Latin America Flexible Plastic Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 2.10 Million tons |
| Market Volume (2029) | 2.65 Million tons |
| CAGR (2024 - 2029) | 4.76 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Flexible Plastic Packaging Market Analysis
The Latin America Flexible Plastic Packaging Market size in terms of shipment volume is expected to grow from 2.10 Million tons in 2024 to 2.65 Million tons by 2029, at a CAGR of 4.76% during the forecast period (2024-2029).
Flexible packaging uses non-rigid materials like plastic to create pouches, films, and wraps, which are more economical and customizable. The increasing demand for flexible plastic packaging in the food and beverage, pharmaceutical, and personal care industries is propelling the market growth.
Flexible plastic packaging allows more customizable and economical options for packaging various products. The development of new drugs and antibiotics in the Latin American pharmaceutical industry has propelled the demand for flexible plastic packaging solutions such as pouches and laminated rollstock films.
The Latin American flexible plastic packaging market is on a growth trajectory driven by economic development, increased globalization, and rising disposable income of the population. The growing demand for packaged and snacked foods in Mexico and Brazil has propelled the need for airtight packaging, contributing to the increasing shelf-life of various products. According to data from the United States Department of Agriculture (USDA), exports of overall processed foods from the United States to Mexico were valued at USD 5.86 billion in 2023.
Flexible plastic packaging solutions have gained popularity due to their lightweight and cost-effective features among consumers, which has driven the market growth. Manufacturers of flexible plastic packaging solutions in Latin America are ramping up their production capacities to meet the surging consumer demand.
For instance, in April 2024, Sonoco Products Company, a US-based firm, inaugurated a new protective packaging plant in Mexico. This move is poised to bolster the company's footprint in the Latin American protective packaging market.
Recycling and environmental concerns for plastics can hamper the flexible plastic packaging market in Latin America. Plastic packaging substantially contributes to plastic pollution, thus increasing consumer demand for bio-degradable and eco-friendly packaging in Latin America.
Latin America Flexible Plastic Packaging Market Trends
The Food End-Use Industry to Account for Highest Market Share
- The food industry in Latin American countries, notably Brazil, Mexico, and Argentina, is on the rise. This growth is fueled by a burgeoning domestic market and robust export volumes. A key driver is the expanding working population, which is increasingly turning to packaged and frozen foods due to time constraints, further boosting market demand.
- The trend toward stand-up pouches in food and confectionery packaging is gaining traction. These pouches, suitable for solids, liquids, or powders, are favored for their lightweight nature, flexibility, and superior protection against moisture and oxygen. A recent example of this trend is the partnership between Swiss multinational SIG Group and DPA Brazil, where they introduced spout packaging for the Chamyto brand of yogurt in March 2024.
- Many companies are ramping up their manufacturing capabilities for flexible packaging, further driving market growth. For instance, in November 2023, PAC Worldwide Corporation, based in the United States, expanded its Mexico operations into an 83,000 sq. ft plant. This move positioned PAC to produce a range of packaging products, from pouches to films and wraps, with a focus on enhancing its food-grade packaging offerings.
- In Brazil, the demand for food processing products is surging, buoyed by a growing population and escalating export figures for food ingredients. Data from the Brazilian Food Processors Association (ABIA) revealed that the country's food processing industry witnessed a 7.2% growth in 2023 compared to the previous year.
Mexico is Expected to have the Largest Market Share
- Mexico's flexible plastic packaging industry is witnessing robust growth, offering innovative solutions to diverse packaging challenges. The surge in end-user industries like food and beverage, healthcare, cosmetics, and personal care is fueling the demand for flexible plastic packaging in the nation.
- Urbanization and hectic work schedules are steering consumers toward ready-to-eat meals packaged in flexible pouches. Moreover, the increasing appetite for on-the-go snacks is driving the necessity for re-closable stand-up pouches, enhancing consumer convenience. Evolving consumer lifestyles, food preferences, and advancements in food technology are further propelling the demand for the market.
- According to the United States Department of Agriculture (USDA), Mexico is the tenth largest food producer globally. The expanding food processing industry in Mexico, encompassing processed meats, dairy, and confectionaries, is not only meeting domestic demands but also setting the stage for significant export opportunities, thereby bolstering market growth.
