Mexico Plastic Packaging Films Market Size

Mexico Plastic Packaging Films Market Analysis

The Mexico Plastic Packaging Films Market size is estimated at 0.51 Million tonnes in 2024, and is expected to reach 0.65 Million tonnes by 2029, growing at a CAGR of 4.97% during the forecast period (2024-2029).

• The urban lifestyle in Mexico is fueling a surge in demand for convenient packaging. Consumers favor lightweight, user-friendly options, prompting vendors to revamp their designs to suit the expanding organized retail segment. Shifting to lighter materials, like flexible pouches, meets evolving demands and brings substantial energy-saving advantages. The industry's pivot toward sustainable packaging aligns well with the increasing consumer preference for eco-friendly products. This convergence is likely to drive innovation and intensify competition in the packaging sector.
• Mexico's strategic location, flanked by the Pacific Ocean to the West and the Gulf of Mexico to the East, positions it as a global production and trade hub. Mexico has proactively forged agreements with various economies and international bodies to enhance its global trade standing. Mexico has showcased its commitment to international collaboration as the first Latin American nation to join the Asia-Pacific Economic Cooperation (APEC). In addition, Mexico signed the North American Free Trade Agreement (NAFTA), which provided favorable tariff conditions and significantly reduced company inventory, shipping, and transportation costs. These geographic advantages have propelled Mexico's packaging sector, particularly highlighting the demand for a diverse range of plastic films.
• Plastic packaging is a cornerstone of Mexico's growing economy, enhancing the appeal of goods, from artisanal items to industrial products. The market is pivoting toward eco-friendly practices, with a notable emphasis on environmentally friendly printing and packaging. A prime example is Portugal's Evertis, a plastic film and packaging producer, recently inaugurated its Monterrey production facility in Mexico. Evertis specializes in mono- and multilayer semirigid barrier films, particularly for food packaging, and has set an ambitious goal of incorporating 50% recycled content by 2025. In 2021, the company reported consuming over 30,400 metric tons of scrap materials, with more than 9,300 metric tons being post-consumer polyethylene terephthalate (PET). The Monterrey facility alone boasts an annual capacity exceeding 22,000 tons, a figure realized in 2023.
• Commencing in 2020, the Mexico City government initiated a series of bans on single-use plastic items, with plastic bags being the first target. Subsequently, in 2021, additional disposable products faced prohibition, compelling companies to seek out plastic-free substitutes. These stringent actions pose a significant hurdle for Mexico's plastics sector and resonate with the nation's overarching aim of curbing environmental harm and promoting a circular economy. This, in turn, fosters innovation and sustainability in packaging.
• Mexican packaging is no longer just following a trend but embracing sustainability as the new standard. Material recycling is gaining prominence, with companies integrating it extensively across their supply chains. Both packaging manufacturers and consumers in Mexico are pivoting toward superior materials and adhering to elevated production benchmarks, especially in plastic film packaging. Notably, over 63% of food products in Mexico now opt for flexible packaging, witnessing annual growth rates exceeding 10%.