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  "documentTitle": "Avery Dennison Corporation (AVY)",
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  "presentationDate": "2020-11-10 00:00:00",
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  "notes": "Uses a 'villain' framing (Avery) and contrasts their quote with industry growth data.",
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      "text": "We believe the growth of this packaging is pressuring Avery.",
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      "text": "Flexible packaging doesn't require a self-adhesive label because everything is printed directly on the package. Packages are highly customizable, can be sealed to maintain product freshness, are reusable and believed to be ecofriendly. We believe the growth of this packaging is pressuring Avery. The last time Avery referenced flexible packaging was 2014.",
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      "text": "Respondents and industry experts estimate the global flexible packaging market will grow at a rate of 3.9% CAGR through 2023 to ~$291.6B. The flexible packaging market in the U.S. and Canada are estimated to achieve $44B by 2023. The U.S. flexible packaging market witnessed accelerated growth of 61% from 2000 through 2017 (shown right) and is projected to increase in almost all end use segments of the industry. The growth in flexible packaging is due to consumer preferences for convenient packaging, as well as industry demands for sustainable and consumer-friendly packages.",
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      "text": "We continue to see new applications choosing pressure-sensitive. On the label side, pressure-sensitive is obviously not the only choice. Some packages still use wet glue-applied paper labels, there are flexible packages like pouches, there are shrink labels, and there is direct print on containers. All of these solutions play a role in the market. But for many decades now, pressure-sensitive has been a winning technology through the superior design flexibility that it offers; flexibility that leads to superior shelf appeal and functionality.",
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      "text": "“We continue to see new applications choosing pressure-sensitive. On the label side, pressure-sensitive is obviously not the only choice. Some packages still use wet glue-applied paper labels, there are flexible packages like pouches, there are shrink labels, and there is direct print on containers. All of these solutions play a role in the market. But for many decades now, pressure-sensitive has been a winning technology through the superior design flexibility that it offers; flexibility that leads to superior shelf appeal and functionality.” — Avery Dennison Management",
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      "text": "Source: 2019 Flexible Packaging Market Assessment, The Association of Packaging and Processing Technologies",
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      "text": "Flexible Packaging Growth Means No Need For Adhesive Labels",
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