Mexico Rigid Packaging Market Size (2024 - 2029)

Mexico Rigid Packaging Market Analysis

The Mexico Rigid Packaging Market size is estimated at USD 7.10 billion in 2024, and is expected to reach USD 9.30 billion by 2029, growing at a CAGR of 5.53% during the forecast period (2024-2029).

Mexico is one of the fastest-growing markets in Latin America. Its growing Middle-Class Population and Increasing foreign direct investment further make it a potential hub for industrial aspects and ease of business in the country.

• For a range of factors, such as reduced weight, lower relative cost, design flexibility, and ease of recycling, rigid plastic packaging is frequently preferred over traditional pack types in the Mexico region.
• According to International Trade Administration, in 2021, packaging was the most significant driver of Mexico's plastics industry, accounting for 47% of market demand. Of this demand, the food and beverage industry is the major contributor to the demand for plastic bottles and jars in the region. Additionally, most plastic packaging items used in the food and beverage industry are created locally.
• The rugged and robust nature and safe handling features of plastic bottles are extensively used in packaging non-alcoholic beverages and packaged drinking water. Further, Plastic bottles are resistant to leaks and bursts, preserving the contents and the outside shipping containers.
• Owing to the growing demand for plastic packaging solutions and the increasing population of middle-class citizens in the country, leading foreign investors are working on strategic deals to capitalize on the ever-increasing market. For instance, in December 2021, Pretium Packaging, LLC ("Pretium"), a designer and manufacturer of packaging solutions for a diverse set of applications backed by Clearlake Capital Group, LP, announced to have acquired Grupo Edit, a family-owned rigid packaging manufacturer to expand its business in Mexico. The Company's plastics division manufactures bottles, carafes, thin-wall containers, jars, and closures made primarily from PET and HDPE.

Mexico Rigid Packaging Industry Segmentation

The study on Mexico's Rigid packaging market tracks demand for the major packaging format types such as rigid plastic containers, paper and paperboard, container glass, and metal cans, along with corresponding end-user industry verticals demand and revenue accrued from the sales of these rigid packaging products.

The Market is primarily segmented based on packaging material (rigid plastic containers, paper and paperboard, container glass and metal cans), end-user ( food, beverage, industrial, healthcare and pharmaceutical, and others). The market estimates are adjusted based on the assessment of the impact of COVID-19 on the market. The scope of the study is limited to Mexico Region only.