Flexible Packaging Report (Cont’d from Page 1)
Flexo Market News
ing, coating, extrusion, and bag/pouch manufacturing. This segment of the industry is estimated to be $24.8 billion for 2018 and does not include retail shopping bags, consumer storage bags, or trash bags. Flexible packaging represents approximately 19 percent of the total $170 billion U.S. packaging in- dustry and is the second largest packaging segment behind corrugated paper, and just ahead of bottles and miscellaneous rigid plastics packaging. Flexible packaging increased from 17 percent of the packag- ing marketplace in 2000 to the current level of 19 percent in 2018. Going Steady The industry has shown steady growth over the last 20 years with two exceptions, the downturn of 2001 due to the 9/11 terrorist attacks and the “Great Reces- sion” of 2009. For 2017-2018, FPA estimates a solid annual growth rate for total U.S. flexible packaging of 2.7 percent based on information provided by FPA members in the FPA State of the Industry Survey, by non-mem- bers in the FPA Industry-Wide Converters Survey, the Census Bureau’s latest Annual Survey of Manu- factures, and FPA’s long-term historical model of flex- ible packaging industry growth.This projection is in line with the long-term trend line of flexible packag- ing growth for 2003-2018 as the industry continues to improve from the low level experienced in 2009. The estimated growth rate of 2.7 percent is modest- ly lower than the projected gross domestic product (GDP) growth for the full year 2018, which the lat- est data indicates an overall U.S. economic growth of 2.9 percent. Vibrant Industry The U.S. flexible packaging industry employs close to 79,000 people in the United States and encompass- es a wide variety of manufacturing methods,materials, and resources.The average flexible packaging convert- er is a small to medium-size company with annual sales totaling approximately $76-$78 million. The top 100 flexible packaging companies (out of an estimated 408) account for almost 77 percent of the total industry revenue with an average size of about $245 million. The top 10 flexible packaging companies account for just more than half (53 per- cent) of flexible packaging industry revenue and have average sales of around $1.6-$1.7 billion.The majority of flexible packaging plants are concentrated in the Midwest, although many plants exist in the Southeast and California.
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12 September 16, 2019 Flexo Market News
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