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The flexible packaging market share in Latin America is expected to increase by USD 3.12 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.95%.
This flexible packaging market in Latin America research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the flexible packaging market in Latin America segmentation by product (pouches, bags, films and wraps, and others) and end-user (food and beverage, healthcare, and others). The flexible packaging market in Latin America report also offers information on several market vendors, including Amcor Plc, Berry Global Inc., Cascades Inc., Coveris Management GmbH, FlexPak Services, Mondi Group, Novolex Holdings LLC, Printpack Inc., Sealed Air Corp., and Sonoco Products Co. among others.
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"Pouches are widely used to pack dry foods, candies, confectioneries, agriculture products, and liquids, in Latin America"
The rising focus on improving the shelf life of products is notably driving the flexible packaging market growth in Latin America, although factors such as increasing environmental focus on reducing the use of plastic packaging may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the flexible packaging industry in Latin America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Flexible Packaging Market Driver in Latin America
The rising focus on improving the shelf life of products is one of the key drivers supporting the flexible packaging market growth in Latin America. The increase in shelf life aids in the transportation and export of perishable products such as food, beverages, medicines, and others to different places without any damage. Flexible packaging is effective in improving the shelf life of products. For instance, bananas packaged in flexible packaging ripen more slowly and have a prolonged shelf life. The use of flexible films prevents the gas from leaking out of the package. Furthermore, the need to extend the shelf life of food items and reduce their waste has led to the emergence of resealable flexible packaging. The resealable packaging includes a multilayer barrier film capable of resisting curling at the temperatures used in the thermoforming line. Thus, the rise in the availability of such new products with added features is likely to increase the demand for flexible packaging during the forecast period.
Key Flexible Packaging Market Trend in Latin America
A rise in the need for sustainable packaging and reducing the use of plastic packaging due to environmental concerns is another factor supporting the flexible packaging market growth in Latin America. Most of the end-users of flexible plastic packaging have been focusing on introducing various initiatives for increasing the use of recyclable packaging. For instance, in September 2021, EMSUR, Grupo Lantero's Packaging Division, announced the launch of EM-Full RFlex, its new range of PE and PP-based flexible packaging. This solution aims to improve recyclability and improve food preservation due to its barrier properties. Thus, owing to the demand from end-users for recyclable flexible plastic packaging, some major vendors have been focusing on the introduction of recyclable flexible plastic packaging. This is driving the market for new product developments of recyclable flexible plastic packaging during the forecast period.
Key Flexible Packaging Market Challenge in Latin America
The increasing environmental focus on reducing the use of plastic packaging is hindering the flexible packaging market growth in Latin America. Environmental concerns related to packaging waste are a major issue in the packaging market. Plastics are non-biodegradable and remain in the environment for a long time. Significantly, most flexible plastic packaging is made from PS, PE, or PP, which do not degrade or decompose easily. After their use, flexible packaging is mostly discarded in landfills, where its non-degradable nature threatens the environment. As plastic is one of the major materials disposed of in landfills, various international regulatory bodies and governments worldwide are framing regulations and introducing initiatives aimed at reducing plastic waste. Thus, such implemented regulations may hamper the market growth during the forecast period.
This flexible packaging market in Latin America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the flexible packaging market growth in Latin America as a part of the global metal and glass containers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the flexible packaging market in Latin America during the forecast period.
The global metal and glass containers market includes products of metal, glass, or plastic containers, including corks and caps. The global containers and packaging market includes the combined revenue generated by manufacturers/providers of metal, glass, and plastic containers and paper packaging
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the flexible packaging market in Latin America encompasses successful business strategies deployed by the key vendors. The flexible packaging market in Latin America is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The flexible packaging market in Latin America forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the flexible packaging market in Latin America, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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The flexible packaging market share growth in Latin America by the pouches segment will be significant during the forecast period. Pouches are widely used to pack dry foods, candies, confectioneries, agriculture products, and liquids, as they have a strong visual impact on consumers. They include various types, such as stand-up pouches, flat pouches, and others. The stand-up pouch packaging segment is becoming more popular than the other types of pouch packaging owing to its shelf appeal and because it offers an airtight closure and is extremely easy to pack. The use of stand-up pouches for packaging household products is increasing which may drive the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the flexible packaging market in Latin America size and actionable market insights on post COVID-19 impact on each segment.
Flexible Packaging Market Scope in Latin America |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.95% |
Market growth 2022-2026 |
$ 3.12 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.35 |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Amcor Plc, Berry Global Inc., Cascades Inc., Coveris Management GmbH, FlexPak Services, Mondi Group, Novolex Holdings LLC, Printpack Inc., Sealed Air Corp., and Sonoco Products Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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