Mexico Plastic Packaging Market Size (2024 - 2029)

Mexico Plastic Packaging Market Analysis

The Mexico Plastic Packaging Market size is estimated at USD 8.33 billion in 2024, and is expected to reach USD 10.25 billion by 2029, growing at a CAGR of 4.23% during the forecast period (2024-2029).

• The increase in plastic bottle usage drives the plastic industry in the country, along with the growing demand from the packaging food and industrial sectors. The rise in demand for plastic bottles from various sectors implies an increased need for plastic packaging materials. This, in turn, can lead to higher production levels within Mexico's plastic industry to meet these sectors' growing demands.
• Mexico also has a significant pharmaceutical market, driven by a growing population, increasing healthcare investments, and a robust pharmaceutical manufacturing sector. The country has made efforts to improve access to healthcare and enhance the regulation of pharmaceutical products, contributing to the growth of its pharmaceutical market.
• As per the International Trade Centre (ITC), Mexico is the second-largest market in Latin America after Brazil for medicines, ranking as the world's 15th-largest market. In Mexico, patented drugs account for 51% of the market's value, followed by generic medicines with 35% of the market's value and over-the-counter medications with the remaining 14%.
• Paper-based packaging is being increasingly used for packaging dairy products. The whiteboard is the most prevalent cardboard used for packaging dairy products. It is suitable for frozen desserts, milk, or butter as it is coated with wax or plastic, making the paper heat-sealable. Because of its traditional manufacture and production of alcoholic beverages, Mexico is one of the most important markets for glass bottle packaging. Such alternative forms of packaging are restraining the plastic packaging market’s growth in the country.

Mexico Plastic Packaging Industry Segmentation

Plastic packaging refers to using plastic materials to create containers, wrappers, and other forms of packaging for various goods and products. It involves using different types of plastic, such as polyethylene, polypropylene, polyethylene terephthalate, and others, to produce packaging that can be used for protecting, storing, and transporting a wide range of items. Plastic packaging is known for its versatility, durability, and cost-effectiveness, making it a popular choice in food and beverage, healthcare, consumer goods, and more industries.

The Mexican plastic packaging market is segmented by packaging type (rigid plastic and flexible plastic), product type (bottles, cans, jars, pouches, trays, containers, films and wraps, and other product types), and end-user industry (food, beverage, healthcare, retail, manufacturing, personal care, and other end users). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.