Packaging Industry in Mexico Market Size (2024 - 2029)

The Mexico packaging market is experiencing significant growth, driven by factors such as longer product shelf life, evolving consumer lifestyles, and innovative products. The sector is attracting substantial foreign direct investments, particularly in flexible packaging, which is seeing increased demand for high-quality machinery. Plastic packaging is favored for its lightweight and cost-effective properties, contributing to its popularity among manufacturers. Despite environmental concerns potentially limiting expansion, the market is buoyed by rising demand for energy drinks and packaged foods, especially during the COVID-19 pandemic, which has led to increased consumption of fibers, films, and flexible packaging.

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Market Size of Packaging Industry in Mexico

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Mexico Packaging Industry Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 14.00 %
Market Concentration Low

Major Players

Mexico Packaging Industry Major Players

*Disclaimer: Major Players sorted in no particular order

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Mexico Packaging Market Analysis

The packaging industry in Mexico is anticipated to register a CAGR of 14% over the forecast period.

  • The longer product shelf life, changing lifestyle of people, and new innovative products across the region will drive market growth. The country's packaging landscape has been garnering high foreign direct investments across the food processing industry. This is expected to maintain an upward growth trend for flexible packaging demand. Consequently, manufacturers in the region have witnessed the demand for high-quality machines for packaging needs.
  • Plastic packaging has been observing a positive inclination from consumer products over other products for material handling, as plastic packages are lightweight and more comfortable. Furthermore, even major manufacturers prefer plastic packaging solutions owing to their lower production costs.
  • The Mexican market is one of the world's largest per capita consumers of soft drinks. But increasing health consciousness and concerns about obesity are leading to a growing focus on water and non-carbonated beverages. As physical activity across the country grows, the demand for energy drinks will improve, leading to the growth of plastic bottles in the country.
  • Packaging effectively protects the product from oxygen and moisture thanks to its longer and better barrier capabilities. However, it is projected that worries about the environment and recycling will hinder and limit market expansion.
  • Alternatively, amidst the outbreak of the COVID-19 pandemic, the demand for FMCG and packaged food has been leading to significant demand for fibers, films, and flexible packaging. Moreover, the stock-piling behaviors among consumers have led critical converters in the country to pre-order plastic film in anticipation of a shortage in packaging raw materials.

Mexico Packaging Industry Segmentation

Packaging Industry is of paramount importance and plays a vital role in the international trade of goods. Packaging can be classified based on their type of use, which is primary packaging, secondary packaging, tertiary packaging, and ancillary packaging.

The packaging industry in Mexico is segmented by packaging material (plastic, metal, glass, and other packaging types), packaging type (flexible packaging (pouches & bags, films and wraps, and tubes), rigid packaging (bottles and jars and trays and containers), and other packaging materials) and end-user vertical (personal care, home care, automotive, pharmaceutical, food and beverage, and other end user verticals).

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Packaging Material
Plastics
Metal
Glass
Other Packaging Material
By Packaging Type
Flexible Packaging
Pouches & Bags
Films and wraps
Tubes
Rigid Packaging
Bottles and Jars
Trays and Containers
Other Rigid Packaging Types
By End-user Vertical
Personal Care
Home Care
Automotive
Pharmaceutical
Food and Beverage
Other End-user Verticals
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Packaging Industry in Mexico Size Summary

The packaging industry in Mexico is experiencing robust growth, driven by factors such as longer product shelf life, evolving consumer lifestyles, and the introduction of innovative products. The sector is attracting significant foreign direct investments, particularly in the food processing industry, which is bolstering the demand for flexible packaging. This trend is prompting manufacturers to seek high-quality packaging machinery. Plastic packaging is gaining preference due to its lightweight and cost-effective nature, making it a popular choice among major manufacturers. The Mexican market's status as a leading consumer of soft drinks is shifting towards water and non-carbonated beverages, influenced by rising health consciousness. This shift is expected to enhance the demand for plastic bottles, especially with the increasing popularity of energy drinks. However, environmental concerns regarding recycling pose challenges to market expansion.

The competitive landscape of the Mexican packaging industry is marked by the presence of major players who dominate the market share and are focused on expanding their international consumer base. These companies are leveraging strategic joint ventures to enhance profitability and market presence. Innovations in packaging technology, such as Amcor Rigid Packaging's lightweight quantum technology and the DairySeal line, are contributing to sustainability and cost-effectiveness. Investments in infrastructure, like Smurfit Kappa's upgrade of its Nuevo Laredo plant, are aimed at increasing production capacity while reducing environmental impact. The growing demand for convenient and portable packaging solutions, such as stand-up pouches, reflects changing consumer preferences for on-the-go products.

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Packaging Industry in Mexico Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Intensity of Competitive Rivalry

      5. 1.2.5 Threat of Substitute Products

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Packaging Material

      1. 2.1.1 Plastics

      2. 2.1.2 Metal

      3. 2.1.3 Glass

      4. 2.1.4 Other Packaging Material

    2. 2.2 By Packaging Type

      1. 2.2.1 Flexible Packaging

        1. 2.2.1.1 Pouches & Bags

        2. 2.2.1.2 Films and wraps

        3. 2.2.1.3 Tubes

      2. 2.2.2 Rigid Packaging

        1. 2.2.2.1 Bottles and Jars

        2. 2.2.2.2 Trays and Containers

        3. 2.2.2.3 Other Rigid Packaging Types

    3. 2.3 By End-user Vertical

      1. 2.3.1 Personal Care

      2. 2.3.2 Home Care

      3. 2.3.3 Automotive

      4. 2.3.4 Pharmaceutical

      5. 2.3.5 Food and Beverage

      6. 2.3.6 Other End-user Verticals

Packaging Industry in Mexico Market Size FAQs

The Mexico Packaging Market is projected to register a CAGR of 14% during the forecast period (2024-2029)

Amcor PLC, Mondi PLC, Wipak Group, Sit Group SpA and Phoenix Closures Inc. are the major companies operating in the Mexico Packaging Market.

Packaging Market in Mexico Report Snapshots

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