A new analysis by market research firm TechNavio reveals that the containers and packaging market in the United States is set for growth over the next few years, with a compound annual growth rate of 2.7 percent projected through 2016.
The report identifies several factors that are expected to contribute to the growth of the market. One of the most influential ones is the increasing U.S. demand for packages that are convenient and can be used for various applications. Another key element that is predicted to influence the development of the market is the rising demand for plastic materials in packaging and containers.
On the other hand, there are also factors that are expected to restrict the potential for faster growth. TechNavio predicts that fragmentation of the market is likely to have an adverse effect on the prospects for growth of the market.
The report, titled Containers and Packaging Market in the US 2012-2016, focuses on the domestic market and examines the market in-depth, using data compiled from a number of industry experts, vendors and consumers, as well as industry publications, company reports and data published by government agencies, TechNavio explained.
Projections for the development of the market by segments, like products and materials, are also featured in the report, including paperboard, glass, rigid plastics and flexible plastics containers and packaging.