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Latin America Protective Packaging Market Size (2024 - 2029)

The Latin America protective packaging market is experiencing growth driven by the increasing demand from various end-user industries such as e-commerce, pharmaceuticals, and consumer electronics. The region's expanding e-commerce sector, fueled by rising internet and smartphone usage and the entry of multinational corporations, is significantly contributing to the market's expansion. Additionally, the COVID-19 pandemic has further accelerated the need for protective packaging solutions to ensure the safe transportation of critical products. This growth trend highlights the increasing market size and share of protective packaging in Latin America.

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Market Size of Latin America Protective Packaging Industry

LA
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.20 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

Latin America Protective Packaging Market Analysis

The Latin America protective packaging market is expected to register a CAGR of 6.2% during the forecast period 2020 - 2025. Protective packaging is one of the emerging packaging styles used for packaging of various ends user industry products, such as consumer electronics, pharmaceutical, and automotive, among others that safeguard and shield core product from damages during transportation or storage.

  • Latin America is one of the growing regions, which is expected to witness a significant share of the e-commerce market during the forecast periods. According to mobile payments today, in 2019, 155.5 million people in the region are expected to buy goods and services online, which is a dramatic increase from 126.8 million in 2016.
  • Also, according to fintech times, the region's e-commerce sales are predicted to rise to USD 79.7 billion in 2019 from USD 49.8 billion in 2016. The local growth of consumer preferences, rise in internet and smartphone usage, and the entrance of many MNC e-commerce players such as Amazon and Alibaba have disrupted the traditional market and leveraged e-commerce to access small and medium-sized clients. Such factors cater to the major demand for protective packaging in the region.
  • Furthermore, Smurfit Kappa has used its eSmart service to enable the leading Latin American egg provider to enter the eCommerce channel successfully. The fragile nature of eggs was a key factor in this project. They took a data-driven approach and used their eSmart service tools to design a fit-for-purpose and attractive packaging solution. It is expected that the demand for molded pulp might increase significantly with such addition in online sales.
  • Foam is used as protective packaging due to its unique shock absorbing abilities, and players such as Sonoco Protective Solutions and Nefab Group in Mexico provide various molded foam as a protective packaging material.
  • During the COVID-19 crisis, the supply chains are under unprecedented pressure, but sealed air has enabled its protective packaging products to be transported quickly and safely to end-users such as food, medicine, and other critical products that need the items most with quality and safety. Moreover, due to the outbreak of COVID-19, the market for protective packaging is witnessing significant growth owing to a rise in demand from e-commerce, pharmaceutical, and other end-user industries.

Latin America Protective Packaging Industry Segmentation

Protective packaging are materials that are built to protect and add buffer to a product from potential harm or damages/destruction while shipping or warehousing. Protective packaging can be used either as a primary packaging or secondary packaging material depending upon the products' end-use application. The scope of the market is comprehensive and is limited to Latin America.

Material Type
Plastics
Paper and Paperboard
Other Material Types
Product Type
Rigid
Molded Pulp
Paperboard-based Protectors
Insulated Shipping Containers
Flexibles (Mailers, Paper Full, and Air Pillows)
Bubble Wraps
Foam Based
End-user Vertical
Food and Beverage
Pharmaceutical
Consumer Electronics
Beauty and Homecare
Other End-user Verticals
Country
Argentina
Mexico
Brazil
Rest of Latin America
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Latin America Protective Packaging Market Size Summary

The Latin America protective packaging market is experiencing notable growth, driven by the increasing demand from various end-user industries such as consumer electronics, pharmaceuticals, and automotive. This growth is largely attributed to the region's expanding e-commerce sector, which has seen a significant rise in online shopping due to increased internet and smartphone usage, as well as the entry of major multinational e-commerce players. The demand for protective packaging is further bolstered by the need to safeguard products during transportation and storage, with innovations in packaging solutions like molded pulp and foam materials playing a crucial role. Companies such as Smurfit Kappa and Sonoco Protective Solutions are at the forefront, offering tailored packaging solutions to meet the unique needs of fragile products and perishable goods.

The market is also witnessing a shift towards sustainable packaging solutions, with a focus on reducing plastic usage and promoting recycling initiatives. This is evident in the efforts of companies like SIG and WestRock, which are actively encouraging recycling and investing in new facilities to meet the growing demand for corrugated packaging. Additionally, the COVID-19 pandemic has accelerated the demand for protective packaging, as supply chains faced unprecedented challenges, highlighting the importance of packaging in ensuring the safe delivery of essential goods. The market remains moderately fragmented, with key players engaging in strategic partnerships and product innovations to capture market share and drive growth in the region.

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Latin America Protective Packaging Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers/Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Market Drivers

      1. 1.3.1 Increasing Trend of E-Commerce

    4. 1.4 Market Challenges

      1. 1.4.1 Alternative Forms of Packaging

    5. 1.5 Assessment of Impact of COVID-19 on the market

  2. 2. MARKET SEGMENTATION

    1. 2.1 Material Type

      1. 2.1.1 Plastics

      2. 2.1.2 Paper and Paperboard

      3. 2.1.3 Other Material Types

    2. 2.2 Product Type

      1. 2.2.1 Rigid

        1. 2.2.1.1 Molded Pulp

        2. 2.2.1.2 Paperboard-based Protectors

        3. 2.2.1.3 Insulated Shipping Containers

      2. 2.2.2 Flexibles (Mailers, Paper Full, and Air Pillows)

        1. 2.2.2.1 Bubble Wraps

      3. 2.2.3 Foam Based

    3. 2.3 End-user Vertical

      1. 2.3.1 Food and Beverage

      2. 2.3.2 Pharmaceutical

      3. 2.3.3 Consumer Electronics

      4. 2.3.4 Beauty and Homecare

      5. 2.3.5 Other End-user Verticals

    4. 2.4 Country

      1. 2.4.1 Argentina

      2. 2.4.2 Mexico

      3. 2.4.3 Brazil

      4. 2.4.4 Rest of Latin America

Latin America Protective Packaging Market Size FAQs

The Latin America Protective Packaging Market is projected to register a CAGR of 6.20% during the forecast period (2024-2029)

Intertape Polymer Group Inc., Sealed Air Corporation, Sonoco Products Company, Smurfit Kappa Group plc and Crown Holdings Inc. are the major companies operating in the Latin America Protective Packaging Market.

Latin America Protective Packaging Report Snapshots

Latin America Protective Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)