Market Trends of Mexico Rigid Plastic Packaging Industry
Demand For PET Bottles is Expected to Witness High Growth
- Plastic bottles crafted from PET are increasingly supplanting their heavier and more fragile glass counterparts. This shift can be attributed to PET's ability to provide reusable packaging for mineral water and various beverages, facilitating more cost-effective transportation.
- PET, known for its clarity and natural barrier against CO2, boasts diverse applications and can be effortlessly molded into bottles or other shapes. Furthermore, by incorporating colorants, UV blockers, oxygen barriers/scavengers, and other additives, the properties of PET can be tailored to align with a brand's unique requirements.
- In recent years, heightened consumer awareness about the environmental benefits of eco-friendly packaging has propelled the adoption of sustainable packaging solutions. PET, recognized for its recyclability and potential for circularity, has become a key resin in the quest for eco-friendly packaging materials.
- Post-pandemic, there was a significant shift toward healthy and hygienic product packaging. Owing to its eco-friendly nature, PET became a better choice as a packaging material for packaging healthy organic products.
- As reported by Agriculture and Agri-Food Canada, retail sales of organic beverages in Mexico are projected to soar to USD 35 billion, a substantial leap from USD 24.8 million in 2022. This upward trajectory is anticipated to continue during the forecast period, fueling the demand for sustainable PET bottles in the organic beverage industry.
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Rising Demand For Food Packaging Drives the Market
- Mexico boasts a rich tapestry of dining options, from time-honored eateries to contemporary restaurants. The food and beverage industry has grown significantly, encompassing restaurants, fast-food outlets, cafes, supermarkets, and street food vendors. This can be attributed to shifting consumer lifestyles, increasing emphasis on convenience, and varied packaging choices.
- Ranked among the world's top ten producers of packaged food, Mexico plays a pivotal role as a significant exporter. Notably, Mexico emerged as the leading food supplier to the United States, providing a substantial portion of its imported agri-food products. With a rising trend of Mexican consumers purchasing packaged food, many producers are ramping up their capacities to meet the burgeoning demand.
- Consumer demand for convenience food products is propelling US packaged food imports, even as high inflation in Mexico sways purchasing choices. Leading product prospects encompass private-label offerings across all categories, particularly dairy, including cheese, convenience foods, health-centric foods, and plant-based options.
- According to the Organic Trade Association, organic packaged food sales in Mexico totaled USD 63 million in 2021 and are projected to reach USD 84 million by 2025. This is expected to bolster the demand for rigid plastic food packaging options during the forecast period.
