Market Share of Latin America Paper Packaging Industry
The Latin American market is considerably fragmented, with several major companies like Tetra Laval, MeadWestvaco Corporation, Ranpack Corp, International Paper Company, Mondi Group, Novamont SPA, Stora Enso, and Biopac UK Ltd. The companies continuously invest in strategic partnerships and product developments to gain more market share. Some of the recent developments in the market are:
In July 2022, the containerboard and packaging manufacturer WestRock Co., based in Atlanta, stated that it had reached a deal to acquire the remaining shares of Grupo Gondi for USD 970 million plus the assumption of debt. In light of Grupo Gondi's operations in Mexico, which include four paper mills, nine corrugated packaging plants, as well as six high graphic plants, WestRock claimed that after the transaction is completed, the company will further strengthen its position in the expanding Latin American paperboard, containerboard, consumer, and corrugated packaging markets.
In January 2022, Nexgen Packaging, a global packaging provider, made investments to improve its capacity for production in Latin America. To produce packaging solutions for retailers in Central America, Mexico, and the United States, the company launched a production plant in Querétaro City, Mexico. With these additions, Nexgen will meet the growing demand from manufacturers and retailers while enabling its clients to benefit from trade agreements between the United States, Canada, Mexico, and Central America.
Latin America Paper Packaging Market Leaders
Tetra Laval
MeadWestvaco Corporation
Ranpack Corp
International Paper Company
Novamont SPA
*Disclaimer: Major Players sorted in no particular order
