Market Trends of Latin America Polypropylene (PP) Packaging Film Industry
This section covers the major market trends shaping the Latin America Polypropylene Packaging Film Market according to our research experts:
BOPP to Drive the Market Growth
- Biaxially oriented polypropylene (BOPP) is a polypropylene film that is biaxially oriented. Owing to features like increased toughness, enhanced clarity, and improved barrier properties to water vapor and oxygen, BOPP films are increasingly adopted in the fields of applications, like packaging, labeling, and lamination.
- These films are preferred substrate for food and beverage packaging, owing to its inherent moisture barrier properties, sealability, high clarity, and graphic reproduction, and shelf appeal, with the best possibilities of the pack being a monolayer/homogeneous structure. For instance, according to ABIA, the net revenue of the food and beverage industry in Brazil during 2018 stood at BRL 656 billion and growing steadily.
- Latin America is witnessing significant investments in BOPP manufacturing, as the enterprises’ propensity to produce locally is increasing. For instance, in 2019, Taghleef Industries completed the acquisition of Biofilm, expanding its presence in the region. With this acquisition, Taghleef secured its position as the prominent supplier of BOPP films in Latin America. The acquisition increased the production capacity of the company to over 500,000 tons. The company has secured a strong position in the supply chain in Latin America by spreading its production sites in Cartagena, Colombia, and Altamira, Mexico.
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Food Industry to Dominate the Market Growth
- With the changing lifestyle, there is a spur in demand for packaged food in the region, which further augments the demand for PP packaging films in the industry. Brazil and Mexico are amongst the significant contributor to the demand growth in the region.
- Mexico has a strong food processing industry that leads to Mexican brands like Bimbo, PepsiCo, Lala, and Nestle, etc. Moreover, it has smaller domestic companies that have established supply channels with major warehouse food clubs across Mexico, including Costco and Sam’s Club, which serve a large portion of the foodservice sector. This further drive the growth of the market in the region.
- Moreover, the growing need to maintain product quality, sustainability, aesthetics, and density and extend the shelf life of the products are significant factors that propel the vendors in the industry to adopt BOPP films. This is expected to fuel market growth over the forecast period.
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