Mexico Plastic Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 8.33 Billion |
| Market Size (2029) | USD 10.25 Billion |
| CAGR (2024 - 2029) | 4.23 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Plastic Packaging Market Analysis
The Mexico Plastic Packaging Market size is estimated at USD 8.33 billion in 2024, and is expected to reach USD 10.25 billion by 2029, growing at a CAGR of 4.23% during the forecast period (2024-2029).
The increase in plastic bottle usage drives the Plastic Industry in the Country along with the growing demand from the packaging food and Industrial Sector.
- According to International Trade Administration, in 2021, packaging was the most significant driver of Mexico's plastics industry, accounting for 47% of market demand. Plastic packaging items used in the food and beverage industry are created locally. However, producers require specialized containers, pallets and totes, and bins with electrostatic discharged coatings used in the production and final packing of products. Thermoformed plastic packaging is also gaining traction. Many firms in this subsector compete to supply to the food and beverage, pharmaceutical, automobile, and medical device production industries.
- There has been an increase in packaging machinery in Mexico, indicating a positive outlook for the packaging market. According to Packaging Machinery Manufacturers Institute (PMMI), in 2021, Mexico was projected to increase packaging machinery and equipment imports by 15%, with a 9% increase from the United States, as part of the reactivation of the Mexican economy. The total imports of Mexico's packaging machinery increased from USD 390.35 million in 2019 to USD 402.02 million in 2020. Such an increase in machinery imports is expected to encourage plastic packaging firms in the country to increase production and market share and expand their customer base while meeting the demands of existing customers.
- Paper-based packaging is being increasingly used for packaging dairy products. The whiteboard is the most prevalent cardboard used for packaging dairy products. It is suitable for frozen desserts, milk, or butter as it is coated with wax or plastic, making the paper heat-sealable. Also, because of its traditional manufacture and production of alcoholic beverages, Mexico is one of the most important markets for glass bottle packaging. Such alternative forms of packaging are restraining the plastic packaging market growth in the country.
- The onset of the COVID-19 outbreak had been the largest proponent for industry demand during the five years to 2021. It is anticipated that amber plastic bottles may witness demand with the increasing production of cough syrups. As these bottles protect the product from photodamage, they are expected to be highly used by most pharmaceutical manufacturing companies.
Mexico Plastic Packaging Market Trends
This section covers the major market trends shaping the Mexico Plastic Packaging Market according to our research experts:
Plastic Bottles to Drive the Plastic Industry in the Country
- Plastic as a product is widely recognized in several regions, and a wide range of innovative, cost-effective, and ecological packaging options are available in the market. As a result, key competitors, such as Amcor, have introduced new plastic product shapes to meet the need for bottles.
- The beverage sector's market for plastic bottles is anticipated to witness rapid growth, owing to the never-ending demand for bottled water and non-alcoholic beverages. The need for bottled water is credited to the consumers' propensity for specifically demanding high-quality drinking water, owing to the fear of diseases resulting from drinking polluted tap water and the ease of portability and convenience provided by bottled water.
- The developing significance of modern packaging in the pharmaceutical industry has led the brands to utilize the potential of the characteristic plastic packaging to stand out from their competitors and increase profitability. Apart from the essential condition of protecting the drug, the pack also needs to be appealing and distinct, sufficient to promote itself. Thus, the aesthetic appeal of plastic packaging has been a driving factor for its usage in pharmaceutical packaging.
- According to the United Nations, Mexico's exports of beverages, spirits, and vinegar were USD 10.01 billion in 2021. Such a high export rate is expected to increase the demand for plastic bottles in the region. Plastic bottles are rugged and robust, and when dropped, they do not shatter into jagged fragments, safely handling the items and packaging. Because plastics are polymers (large molecules formed by joining several small molecules), and have critical physical qualities, such as toughness and chemical resistance. Plastic bottles are resistant to leaks and bursts, preserving the contents and the outside shipping containers.
- Companies are incorporating new product features to expand their regional market share. For example, INOAC's standard PET and PP resin bottles are available for culinary spices, dressings, alcohol, and beverages. INOAC provides standard bottles based on the contents with which they are to be filled.
Food Industry to Drive the Growth of the Market
- The Mexican food industry is one of the major consumers of plastic packaging due to the increasing demand for easy-to-use and small packaging solutions, with the growing consumer demand for ready-to-eat types.
- According to the USDA Foreign Agriculture Service, Mexico's beef and veal meat production experienced an overall increasing trend between 2010 and 2022. Production exceeded two million metric tons of carcass weight equivalent in recent years, increasing more than 16.3% over 2010. In 2021 the region produced 2,190 metric Ton of meat, increasing from 2020 production, i.e., 2,079 thousand metric tons. Such an increase in meat production may significantly drive the demand for plastic packaging for the studied market.
- Furthermore, according to Agriculture and Agri-Food Canada, Mexico's annual per capita food spending was USD 1,340 in 2018, which is anticipated to reach about USD 1,743 in 2023. With the increase in per capita food spending, the demand for food packaging may also increase. Plastic packaging may withstand harsh environments and does not degrade in hot and cold temperatures, protecting the integrity of the food inside. It also safeguards products against moisture, oxygen, dust, light, and smells. Such properties may create the demand for plastic packaging for food.
