Latin America Plastic Bottles/Containers Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023-2028)
The Latin America Plastic Bottles/Containers Market is expected to grow at a CAGR of 5.31% over the forecast period. Plastic bottle/container sales are rising in Latin America due to rising bottled water demand. The demand for mineral water in Latin America is set to increase due to growing health concerns, which is also anticipated to drive the market for PET bottles in the region.
Key HighlightsThe Latin American plastic bottle and container market are moderately fragmented in nature. Some major players are Amcor PLC, Graham Packaging Company, Plastipak Holdings Inc., and ALPLA Group. Factors, such as the increasing demand for food and beverages will provide considerable growth opportunities in the plastic bottles and containers market. Therefore, many companies are seeing this market as an emerging one.
June 2022: Amcor and the Minderoo Foundation partner to create plastic recycling facilities. The construction of sorting and recycling facilities will be funded by the collaboration known as Sea The Future. The first three hubs will be Indonesia, the Netherlands, and Brazil. Minderoo (STF) intends to start building the first sorting and recycling facilities within two years. The first three recycling centers want to attract roughly USD 300 million in new investments in plastic recycling facilities worldwide, create about 150,000 metric tons of recycled plastic annually, and stop 200,000 metric tons of plastic trash from being landfilled.
January 2022: A recycling facility was built in the Cunduacán municipality of Mexico's Tabasco state by ALPLA and the Mexican beverage company Coca-Cola FEMSA. The recycling facility, known as Planta Nueva Ecologa de Tabasco (PLANETA), is being developed with an expenditure of USD 60 million. It will have new technology and an annual processing capacity of 50,000 tonnes of PET bottles made of polyethylene terephthalate. The PLANETA recycling facility will produce 35,000 tonnes of ready-to-use recycled PET material annually.
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