Latin America Flexible Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)
The Latin American flexible packaging market is expected to register a CAGR of 3.89% during the forecast period. With the recent outbreak of COVID-19, flexible packaging manufacturers have been flooded with a pool of issues that are expected to be only for the short term. Some of the effects of lockdown include supply chain disruptions, lack of availability of raw materials used in the manufacturing process, labor shortages, fluctuating prices that could cause the production of the final product to inflate and go beyond budget, shipping problems, etc.
Key HighlightsThe Latin American flexible packaging market comprises several global and regional players and is moderately consolidated. As the market poses low barriers to entry for the new players, several new entrants have been able to gain traction. This market is characterized by low product differentiation, growing levels of product penetration, and high levels of competition. Sustainable competitive advantage can be gained through design, technology, and application innovation.
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