Latin America Paper Packaging Market Size (2024 - 2029)

The Latin America paper packaging market is experiencing growth driven by increasing consumer demand for environmentally friendly packaging solutions. This shift is supported by pressure from consumers, governments, and media for sustainable practices. The food and beverage sector's demand is rising due to the growth of food delivery and ready-to-eat products, while the e-commerce boom has further propelled the need for paper packaging. Despite plastic's dominance, the market is gradually moving towards sustainable options like paper, with significant contributions from the electronics and personal care sectors. The COVID-19 pandemic has also accelerated changes in consumer behavior, boosting the packaging industry and influencing market size expansion.

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Market Size of Latin America Paper Packaging Industry

Latin America Paper Packaging Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.90 %
Market Concentration Low

Major Players

Latin America Paper Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

Latin America Paper Packaging Market Analysis

The Latin America paper packaging market is expected to register a CAGR of 3.9% over the forecast period.

  • Consumers in Latin America are becoming more conscious of the environmental hazards of packaging and moving their purchasing habits to more environmentally friendly options. Consumers, the government, and the media are putting pressure on manufacturers to make their products, packaging, and processes more environmentally friendly. People are willing to pay more for environmentally friendly packaging. The Latin America paper packaging market will grow due to these trends.
  • The demand for paper packaging from the food and beverage sector is growing due to the rapid growth of food delivery and ready-to-eat food and the number of customers purchasing supermarket products such as frozen and chilled meals. Furthermore, packaging materials aid in preserving food and nutritional value, all of which contribute to the growth of the paper packaging materials market.
  • The overall packaging market in the region is growing, and the paper and cardboard segments play a significant role. Although plastic still dominates the market, due to increasing environmental sustainability concerns, the market is expected to shift to sustainable packaging such as paper. Also, the increasing adoption of lightweight packaging material such as paper in secondary packaging among electronics and personal care products is expected to support the market's growth.
  • In the electrical sector, Iron boxes, switches, sockets, and electrical equipment meant for consumer markets prefer corrugated packaging products. Moreover, these packaging products only cover substantial storage space when empty and can be folded. These products are cheaper and cost-effective from a logistics point of view while offering a similar level of protection. Additionally, increasing sales of gaming consoles and video game machines since the COVID-19 pandemic supported the growth of paper packaging in the region. For instance, according to International Trade Centre (ITC), Mexico's exported gaming consoles amounted to more than USD 347 million in 2021, nearly 72% compared to the previous year.
  • The COVID-19 outbreak increased hygiene awareness among consumers in the region and motivated consumers to increase their spending on home care and the hygiene sector to prevent COVID-19 infection. Additionally, during the early spread of the virus, the demand for essential packed food and beverage products surged. Companies struggled to fulfill the rapidly changing demand landscape and faced supply chain disruptions. Furthermore, the rapid rise in e-commerce promoted the growth of paper and paperboard packaging in food, beverage, and online pharmacy and drug store sales, contributing to market growth. Further, the Russia-Ukraine war has an impact on the overall packaging ecosystem.
  • The COVID-19 pandemic's consequences on consumer behavior across Latin America led to explosive expansion in the packaging industry. Demand and costs for corrugated boxes rose as consumer preference turned toward e-commerce. Brazilian corrugated cardboard rose 13.5% in April 2021 over April 2020, demonstrating the expansion in this market's demand.

Latin America Paper Packaging Industry Segmentation

Paper packaging is a paper-based thick material with superior foldable and rigidity properties compared to regular paper. It can be easily cut and formed. Its lightweight nature and strength make it ideal for many packaging applications. Market size is provided in terms of value (USD million) considering the paper packaging products consumption across the end-user verticals.

The Latin America paper packaging market is segmented by type (folding cartons, corrugated boxes, and other types), end-user (food, beverage, healthcare, personal care, household care, electrical products, and other end users), and geography (Brazil, Mexico, and the Rest of Latin America). 

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Type
Folding Cartons
Corrugated Boxes
Other Types
By End-User
Food
Beverage
Healthcare
Personal Care
Household Care
Electrical Products
Other End-user Industries
By Country
Brazil
Mexico
Rest of Latin America
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Latin America Paper Packaging Market Size Summary

The Latin America paper packaging market is experiencing a notable shift towards sustainable and eco-friendly solutions, driven by increasing consumer awareness and demand for environmentally responsible packaging options. This trend is further supported by governmental and media pressures on manufacturers to adopt greener practices. The market is witnessing growth due to the rising demand from the food and beverage sector, fueled by the expansion of food delivery services and the popularity of ready-to-eat meals. Additionally, the shift from plastic to paper and cardboard packaging is gaining momentum as consumers and brands prioritize sustainability. The adoption of lightweight paper packaging in sectors such as electronics and personal care is also contributing to market expansion.

The COVID-19 pandemic has significantly impacted consumer behavior, leading to a surge in demand for e-commerce and packaged goods, which in turn has boosted the paper packaging market. The increase in hygiene awareness and the rise in packaged food consumption during the pandemic have further accelerated market growth. The region's packaging industry is becoming more fragmented, with major companies investing in strategic acquisitions and expansions to enhance their market presence. The entry of international players and the expansion of production capacities in countries like Brazil are expected to positively influence the market. Overall, the Latin America paper packaging market is poised for continued growth, driven by evolving consumer preferences, environmental concerns, and strategic industry developments.

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Latin America Paper Packaging Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Intensity of Competitive Rivalry

      5. 1.2.5 Threat of Substitutes

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Impact of the COVID-19 on the Market

    5. 1.5 Overview of the Global Paper Packaging Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Folding Cartons

      2. 2.1.2 Corrugated Boxes

      3. 2.1.3 Other Types

    2. 2.2 By End-User

      1. 2.2.1 Food

      2. 2.2.2 Beverage

      3. 2.2.3 Healthcare

      4. 2.2.4 Personal Care

      5. 2.2.5 Household Care

      6. 2.2.6 Electrical Products

      7. 2.2.7 Other End-user Industries

    3. 2.3 By Country

      1. 2.3.1 Brazil

      2. 2.3.2 Mexico

      3. 2.3.3 Rest of Latin America

Latin America Paper Packaging Market Size FAQs

The Latin America Paper Packaging Market is projected to register a CAGR of 3.9% during the forecast period (2024-2029)

Tetra Laval, MeadWestvaco Corporation, Ranpack Corp, International Paper Company and Novamont SPA are the major companies operating in the Latin America Paper Packaging Market.

Paper Packaging Market in Latin America Report Snapshots

Latin America Paper Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)