- Mexico stands as the 15th largest pharmaceutical market worldwide and the second in Latin America. Pouches and blister packs, predominantly crafted from bi-oriented polypropylene (BOPP), are gaining traction in pharmaceutical packaging. Data from Mexico's Secretariat of Economy indicates a projected 7.02% growth in pharmaceutical sales for 2023 compared to the previous year.
Latin America Flexible Plastic Packaging Industry Overview
The market for flexible plastic packaging in Latin America is moderately consolidated, with the presence of large, medium, and small-sized companies vying for high market share. The companies, including Amcor PLC, Berry Global Inc., and Sonoco Products Company, aim toward new product development, mergers and acquisitions, or expansions in the Latin American market for higher revenue.
In April 2023, Amcor PLC announced that the Amcor Flexibles manufacturing plant in Brazil was the first plant in Latin America to achieve International Sustainability and Carbon Certification (ISCC) status. The certification allows Amcor's largest plant in Latin America to use advanced recycling materials across its product portfolio.
In December 2023, Sonoco Products Company announced the acquisition of Inapel Embalagens Ltda, a Brazil-based company. The acquisition is expected to expand Sonoco's presence in the flexible packaging industry in Latin America.
Latin America Flexible Plastic Packaging Market Leaders
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Amcor PLC
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Berry Global Inc.
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Sonoco Products Company
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ALPLA Group
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Huhtamaki Oyj
*Disclaimer: Major Players sorted in no particular order
Latin America Flexible Plastic Packaging Market News
May 2024: The France-based company Arkema made headlines by acquiring the flexible packaging business of Dow Inc., a US firm. This strategic move is set to significantly broaden Arkema's offerings in the flexible packaging industry.
September 2023: SS Polymer and Films, an Indian player in the flexible packaging industry, announced its expansion into the Latin American and Middle Eastern markets. This marked a pivotal moment for the company, signaling a substantial leap in its global footprint. The move is poised to not only attract a broader clientele but also fuel the company's growth trajectory.
Latin America Flexible Plastic Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Food and Beverage Sector to Propel Demand for Flexible Plastic Packaging Solutions Packaging
5.1.2 Boost in the Pharmaceutical Industry in Latin American Countries to Drive the Demand for Flexible Plastic Packaging Solutions
