Label Summit (Cont’d from Page 1) bags,consumer storage bags, and wraps and trash bags. The focus of this report is on the segment of the in- dustry that adds value to the flexible materials, usual- ly by performing multiple processes, such as printing, laminating, coating, extrusion, and bag/pouch manu- facturing.This segment of the industry is estimated to be $26.2 billion for 2019 and does not include retail shopping bags, consumer storage bags, or trash bags. Long-Term Outlook Flexible packaging represents approximately 19 per- cent of the total $177 billion U.S. packaging industry and is the second largest packaging segment behind corrugated paper, and just ahead of bottles and miscel- laneous rigid plastics packaging. Flexible packaging’s solid long-term strength coupled with flexibles’ ability to replace other packaging formats has resulted in the growth of flexible packaging, increasing from 17 per- cent in 2000 to the current level of 19 percent in 2019. For 2018-2019, FPA estimates a solid annual growth rate for total U.S. flexible packaging of 2.2 percent based on information provided by FPA members in the FPA State of the Industry Survey, by non-members in the FPA Industry-Wide Converters Survey, the Cen- sus Bureau’s latest Annual Survey of Manufactures, and FPA’s long-term historical model of flexible pack- aging industry growth.This projection is in line with the long-term trend line of flexible packaging growth for 2003-2019 as the industry continues to improve from the low level experienced in 2009.The estimated growth rate of 2.2 percent is slightly lower than the projected gross domestic product (GDP) growth for the full year 2019, which the latest data indicates an overall U.S. economic growth of 2.3 percent. A Wide Variety Of Methods 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 $73-$75 million. The top 100 flexible packaging companies (out of an estimated 453) account for 81 percent of the total industry revenue with an average size of $248 million. The top 10 flexible packaging companies account for just more than half (59 percent) of flexible packaging industry revenue and have average sales of $1.7-$1.8 billion. The majority of flexible packaging plants are concen- trated in the Midwest, although many plants exist in the Southeast and California.
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