

Polyamide is employed in flexible vacuum packaging because it has superior clarity, adaptability, higher thermoforming ability, and low shrinkage qualities. Polyamide is a common resin used in the manufacture of flexible packaging films, and it is usually paired with polyolefin as a multilayer structural component. Furthermore, polyamides have strong puncture resistance, impact strength, and temperature resistance, as well as ideal qualities for gas barriers, making them popular in the vacuum packaging business. The polyamide manufacturers made in North America are adopting the strategy of new product launches, which is benefiting the market growth. For instance, in September 2019, Ascend Performance Materials, based in the U.S, launched several new specialty polyamides at K 2019 to fulfill the expanding needs of its customers. Vydyne XHT, long-chain polyamides, and high-temperature polyamides are some of the new products for the packaging industry. Hence, due to such benefits of polyamides, their application in flexible vacuum packaging is increasing, which is accelerating the market growth 

North America Flexible Vacuum Packaging Market Challenges 

The materials such as polyvinylidene chloride, low-density polyethylene, and more have advantages of higher durability, this results in the enhanced shelf life of flexible vacuum packaging. However, plastic landfills are expanding due to mass production related to plastic-based flexible vacuum packaging. For instance, according to UN Environment, just 9% of plastic is recycled, with the remainder ending up in landfills, dumps, and the natural environment. Governments have established norms and procedures for wrap recycling. For instance, the U.S. Environmental Protection Agency (EPA) announced the National Recycling Strategy in November 2021, reiterating the objective of increasing the United States' recycling rate to 50% by 2030. The Strategy defines strategic objectives and measures required to build a better, more resilient, and cost-effective municipal solid waste recycling system in the United States. All of these factors are creating a significant impediment to the North America flexible vacuum packaging market expansion. 

North America Flexible Vacuum Packaging Industry Outlook 

Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the North America flexible vacuum packaging market. North America flexible vacuum packaging top 10 companies are: 

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