Mexico Rigid Plastic Packaging Market Size (2024 - 2029)

The Mexico Rigid Plastic Packaging Market is experiencing growth driven by its unique properties such as stiffness and high impact strength, which have expanded its application, particularly in the food industry. The market's expansion is influenced by the increased demand for packaged food and pharmaceutical products, although it faced challenges during the pandemic due to concerns about virus survival on plastic surfaces. The market is recovering from previous manufacturing declines caused by crude oil price fluctuations, which affect plastic production costs. Despite being highly fragmented, the market presents opportunities for new entrants due to significant demand across various sectors.

Market Size of Mexico Rigid Plastic Packaging Industry

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Mexico Rigid Plastic Packaging Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 3.34 Billion
Market Size (2029) USD 4.18 Billion
CAGR (2024 - 2029) 4.53 %
Market Concentration Low

Major Players

Mexico Rigid Plastic Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Mexico Rigid Plastic Packaging Market Analysis

The Mexico Rigid Plastic Packaging Market size is estimated at USD 3.34 billion in 2024, and is expected to reach USD 4.18 billion by 2029, growing at a CAGR of 4.53% during the forecast period (2024-2029).

  • Rigid plastic packaging provides unique benefits, such as stiffness, high impact strength, and high barrier properties, which expanded the market for rigid plastic packaging in recent years. In Mexico, the food industry is one of the significant contributors to the rigid plastic market. According to the International Trade Administration, in 2021, packaging was the key driver of Mexico's plastics industry, attributing 47% of the market demand. Plastic packaging items used in the food and beverage industry are usually created locally. The increased demand for packaged food and pharmaceutical products drove market growth during the pandemic. However, claims regarding the survival of the virus up to 72 hours on materials, such as plastic, also hampered market growth.
  • Crude oil is a source of raw material (i.e., feedstock) for making plastics. According to the Bank of Mexico, in March 2022, Mexico's crude oil exports averaged USD 104.4 per barrel, the highest in over three years. The North American country's export blend price plummeted in the first months of 2020, dipping below USD 13 per barrel in April 2020, following a global decrease in demand amidst the pandemic. Since May 2020, Mexico's export of crude oil price showed a recovering trend and remained above USD 60 for 12 consecutive months. Overall, during the pandemic, due to price fluctuation, the manufacturing capability of rigid plastic declined. However, currently, it is recovering.
  • The rigid plastic packaging industry is highly fragmented in the country, with market incumbents, such as Amcor, Grupo Phoenix, Berry Group, and ALPLA, along with several regional Mexican contract packaging firms. Although barriers to entry for new players are moderate, regional packaging companies witness value in foraying, especially in the rigid packaging industry, owing to significant demand from various end-user industries.
  • Carbonated beverages dominate the Mexican soft drinks industry in a major way. Though packaged water and fruit-based drinks started gaining popularity among Mexican consumers in recent years, carbonated beverages are way ahead of the rest of these categories in the country's soft drinks market. In particular, the isotonic drinks segment in Mexico is the largest in Latin America.
  • During the covid inflicted lockdown, industries were forced to shut down operations as the employees and workers were unable to report for work. Strict government regulations to curb the spread further aggravated the situation in the initial days. Owing to this, the demand for industrial-grade plastic declined in till the companies found a way to operate with limited strength. This impacted the industrial-grade rigid plastic demand equally.

Mexico Rigid Plastic Packaging Industry Segmentation

The scope of the study focuses on the market analysis of Rigid plastic packaging sold across Mexico. Market sizing encompasses the revenue generated through Rigid plastic packaging sold by various market players. The study also tracks key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. In addition, the overall impact of COVID-19 on the ecosystem is analyzed. The scope of the report encompasses market sizing and forecast for segmentation by Material Type, Product Type, and End-user type.

By Material Type
PE (Polyethylene) - HDPE and LDPE
PP (Polypropylene)
PET (Polyethylene Terephthalate)
PVC (Polyvinyl Chloride )
PS and EPS (Polystyrene and Expanded Polystyrene)
Other Rigid Plastic Materials
By Product Type
Bottles and Jars
Trays and Containers
Bulk Grade Products
Intermediate Bulk Container (IBC)
Crates and Pallets
Other Product Types
By End-user Type
Food
Beverages
Industrial and Construction
Automotive
Other End-user Types
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Mexico Rigid Plastic Packaging Market Size Summary

The Mexico rigid plastic packaging market is experiencing a steady expansion, driven by its unique properties such as stiffness, high impact strength, and barrier capabilities. The food industry significantly contributes to this market, with packaging being a major driver of Mexico's plastics sector. The demand for packaged food and pharmaceuticals surged during the pandemic, although concerns about virus survival on plastic materials initially hindered growth. The market is characterized by a high degree of fragmentation, with key players like Amcor, Grupo Phoenix, and Berry Group competing alongside regional firms. The industrial sector's recovery post-pandemic is expected to bolster the demand for rigid plastic packaging, particularly in the food, beverage, and pharmaceutical industries.

Mexico's strategic position in global trade, supported by numerous free trade agreements, enhances the demand for rigid plastic packaging, especially in logistics and transportation. The country's manufacturing sector is evolving, with increased production of high-value products such as electronics and medical devices, creating opportunities for foreign investment. The demand for bottled water, driven by water security challenges in urban areas like Mexico City, further fuels the market. Recent innovations in sustainable packaging solutions, such as those by Aptar and Berry Global, reflect a growing focus on environmental impact, aligning with global sustainability trends.

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Mexico Rigid Plastic Packaging Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Material Type

      1. 2.1.1 PE (Polyethylene) - HDPE and LDPE

      2. 2.1.2 PP (Polypropylene)

      3. 2.1.3 PET (Polyethylene Terephthalate)

      4. 2.1.4 PVC (Polyvinyl Chloride )

      5. 2.1.5 PS and EPS (Polystyrene and Expanded Polystyrene)

      6. 2.1.6 Other Rigid Plastic Materials

    2. 2.2 By Product Type

      1. 2.2.1 Bottles and Jars

      2. 2.2.2 Trays and Containers

      3. 2.2.3 Bulk Grade Products

        1. 2.2.3.1 Intermediate Bulk Container (IBC)

        2. 2.2.3.2 Crates and Pallets

      4. 2.2.4 Other Product Types

    3. 2.3 By End-user Type

      1. 2.3.1 Food

      2. 2.3.2 Beverages

      3. 2.3.3 Industrial and Construction

      4. 2.3.4 Automotive

      5. 2.3.5 Other End-user Types

Mexico Rigid Plastic Packaging Market Size FAQs

The Mexico Rigid Plastic Packaging Market size is expected to reach USD 3.34 billion in 2024 and grow at a CAGR of 4.53% to reach USD 4.18 billion by 2029.

In 2024, the Mexico Rigid Plastic Packaging Market size is expected to reach USD 3.34 billion.

Mexico Rigid Plastic Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)