The economy of Latin America has grown from 2.9% in 2014 to 3.7% in 2016. The steady growth in this region for some years and economic policies has improved the lives of millions. The poverty rate has also declined from 42% in 2000 to 25% in 2012 and the middle class has increased from 22% to 34% in the same time. The FDI in this region received USD 173.36 billion in 2012 which is 6.7% more than 2011. This accounts for 12% of the global flows.
The Latin America flexible packaging market was valued at USD 15.32 billion in 2017 and is expected to reach a value of USD 19.51 billion by 2023, at a CAGR of 4.0%, during the forecast period, 2018-2023. Brazil is set to have the highest market share followed by Argentina. This robust growth is attributed to the overall growth of packaging need in the Latin American region caused by developing economic conditions.
This increase in middle-class population and the growth in the economy mean higher income for the people and also increase in urbanization. With this increase, the e-commerce market spurred by the growth of companies like Mercado Libre, the need for packaging especially flexible packaging has been on the rise.
Brazil, Argentina and Mexico are the leading countries in this region for economy growth and in terms of getting maximum FDI in this region. They have a huge demand for food and industrial goods which are catered by imports and many of the regions are self-sustaining. Flexible packaging will be important for this area to store the products from getting damaged. With the middle-class percentage increasing there will be more demand for packed food and this will enable flexible packaging market to grow.
Demand for products with increased shelf life is expected to increase in the next decade. With markets expanding, companies are also looking at new packages with longer shelf life in order to ensure that products are shipped across long distances. New environment regulations have also necessitated companies to invest more in the innovation of flexible packaging products. Flexible packaging has its applications primarily centered in the food and medical industry. Factors such as stringent regulations, growing need to retain medical properties of products, and rising standards of hygiene contribute to the need for innovative new products in the medical industry.
The major problem with this market is the striking socio-economic differences. The regions close to the urban areas have high GDP per capita which is very much different from the other regions. Also, Brazil, Mexico and Argentina are the major driving force of the region and the other countries are still not the major drivers in terms of economy and FDI. With this region getting a lot of investment and support from countries like the USA, the economic situation will improve and create more economic hubs across the region.
The report provides a comprehensive analysis of the market segmented on the basis of packaging material used and the end-user industry. Detailed estimates for the next five years are included along with the analysis of the major players and their strategies. Some of the key vendors mentioned in the report are Amcor, Mondi Group, SIT Group, Wipak Group and Automated Packaging Systems. Some other companies which are serving the market in their own innovative way, mentioned in the report are Rollprint Packaging Products, Paharpur 3P and PERUPLAST S.A.
Reasons to buy this report
- The report gives complete market insights, the driving forces of the market, the challenges market faces, about different flexible packaging technologies and their applications.
- It gives market trends by type of flexible packaging technology and by applications.
- A complete market breakdown has been done by different countries along with the country level segmentation to give a detailed picture of the market in that particular region.
- The report also gives information on major vendors of flexible packaging products, their existing share in the market, strategies they adopt along with the major products, financials, recent developments and profile of these vendors.
Who is this report useful to?
- Vendors who are into manufacturing of these products as they can get an overview of what competitors are doing and also which markets they can look forward to expanding their operations.
- Processed food suppliers in need of better understanding of different technologies and products.
- Investors who are willing to invest in this market.
- Consultants who can have readymade analysis to guide their clients.
- Anyone who wants to know more about this market.
1.1 Scope of the Study
1.2 Study Deliverables
2. Research Approach and Methodology
2.1 Study Assumptions
2.2 Analysis Methodology
2.3 Research Phases
3. Executive summary
4. Market Dynamics
4.1 Market Overview
4.2 Introduction to Market Dynamics
4.3 Factors Driving the Market
4.3.1 Increasing Demand for Convenience Products, Owing to Improving Consumer Lifestyle
4.3.2 Beneficial Properties of Flexible Packaging
4.4 Factors Restraining the Market
4.4.1 Stringent Environmental Regulations
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Industry Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products or Services
4.6.5 Competitive Rivalry among Existing Competitors
5. Technology Snapshot
6. Segmentation By Type of Packaging Material
6.2 Flexible Foam
6.3 Paper Product
6.4 Aluminium Foil
7. Segmentation By Product Type
7.4 Other Types
8. Segmentation By End-user Industry
8.3 Pharmaceutical and Medical
8.4 Personal Care and Household Care
8.5 Other Industries
9. Segmentation By Country
9.4 Rest of Latin America
10. Competitive Intelligence - Company Profiles
10.1 Amcor Limited
10.2 Mondi PLC
10.3 Bemis Company Inc.
10.4 Berry Global Group PLC
10.5 Sealed Air Corporation
10.6 Constantia Flexibles Group
10.7 Sit Group SpA
10.8 Printpack Inc.
10.9 SIG Combibloc Group AG
10.10 Tetra Pak International SA
10.11 Convertidora Industrial SAB de CV
10.12 Smurfit Cartón y Papel de México SA de CV
9. Investment analysis
10. Future of the Market