The ‘Latin America Flexible Packaging Market Price, Size, Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Latin America flexible packaging market, assessing the market on the basis of its segments like product, raw material, printing technology, application, and country.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Latin America Flexible Packaging Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 8,254.95 million
- Forecast CAGR (2023-2028): 2.94%
- Forecast Market Size (2028): USD 9,799.52 million
Economic development in various countries in Latin America, rising disposable income, and growing globalisation are driving the growth of the Latin America flexible packaging market. Improvements in purchasing power and product availability are resulting in a surge in demand for and availability of food and beverages, cosmetics, and pharmaceuticals, among others.
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Flexible packaging has emerged as a convenient and low cost means of packaging different items, thereby reducing production costs which facilitates final product sale at lower prices. Depending upon the contents of the packaging, their weight, and protection requirements, flexible packaging can be customised. Capable of airtight packaging and resistance to various contaminants, flexible packaging also aids in extending the shelf-life of different products.
Increasing trade between countries within the Latin America region and outside the area are further bolstering the Latin America flexible packaging market. Flexible packaging is lightweight and convenient, making it easier to ship various products across distances. Details and instructions can also be printed on the outside of the flexible packaging, which improve usability and also enhance branding.
The rising demand for preformed bags and pouches are likely to aid the Latin America flexible packaging market development in the coming years. These bags and pouches are easy to carry, sturdy, and availability in a wide range of sizes and shapes. As they are produced in large volumes, costs are relatively low, leading to greater demand.
Latin America Flexible Packaging Industry Definition and Major Segments
Flexible packaging is any type of packaging that is bendable and non-rigid, while still providing adequate protection to contents. Various materials such as foils, resins, and paper are used to produce flexible packaging, with specific components depending upon the characteristics required from the packaging. Flexible packaging tends to be lightweight and low-cost and can be customised as needed.
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Based on product, the market is divided into:
- Printed Rollstock
- Preformed Bags and Pouches
- Others
On the basis of raw material, the market is segmented into:
- Film
- Resin
- Foil
- Paper
- Inks, Coating and Adhesive
- Others
By printing technology, the market is classified into:
- Flexography
- Rotogravure
- Digital
- Others
Based on application, the market is categorised into:
- Food and Beverages
- Pharmaceuticals
- Cosmetics
- Others
On the basis of country, the market is divided into:
- Brazil
- Mexico
- Argentina
- Colombia
- Peru
- Others
Latin America Flexible Packaging Market Trends
Among the key trends in the Latin America flexible packaging market is the increasing focus on sustainable packaging. With rising concern regarding plastic usage and environmental degradation, more manufacturers are utilising recycled and recyclable materials for flexible packaging. Improvements in production processes for flexible packaging are also taking place to lower water consumption and carbon footprint for the packaging.
The expansion of the e-commerce sector is another crucial trend in the Latin America flexible packaging market supported by increasing penetration of the internet and smart phones. Products intended to be shipped via e-commerce commonly utilise flexible packaging as it lowers the shipping weight while also providing protection to the products. Pouches are increasingly being used for cosmetics and personal care products sold through e-commerce.
Brazil is anticipated to witness rapid growth in the flexible packaging market in Latin America, driven by increasing consumerism and rising demand for economy and multi-pack consumables. Key players in the market are expanding in Brazil with new facilities that are supported by favourable regulations of the government. The high levels of foreign direct investment in Brazil and significant economic growth are augmenting the demand for packaged food and flexible packaging. The popularity of premium cosmetics is also aiding the flexible packaging market growth in Brazil.
Key Market Players
The major players in the Latin America flexible packaging market report are:
- Amcor Plc
- Sealed Air Corporation
- Sonoco Products Company
- Guala Pack S.p.a.
- Bomplastic – Bom Jesus Plásticos LTDA
- Graphic Packaging Holding Company
- Berry Global Group, Inc.
- Others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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