Mexico Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 14.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Packaging Market Analysis
The packaging industry in Mexico is anticipated to register a CAGR of 14% over the forecast period.
- The longer product shelf life, changing lifestyle of people, and new innovative products across the region will drive market growth. The country's packaging landscape has been garnering high foreign direct investments across the food processing industry. This is expected to maintain an upward growth trend for flexible packaging demand. Consequently, manufacturers in the region have witnessed the demand for high-quality machines for packaging needs.
- Plastic packaging has been observing a positive inclination from consumer products over other products for material handling, as plastic packages are lightweight and more comfortable. Furthermore, even major manufacturers prefer plastic packaging solutions owing to their lower production costs.
- The Mexican market is one of the world's largest per capita consumers of soft drinks. But increasing health consciousness and concerns about obesity are leading to a growing focus on water and non-carbonated beverages. As physical activity across the country grows, the demand for energy drinks will improve, leading to the growth of plastic bottles in the country.
- Packaging effectively protects the product from oxygen and moisture thanks to its longer and better barrier capabilities. However, it is projected that worries about the environment and recycling will hinder and limit market expansion.
- Alternatively, amidst the outbreak of the COVID-19 pandemic, the demand for FMCG and packaged food has been leading to significant demand for fibers, films, and flexible packaging. Moreover, the stock-piling behaviors among consumers have led critical converters in the country to pre-order plastic film in anticipation of a shortage in packaging raw materials.
Mexico Packaging Market Trends
This section covers the major market trends shaping the Mexico Packaging Market according to our research experts:
Plastics to Drive the Market
- Plastic bottles and jars are most frequently used in the food, beverage, cosmetics, and personal care industries. The plastic bottle market in the beverage industry is anticipated to grow significantly due to the demand for bottled water and non-alcoholic beverages.
- For instance, in April last year, Mondi launched a sustainable packaging solution for the food industry. Mono Formable PP is a semi-rigid plastic tray created from mono-material polypropylene (PP) that features a printed top web and a thermoformable semi-rigid bottom web. The packaging weighs 30% less than a comparable polyester (PET) tray and has features like easy-peel for convenient opening and reclosure.
- Carbonated beverages have a significant market share in Mexico's soft drinks business. Though packaged water and fruit-based drinks have gained appeal among Mexican consumers recently, carbonated beverages outperform the rest of the country's soft drinks sector.
- Moreover, pouch packaging is rapidly gaining popularity, as it is a highly convenient and portable packaging solution. Over the past decade, consumers across the region exponentially drove the demand for stand-up pouches (for snack food, beverage, baby food, or industrial oils and lubricants).
Understand The Key Trends Shaping This Market
Food and Beverage to Have the Largest Market Share
- The consumer trends in Mexico are moving rapidly in terms of new products that match unique worldwide lifestyles, including frozen or ready-made meals, on-the-go snacks for breakfast/lunch, and many more.
- Moreover, The rise of touchless packaging gives chances for food businesses to differentiate their products by providing a better customer packaging experience. Aesthetically appealing packaging that delivers health and hygiene may appeal to grocery buyers. The buyers want tamper-resistant packaging across the region that is also easy to open and packaging that makes food preparation convenient, easy, and safe.
- Most fresh-baked products have only a few days shelf life at ambient temperature. Molds are the most typical type of spoilage organism related to baked products. Storage temperature and water activity are the two most important factors governing the mold-free shelf life of cakes. The lower the water activity and storage temperature, the longer the product's shelf life. In several emerging economies, table bread usually has a shelf life of around 4 to 5 days and is generally packed in polyethylene and polypropylene bags, which are twist-tied.
- Consumers are changing the way they consume and buy beverages. Factors such as high disposable income, ease of availability, improvement in living standards, and a wide variety fuel the country's carbonated soft drinks industry's growth. The demand for consumption during different events may rise due to efforts to reduce the calories in soft drinks, which would substantially impact the demand for plastic packaging.
Mexico Packaging Industry Overview
The packaging industry in Mexico is highly competitive and consists of several major players. Few big competitors now control most of the market in terms of market share. These major firms, which hold a significant market share, are concentrating on growing their consumer base internationally. These businesses use smart joint ventures to boost their market share and profitability.