5.2 Market Challenge
5.2.1 Rising Demand for Eco-friendly and Sustainable Packaging Options to Hamper Market Growth
6. Trade Scenario
6.1 EXIM Data Based on Product Type and Plastic Resins
6.2 Trade Analysis (Top 5 Import-Export Countries, Price Analysis, and Key Ports, among others)
7. Pricing Trend Analysis
7.1 Plastic Resins (Current Pricing and Historic Trends)
7.2 Product Type (Key Packaging Formats)
8. Packaging Cost Analysis
9. MARKET SEGMENTATION
9.1 By Material Type
9.1.1 Polyethylene (PE)
9.1.2 Bi-oriented Polypropylene (BOPP)
9.1.3 Cast Polypropylene (CPP)
9.1.4 Polyvinyl Chloride (PVC)
9.1.5 Ethylene Vinyl Alcohol (EVOH)
9.1.6 Other Material Types (Polycarbonate, PHA, PLA, Acrylic, and ABS)
9.2 By Product Type
9.2.1 Pouches
9.2.2 Bags
9.2.3 Films and Wraps
9.2.4 Other Product Types
9.3 By End-use Industries
9.3.1 Food
9.3.1.1 Frozen Food
9.3.1.2 Dry Food
9.3.1.3 Meat, Poultry, and Sea Food
9.3.1.4 Candy & Confectionery
9.3.1.5 Pet Food
9.3.1.6 Fresh Produce
9.3.1.7 Dairy Products
9.3.1.8 Other Foods (Dairy Products, Frozen Food, and Fresh Produce such as Fruits and Vegetables)
9.3.2 Beverage
9.3.3 Personal Care and Household Care
9.3.4 Medical and Pharmaceutical
9.3.5 Other End user Industries ( Automotive, Chemical, Agriculture)
9.4 By Country***
9.4.1 Brazil
9.4.2 Mexico
9.4.3 Colombia
10. COMPETITIVE LANDSCAPE
10.1 Company Profiles
10.1.1 Galas De Mexico
10.1.2 Videplast
10.1.3 Amcor PLC
10.1.4 Huhtamaki Oyj
10.1.5 Sonoco Products Company
10.1.6 Sealed Air Corporation
10.1.7 Berry Global Inc.
10.1.8 Pack Efficient Sapi DE CV Mexico
10.1.9 ALPLA Group
10.1.10 Zubex
- *List Not Exhaustive
11. Competitor Analysis - Emerging vs. Established Players
12. Heat Map Analysis
13. RECYCLING & SUSTAINABILITY LANDSCAPE
14. FUTURE OF THE MARKET
Latin America Flexible Plastic Packaging Industry Segmentation
The study on the flexible plastic packaging market tracks demands in terms of revenue for flexible plastic packaging by material and tracks the market size for respective end-user types. The estimates for the flexible plastic packaging market include all the costs associated with flexible plastic packaging manufacturing, from raw material procurement to end-use industries. The estimates exclude the cost of the content that is or is to be packed inside the flexible plastic packaging. The scope of the flexible plastic packaging market is limited to B2B demand. Market numbers have been arrived at using both bottom-up and top-down approaches for segmentation, and volume has also been taken into consideration.
The Latin America Flexible Plastic Packaging Market Report is Segmented by Material (Polyethene [PE], Bi-Oriented Polypropylene [BOPP], Cast Polypropylene [CPP], Polyvinyl Chloride [PVC], Ethylene Vinyl Alcohol [EVOH], and Other Material Types [Polycarbonate, PHA, PLA, Acrylic, and ABS]), Product Type (Pouches, Bags, Films and Wraps, and Other Product Types), End-User Industry (Food [Frozen Food, Dry Food, Meat, Poultry, and Sea Food, Candy & Confectionery, Pet Food, Dairy Products, Fresh Produce and Other Food (Seasonings & Spices, Spreadables, Sauces, Condiments, etc.)], Beverage, Medical and Pharmaceutical, Personal Care and Household Care, and Other End User Industry [Automotive, Chemical, Agriculture ]), and Country (Mexico, Brazil, Colombia, and Rest of Latin America). The market sizes and forecasts are provided in terms of volume (tonnes) for all the above segments.
| By Material Type | |
| Polyethylene (PE) | |
| Bi-oriented Polypropylene (BOPP) | |
| Cast Polypropylene (CPP) | |
| Polyvinyl Chloride (PVC) | |
| Ethylene Vinyl Alcohol (EVOH) | |
| Other Material Types (Polycarbonate, PHA, PLA, Acrylic, and ABS) |
| By Product Type | |
| Pouches | |
| Bags | |
| Films and Wraps | |
| Other Product Types |
| By End-use Industries | ||||||||||
| ||||||||||
| Beverage | ||||||||||
| Personal Care and Household Care | ||||||||||
| Medical and Pharmaceutical | ||||||||||
| Other End user Industries ( Automotive, Chemical, Agriculture) |
| By Country*** | |
| Brazil | |
| Mexico | |
| Colombia |
Latin America Flexible Plastic Packaging Market Research FAQs
How big is the Latin America Flexible Plastic Packaging Market?
The Latin America Flexible Plastic Packaging Market size is expected to reach 2.10 million tons in 2024 and grow at a CAGR of 4.76% to reach 2.65 million tons by 2029.
What is the current Latin America Flexible Plastic Packaging Market size?
In 2024, the Latin America Flexible Plastic Packaging Market size is expected to reach 2.10 million tons.
Who are the key players in Latin America Flexible Plastic Packaging Market?
Amcor PLC, Berry Global Inc., Sonoco Products Company, ALPLA Group and Huhtamaki Oyj are the major companies operating in the Latin America Flexible Plastic Packaging Market.
What years does this Latin America Flexible Plastic Packaging Market cover, and what was the market size in 2023?
In 2023, the Latin America Flexible Plastic Packaging Market size was estimated at 2.00 million tons. The report covers the Latin America Flexible Plastic Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Flexible Plastic Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Flexible Plastic Packaging Industry Report
Statistics for the 2024 Latin America Flexible Plastic Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Flexible Plastic Packaging analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
