Latin America Flexible Packaging Market Size (2024 - 2029)

Latin America Flexible Packaging Market Analysis

The Latin America Flexible Packaging Market size is estimated at USD 9.91 billion in 2024, and is expected to reach USD 13.11 billion by 2029, growing at a CAGR of 4.04% during the forecast period (2024-2029).

• Manufacturers benefit from substantial cost savings as flexible packaging consumes less raw materials and energy during production. Its efficient wrapping capabilities and reduced storage space requirements further boost its demand in the market.
• Trends like innovative packaging and digital printing are energizing the market, showcasing technological advancements. These include creative consumer engagement solutions, such as serialized QR codes. Additionally, the lightweight nature of flexible packaging cuts down transportation costs and fuel usage, making it a favored choice for snacks and potato chip packaging in the studied regions.
• In response to rising demand, several market players are forging collaborations and partnerships to enhance their revenues. For example, in May 2024, SGK's team in Brazil partnered with Johnson & Johnson Brazil to launch SEMPRE LIVRE. Their sustainability efforts earned them the Popular Vote category at the 20th ABRE Brazilian Packaging Award. SGK and Johnson & Johnson broke new ground with their first flexible film packaging. They crafted a thinner insert for female care products, using 33% post-consumer resin, and achieved a commendable 10.25% carbon footprint reduction over traditional packaging.
• The Argentine packaging sector grappled with challenges during the economic downturn, worsened by the pandemic. A significant drop in purchasing power among low and middle-income groups stifled innovation and premium packaging ventures. With wages plummeting, unemployment rising, and consumption habits shifting, the effects were felt across various packaging types and sizes.
• In the past decade, there has been a marked surge in public awareness about the detrimental effects of plastic. Latin American governments have spearheaded numerous public campaigns and initiatives, amplifying this awareness. Consequently, the consumption of plastic packaging has seen a pronounced shift in recent years.

Latin America Flexible Packaging Industry Segmentation

Flexible packaging is lightweight bags or pouches sealed using heat or pressure. In most cases, flexible packaging is designed to help extend the shelf-life of food products or to fulfill other marketing trends, such as high-quality graphics.

The Latin American flexible packaging market is segmented by material type (plastics, paper, and aluminum foil), product type (pouches, bags, films, and wraps), end-user industry (food, beverage, pharmaceutical and medical, household and personal care, and other end-user industries), and country (Brazil, Argentina, Mexico, and Rest of Latin America). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.