In December 2022, Amcor Rigid Packaging developed and introduced a two-step, lightweight quantum technology for polyethene terephthalate (PET) bottles that eliminate more than 50% of the material and weight in the finish of the bottle and deliver sustainability benefits, lowers cost, and improves packaging appearance.
Mexico Packaging Market Leaders
Amcor PLC
Mondi PLC
Wipak Group
Sit Group SpA
Phoenix Closures Inc.
*Disclaimer: Major Players sorted in no particular order
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Mexico Packaging Market News
- September 2022: Amcor Rigid Packaging introduced the DairySeal line of packaging that features ClearCor, an advanced PET barrier. The ClearCor PET barrier technology is a concentrated capsulation in the preform center that allows more flexibility and resin options. This technology positively impacts the overall performance of the barrier in the packaging and maintains recyclability. The DairySeal line of packaging can be made with up to 80 percent of recyclable material while maintaining superior taste and performance for the brand.
- June 2022: Smurfit Kappa invested USD 23.5 million to upgrade its Nuevo Laredo sheet plant in Mexico to become a fully integrated corrugated plant. The investment includes a state-of-the-art corrugator and an extension of the building. The new machine, which began operating last week, will have the two-pronged benefits of reducing CO2 emissions by up to 40% and doubling production capacity.
Mexico 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 INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Industry Value Chain Analysis
4.4 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Longer Product Shelf Life and Changing Lifestyle of People
5.1.2 New Innovative Products
5.2 Market Restraints
5.2.1 Concerns about the Environment and Recycling
6. MARKET SEGMENTATION
6.1 By Packaging Material
6.1.1 Plastics
6.1.2 Metal
6.1.3 Glass
6.1.4 Other Packaging Material
6.2 By Packaging Type
6.2.1 Flexible Packaging
6.2.1.1 Pouches & Bags
6.2.1.2 Films and wraps
6.2.1.3 Tubes
6.2.2 Rigid Packaging
6.2.2.1 Bottles and Jars
6.2.2.2 Trays and Containers
6.2.2.3 Other Rigid Packaging Types
6.3 By End-user Vertical
6.3.1 Personal Care
6.3.2 Home Care
6.3.3 Automotive
6.3.4 Pharmaceutical
6.3.5 Food and Beverage
6.3.6 Other End-user Verticals
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Amcor PLC
7.1.2 Mondi PLC
7.1.3 Wipak Group
7.1.4 Sit Group SpA
7.1.5 Phoenix Closures Inc.
7.1.6 Glenroy Inc.
7.1.7 Fres-co System USA Inc.
7.1.8 JL Packaging Corporation
7.1.9 Belmark Inc.
7.1.10 Printpack Inc.
7.1.11 Constantia Flexibles Group
7.1.12 Innovia Films Mexico S.A. de C.V.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico Packaging Industry Segmentation
Packaging Industry is of paramount importance and plays a vital role in the international trade of goods. Packaging can be classified based on their type of use, which is primary packaging, secondary packaging, tertiary packaging, and ancillary packaging.
The packaging industry in Mexico is segmented by packaging material (plastic, metal, glass, and other packaging types), packaging type (flexible packaging (pouches & bags, films and wraps, and tubes), rigid packaging (bottles and jars and trays and containers), and other packaging materials) and end-user vertical (personal care, home care, automotive, pharmaceutical, food and beverage, and other end user verticals).
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Packaging Material | |
| Plastics | |
| Metal | |
| Glass | |
| Other Packaging Material |
| By Packaging Type | |||||
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| By End-user Vertical | |
| Personal Care | |
| Home Care | |
| Automotive | |
| Pharmaceutical | |
| Food and Beverage | |
| Other End-user Verticals |
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Mexico Packaging Market Research FAQs
What is the current Mexico Packaging Market size?
The Mexico Packaging Market is projected to register a CAGR of 14% during the forecast period (2024-2029)
Who are the key players in Mexico Packaging Market?
Amcor PLC, Mondi PLC, Wipak Group, Sit Group SpA and Phoenix Closures Inc. are the major companies operating in the Mexico Packaging Market.
What years does this Mexico Packaging Market cover?
The report covers the Mexico Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Packaging Industry in Mexico Industry Report
Statistics for the 2024 Packaging Industry in Mexico market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Packaging Industry in Mexico analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Packaging Industry in Mexico Report Snapshots
