Industry DynamicsThe Packaging industry is still at a low-point on volumes, with competitive activity flaring higher in certain end-markets, noting that customers will inevitably push suppliers for price concessions given latent overcapacity.
Market RecoveryThe timing of a recovery remains uncertain, with de-stocking ongoing in key categories such as healthcare and North American beverages.
Segment PerformanceVolume in the rigid packaging segment declined by 4%, largely driven by North American beverage volumes falling at a high single-digit rate.