Market Share of Latin America Dairy Packaging Industry
The dairy packaging market is highly competitive due to the presence of several major players; the market is moderately concentrated. The companies keep innovating and entering into strategic partnerships and acquisitions to retain their market share.
In September 2022, Smurfit Kappa said that the company had signed a contract to acquire PaperBox, a packaging facility in Saquarema, 70 km east of Rio de Janeiro. This acquisition will strengthen the company's footprint in the nation, increase its manufacturing capacity, and allow it to continue to develop new business prospects and client relationships, including in the dairy sector.
In April 2022, Sonoco announced that it had purchased the remaining one-third stake from private investors in Sonoco do Brasil Participacoes Ltda, a joint venture for flexible packaging based in Brazil. The joint venture, which serves Brazil's confectionery, dairy, pharmaceutical, and industrial industries, recorded revenues of about USD 34 million in 2021. It is a prominent flexible packaging supplier to numerous multinational consumer packaging goods firms.
Latin America Dairy Packaging Market Leaders
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Amcor PLC
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Mondi PLC
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Huhtamaki Oyj
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Berry Global Inc.
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Smurfit Kappa
*Disclaimer: Major Players sorted in no particular order
