Latin America Flexible Plastic Packaging Market Size (2024 - 2029)

Latin America Flexible Plastic Packaging Market Analysis

The Latin America Flexible Plastic Packaging Market size in terms of shipment volume is expected to grow from 2.10 Million tons in 2024 to 2.65 Million tons by 2029, at a CAGR of 4.76% during the forecast period (2024-2029).

Flexible packaging uses non-rigid materials like plastic to create pouches, films, and wraps, which are more economical and customizable. The increasing demand for flexible plastic packaging in the food and beverage, pharmaceutical, and personal care industries is propelling the market growth.

Flexible plastic packaging allows more customizable and economical options for packaging various products. The development of new drugs and antibiotics in the Latin American pharmaceutical industry has propelled the demand for flexible plastic packaging solutions such as pouches and laminated rollstock films.

The Latin American flexible plastic packaging market is on a growth trajectory driven by economic development, increased globalization, and rising disposable income of the population. The growing demand for packaged and snacked foods in Mexico and Brazil has propelled the need for airtight packaging, contributing to the increasing shelf-life of various products. According to data from the United States Department of Agriculture (USDA), exports of overall processed foods from the United States to Mexico were valued at USD 5.86 billion in 2023.

Flexible plastic packaging solutions have gained popularity due to their lightweight and cost-effective features among consumers, which has driven the market growth. Manufacturers of flexible plastic packaging solutions in Latin America are ramping up their production capacities to meet the surging consumer demand.

For instance, in April 2024, Sonoco Products Company, a US-based firm, inaugurated a new protective packaging plant in Mexico. This move is poised to bolster the company's footprint in the Latin American protective packaging market.

Recycling and environmental concerns for plastics can hamper the flexible plastic packaging market in Latin America. Plastic packaging substantially contributes to plastic pollution, thus increasing consumer demand for bio-degradable and eco-friendly packaging in Latin America.

Latin America Flexible Plastic Packaging Industry Segmentation

The study on the flexible plastic packaging market tracks demands in terms of revenue for flexible plastic packaging by material and tracks the market size for respective end-user types. The estimates for the flexible plastic packaging market include all the costs associated with flexible plastic packaging manufacturing, from raw material procurement to end-use industries. The estimates exclude the cost of the content that is or is to be packed inside the flexible plastic packaging. The scope of the flexible plastic packaging market is limited to B2B demand. Market numbers have been arrived at using both bottom-up and top-down approaches for segmentation, and volume has also been taken into consideration.

The Latin America Flexible Plastic Packaging Market Report is Segmented by Material (Polyethene [PE], Bi-Oriented Polypropylene [BOPP], Cast Polypropylene [CPP], Polyvinyl Chloride [PVC], Ethylene Vinyl Alcohol [EVOH], and Other Material Types [Polycarbonate, PHA, PLA, Acrylic, and ABS]), Product Type (Pouches, Bags, Films and Wraps, and Other Product Types), End-User Industry (Food [Frozen Food, Dry Food, Meat, Poultry, and Sea Food, Candy & Confectionery, Pet Food, Dairy Products, Fresh Produce and Other Food (Seasonings & Spices, Spreadables, Sauces, Condiments, etc.)], Beverage, Medical and Pharmaceutical, Personal Care and Household Care, and Other End User Industry [Automotive, Chemical, Agriculture ]), and Country (Mexico, Brazil, Colombia, and Rest of Latin America). The market sizes and forecasts are provided in terms of volume (tonnes) for all the above segments.