Mexico - Latin America Fresh Food Packaging Market Size & Outlook
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- Fresh Food Packaging Market Outlook
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Mexico - Latin America Fresh Food Packaging Market, 2017-2028 (US$B)
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Mexico fresh food packaging market highlights
- The Mexico fresh food packaging market generated a revenue of USD 2.3 billion in 2020 and is expected to reach USD 3.4 billion by 2028.
- The Mexico market is expected to grow at a CAGR of 5.2% from 2021 to 2028.
- In terms of segment, rigid was the largest revenue generating type in 2020.
- Flexible is the most lucrative type segment registering the fastest growth during the forecast period.
Fresh food packaging market data book summary
| Market revenue in 2020 | USD 2.3 billion |
| Market revenue in 2028 | USD 3.4 billion |
| Growth rate | 5.2% (CAGR from 2020 to 2028) |
| Largest segment | Rigid |
| Fastest growing segment | Flexible |
| Historical data | 2017 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2028 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Rigid, Flexible |
| Key market players worldwide | Amcor PLC, DS Smith PLC, Mondi PLC, Coveris, Transcontinental Inc Shs -A- Voting Subord., Constantia Flexibles, Sealed Air Corp, Sonoco Products Co, Huhtamäki Oyj, Clondalkin Group, ProAmpac, Genpak, Winpak Ltd |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.9% of the global fresh food packaging market in 2020.
- Country-wise, China is expected to lead the global market in terms of revenue in 2028.
- In Latin America, Brazil fresh food packaging market is projected to lead the regional market in terms of revenue in 2028.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 5.5 billion by 2028.
Mexico is one of the fastest-growing economies in Latin America and is emerging as a manufacturing hub owing to favorable government policies, low labor costs, and developing infrastructure. Several manufacturers are shifting their manufacturing plants from the U.S. to Mexico to reduce production costs.
Thus, the growth of application industries is expected to positively influence the demand for fresh food packaging over the forecast period. Although rigid packaging dominated the Mexican fresh food packaging market, flexible packaging is expected to witness significant growth owing to the growing use of pouches, bags, wraps, and films by meat and dairy manufacturers in the region.
The high preference for economical and transport-friendly packaging is expected to drive the demand for flexible fresh food packaging over the forecast period.
Key Regions:U.S., UK, Japan, Brazil, Netherlands
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Publish Date: Aug 26, 2024
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Fresh Food Packaging Market Scope
Fresh Food Packaging Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Sonoco Products Co | View profile | 23,000 | 1 N. Second Street, Hartsville, SC, United States, 29550 | www.sonoco.com |
| Huhtamäki Oyj | View profile | 17,868 | Revontulenkuja 1, Espoo, Finland, 02100 | www.huhtamaki.com |
| Amcor PLC | View profile | 41,000 | 83 Tower Road North, Warmley, Bristol, United Kingdom, BS30 8XP | www.amcor.com |
| Sealed Air Corp | View profile | 17,000 | 2415 Cascade Pointe Boulevard, Charlotte, NC, United States, 28208 | www.sealedair.com |
| Mondi PLC | View profile | 21,773 | The Heights, Brooklands, Ground Floor, Building 5, Weybridge, Surrey, United Kingdom, KT13 0NY | www.mondigroup.com |
| Constantia Flexibles | View profile | 5001-10000 | Vienna, Wien, Austria, Europe | www.cflex.com |
| Genpak | View profile | 1001-5000 | Charlotte, North Carolina, United States, North America | www.genpak.com |
| DS Smith PLC | View profile | 29,672 | 1 Paddington Square, Level 3, London, United Kingdom, W2 1DL | www.dssmith.com |
| Transcontinental Inc Shs -A- Voting Subord. | View profile | 8,131 | 1 Place Ville Marie, Suite 3240, Affaires Juridiques,, A/s Caroline Hamel, Montreal, QC, Canada, H3B 0G1 | tctranscontinental.com |
| Coveris | View profile | 5001-10000 | Chicago, Illinois, United States, North America | www.coveris.com/ |
Mexico - Latin America Fresh Food Packaging Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Fresh Food Packaging Market Outlook will help companies and investors design strategic landscapes.
Rigid was the largest segment with a revenue share of 52.17% in 2020.
Horizon Databook has segmented the Mexico - Latin America fresh food packaging market based on rigid, flexible covering the revenue growth of each sub-segment from 2017 to 2028.
Mexico is one of the fastest-growing economies in Latin America and is emerging as a manufacturing hub owing to favorable government policies, low labor costs, and developing infrastructure. Several manufacturers are shifting their manufacturing plants from the U.S. to Mexico to reduce production costs.
Thus, the growth of application industries is expected to positively influence the demand for fresh food packaging over the forecast period. Although rigid packaging dominated the Mexican fresh food packaging market, flexible packaging is expected to witness significant growth owing to the growing use of pouches, bags, wraps, and films by meat and dairy manufacturers in the region.
The high preference for economical and transport-friendly packaging is expected to drive the demand for flexible fresh food packaging over the forecast period.
- Mexico - Latin America Fresh Food Packaging Market Type Outlook (Revenue, USD Million , 2017-2028)
- Rigid
- Flexible
- Mexico - Latin America Fresh Food Packaging Market Material Outlook (Revenue, USD Million , 2017-2028)
- Plastics
- Paper & Paper Board
- Bagasse
- Polylactic Acid
- Others
- Mexico - Latin America Fresh Food Packaging Market Application Outlook (Revenue, USD Million , 2017-2028)
- Eggs, Meat & Seafood
- Fruits & Vegetables
- Dairy Products
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico - Latin America Fresh Food Packaging Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - Latin America Fresh Food Packaging Market Outlook from 2017 to 2028, including revenue numbers, major trends, and company profiles.
Mexico - Latin America Fresh Food Packaging Market, 2017-2028 (US$B)
Mexico fresh food packaging market statistics, by type, 2017-2028 (US$M)