- According to the Ministry of Agriculture and Rural Development (Sader ), Mexican agri-food exports set a new high in 2021, with a total value of USD 44,442 million, the largest in 29 years. Exports increased by 12.44% compared to 2020, totaling USD 39,525 million.
- In August 2021, According to the National Association of Chocolate Manufacture, Jalisco was home to 14% of the companies dedicated to producing sweets and chocolates, which generate 58% of national production. In the case of confectionery, the per capita consumption for this year is predicted to be 196 pounds or nearly four kilos. The per capita chocolate consumption is 750 grams nationally. However, certain people consume more chocolate per year, primarily during winter.
- Due to the expansion of the food companies in the Mexican region, the demand for rigid plastic packaging may increase. Rigid plastics are the lightest and least expensive packaging material to carry. Users may also make designs as tiny as possible, allowing for shipping more products per shipping. Such benefits may allow the companies to adapt rigid plastic packaging.
Mexico Plastic Packaging Industry Overview
Mexico Plastic Packaging Market is moderately fragmented, with players such as Amcor PLC, Berry Global Inc., and Mondi Group, Winpak Ltd., AptarGroup Inc. operating in the market. The plastic packaging market comprises several global and regional players vying for attention in a contested market.
- February 2022 - ExxonMobil has completed its sale of certified circular polymers to Berry. The circular polymers are developed using the company's Exxtendrecycling technology, which is designed to help expand the range of recyclable plastic materials and maintain products' performance over several recycling loops. Berry Global will use the polymers to produce containers for food-grade packaging.
- April 2022 - Aptar has announced its progress in testing and converting prototype material from the PureCycleFeedstock Evaluation Unit into multiple colors of hinged closures with performances similar to conventional resin for food, beverage, and cosmetic applications.
Mexico Plastic Packaging Market Leaders
Amcor plc
Mondi Group
Winpak Ltd.
AptarGroup Inc.
Berry Global Inc.
*Disclaimer: Major Players sorted in no particular order
Mexico Plastic Packaging Market News
- January 2022 - Berry and TotalEnergiesannounced their collaboration to make food packaging more circular and divert waste from landfills. TotalEnergieswill supply Berry with certified circular polymers obtained through advanced recycling of post-consumer plastic waste that is otherwise hard to recycle via existing processes. This will help reduce waste and allow Berry to use more recycled plastic in its food and beverage packaging as well as healthcare products.
- June 2022 - Aptar has developed new mono-material solutions or modified existing ones with more recycled resins in order for sustainable product development and has expanded its resin portfolio, with new PCR Plus resin specifically designed for the cosmetic industry and continuing a three-year partnership with PureCycle, to accelerate the use of Ultra-Pure Recycled Polypropylene (UPR) into dispensing solutions.
Mexico Plastic Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Access to Some of the Cheapest Plastic Imports From Countries Such as the United States
4.2.2 Growing Demand from Packaging food and Industrial Sector
4.3 Market Restraints
4.3.1 Increasing Awareness Towards Alternative Forms of Packaging
4.4 Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment of Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Type of Plastic
5.1.1 Rigid Plastic
5.1.2 Flexible Plastic
5.2 Industry
5.2.1 Food
5.2.2 Beverage
5.2.3 Healthcare
5.2.4 Retail
5.2.5 Manufacturing
5.2.6 Others
5.3 Products
5.3.1 Bottles
5.3.2 Cans
5.3.3 Jars
5.3.4 Pouches
5.3.5 Others
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amcor plc
6.1.2 Mondi Group
6.1.3 Berry Global Inc.
6.1.4 Winpak Ltd.
6.1.5 Sonoco Products Company
6.1.6 Transcontinental Inc.
6.1.7 AptarGroup Inc.
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico Plastic Packaging Industry Segmentation
The scope of the study focuses on the market analysis of plastic packaging sold across Mexico. The study also tracks key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. In addition, the overall impact of COVID-19 on the ecosystem is analyzed.
The Mexico Plastic Packaging Market is segmented by Type of Plastic (Rigid Plastic, Flexible Plastic), Industry (Food, Beverage, Healthcare, Retail, Manufacturing), and Products (Bottles, Cans, Jars, Pouches).
| Type of Plastic | |
| Rigid Plastic | |
| Flexible Plastic |
| Industry | |
| Food | |
| Beverage | |
| Healthcare | |
| Retail | |
| Manufacturing | |
| Others |
| Products | |
| Bottles | |
| Cans | |
| Jars | |
| Pouches | |
| Others |
Mexico Plastic Packaging Market Research FAQs
How big is the Mexico Plastic Packaging Market?
The Mexico Plastic Packaging Market size is expected to reach USD 8.33 billion in 2024 and grow at a CAGR of 4.23% to reach USD 10.25 billion by 2029.
What is the current Mexico Plastic Packaging Market size?
In 2024, the Mexico Plastic Packaging Market size is expected to reach USD 8.33 billion.
Who are the key players in Mexico Plastic Packaging Market?
Amcor plc, Mondi Group, Winpak Ltd. , AptarGroup Inc. and Berry Global Inc. are the major companies operating in the Mexico Plastic Packaging Market.
What years does this Mexico Plastic Packaging Market cover, and what was the market size in 2023?
In 2023, the Mexico Plastic Packaging Market size was estimated at USD 7.99 billion. The report covers the Mexico Plastic Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Plastic Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Plastic Packaging Industry Report
Statistics for the 2024 Mexico Plastic Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Plastic Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
