Novel Products, Steady Growth

At the recent Flexible Packaging Association (FPA) annual meeting held in February, predictions for segment growth topped 4 percent. James Mize, FPA chairman, and vice president, global sector—food packaging solutions for Sealed Air Corporation, highlighted information from FPA's State of the Flexible Packaging Industry Report. Projected growth in 2012 is 4.5 percent, with higher volumes, but relatively flat profits overall. In a presentation on "Growth Opportunities for U.S. Flexible Packaging," Jeff Bornstein, vice president for business research firm SAI Industrial, LLC, predicted the U.S. flexible packaging segment growing at a 4.2 percent compound annual growth rate (CAGR) from 2010 to 2015, with a $30.1 billion segment in 2015. He also noted another strength of the flexible packaging market—its strong position in food categories. More than 55 percent of flexible packaging is used in the relatively stable food markets.