Market Size of Colombia Rigid Plastic Packaging Industry
| Study Period | 2022 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2022 - 2022 |
| CAGR (2024 - 2029) | 3.87 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Colombia Rigid Plastic Packaging Market Analysis
The Colombia Rigid Plastic Packaging Market size in terms of shipment volume is expected to grow from 0.81 Million metric tons in 2024 to 0.97 Million metric tons by 2029, at a CAGR of 3.87% during the forecast period (2024-2029).
In 2023, Colombia emerged as the sixth-largest global market for US agricultural exports, with total exports hitting USD 3.7 billion, as reported by the USDA. With a GDP growth of 0.6% in 2023, Colombia secured its rank as the 43rd-largest economy worldwide and the 4th-largest in Latin America.
• Colombia ranks as the third-most populous nation in Latin America. The country's processed food sales are driven by a tourism surge, evolving consumer lifestyles, and rising urbanization. The growing acceptance of American-style eateries paves the way for Western recipes and ingredients to find a place in Colombian cuisine, propelling the food industry's expansion and the market's growth.
• Middle-to-high-income Colombian consumers are showing a marked preference for convenience products, as reported by the International Trade Administration. The prepared food sector, buoyed by a heightened focus on health, gravitates toward wellness trends. Furthermore, heightened awareness of the benefits of plastic bottles, such as product safety and user-friendliness, has led to a pronounced shift toward rigid plastic packaging solutions.
• In Colombia's cosmetics and personal care sector, the rising demand for rigid plastic packaging can be linked to the booming popularity of e-commerce platforms, enabling customers to shop from virtually anywhere. The International Trade Administration notes that in 2023, Colombia had 39.34 million internet users, making up approximately 75.7% of its population, and securing the fourth spot in Latin America for internet user numbers.
• Colombia is witnessing a growing awareness of the environmental degradation caused by plastic pollution. Acoplásticos reports that Colombia's annual plastic production stands at 1.3 million tons, driven by the burgeoning demand from various industries. However, the heavy reliance on fossil fuels for plastic production and consumption has raised environmental and climate concerns, posing challenges to the market's growth in Colombia.
