The food containers market size in Latin America is expected to be valued at USD 28.44 billion by 2029 from USD 24.18 billion in 2024, growing at a CAGR of 3.3% from 2024 to 2029.
The emergence of packaged food as one of the most lucrative segments of the Latin American food and beverage industry in the past few years has fuelled large-scale developments across the market for food containers. The continuously widening array of available product varieties in the market and their broadening scope of applications are presenting significant growth opportunities to companies operating in the field of food packaging. Food containers are utilized in the form of flexible bags, rigid plastic containers, sacks, paperboard, metal containers, and glass bottles increasing the importance of flexible packaging material in the nutrition industry because of exhibiting splendid properties like aroma retention, good heat insulation, and moisture barrier resistance is anticipated to drive the market over the aforementioned forecast period.
The growing concerns over greenhouse emissions in the F&B industry and stringent regulations aimed at reducing carbon dioxide usage are further expected to promote the demand for sustainable packaging goods derived from bioplastics in Latin America. Furthermore, the rising importance of secure disposal and lightweight the packaging in F&B industry is anticipated to have a significant impact over the forecast period. Upgrading the organic personal care industry of Germany and France is anticipated to promote packaging activity thereby reducing the access of raw materials to the food processing sector. Moreover, stringent regulatory norms aimed at controlling deforestation worldwide are anticipated to reduce the availability of paper as a feedstock for the production of food containers.
The flexible packaging segment in the Latin American market in 2023 and accounted for 41.4% of the share of the Latin American market. The growing importance of thin-film packaging in the nutritional industry as a protective medium for improving the shelf life of finished food goods is anticipated to promote application growth over the forecast period.
The rigid packaging segment is estimated to register a CAGR of 4.4% during the forecast period. Technological innovation in terms of the development of biodegradable plastics by market players like Cargill Foods is likely to open new market opportunities for the rigid packaging product forms over the forecast period.
The meat processing segment was the largest segment in the Latin American market and accounted for the major share of the global market in 2023. The growth of the meat processing segment in the Latin American market is majorly driven by the growing sales volumes of frozen beef product forms in developed countries including the U.S. and Germany.
The dairy goods segment is predicted to witness a CAGR of 4% over the forecast period. Product innovation by Fonterra, Kerry Foods, and Dairy Foods America Inc., along with the development of new products like cheese and chilled desserts, are anticipated to play a vital role in growing the demand for containers over the forecast period.
Silgan, Ball Corporation, Bemis, Ardagh, Berry Plastics, Caraustar Industries and Graham Packaging are a few of the major players in the Latin American food containers market.
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