South & Central America EVOH Resins Market Forecast to 2028 - Regional Analysis - By Application (Films, Tray, Bottles, Bag-in-box, and Others) and End-Use (Bakery and Confectionery, Beverages, Sauces and Dressings, Meat Poultry and Seafood, RTE Foods and

South & Central America EVOH Resins Market Forecast to 2028 - Regional Analysis - By Application (Films, Tray, Bottles, Bag-in-box, and Others) and End-Use (Bakery and Confectionery, Beverages, Sauces and Dressings, Meat Poultry and Seafood, RTE Foods and Meals, and Others)

The South & Central America EVOH Resins Market is expected to grow from US$ 24.44 million in 2022 to US$ 29.57 million by 2028. It is estimated to grow at a CAGR of 3.2% from 2022 to 2028.

Rules and Regulations Regarding Use of Sustainable Eco-Friendly Packaging Fuel South & Central America EVOH Resins Market

Growing consumer awareness regarding the environmental concerns and strict government regulations related to the toxic packaging fuel the demand for EVOH resins in the food sector. To reduce the environment contamination, manufacturers are adopting eco-friendly packaging solutions, which, in turn, boosts the sales of eco-friendly materials.

For instance, certain Brazilian states have passed municipal regulations prohibiting the distribution of plastic bags in supermarkets to limit plastic waste. In 2019, a regulation was passed in Rio de Janeiro to replace plastic bags generated from oil in supermarkets with bags made from renewable materials. Moreover, the Chilean government passed new legislation in May 2021 to eliminate all single-use goods in the food and beverage industry, including plastics, within three years. It is the first national-level legislation in the world to prohibit single-use F&B goods made of plastic, cardboard, and other materials, rather than only single-use plastics. Further, consumers are increasingly inclined toward green, low-carbon products to eliminate waste pollution. EVOH packaging is environmentally friendly because it has a low carbon footprint and can be easily recycled. Unlike plastic and paper containers, it does not produce waste and does not need wood cutting for raw materials. These benefits increase the demand for EVOH resins for eco-friendly food packaging, which propels the market growth.

South & Central America EVOH Resins Market Overview

The key countries in South and Central America are Brazil and Argentina. The packaged foods market is mainly driven in this region because of the growing food and beverages sector. The Supermarkets and Hypermarkets have emphasized food products quality and price competitiveness, and they are considered as the most prominent channels for packaged foods, and therefore the market of packaged foods is expected to increase over the forecast period. These factors might increase the usage of EVOH resins for the food packaging, driving the demand for EVOH resins in the region.

The extensive barrier and antistatic properties of EVOH resins is also driving the market, market participants in the EVOH packaging films market are driving demand for raw materials with highly specialized properties due to growing industrial and consumer applications of barrier packaging materials. Due to this, many businesses are concentrating on making strategic decisions in order to capture a competitive market share. The demand for long-lasting EVOH packaging films that maintain the food product quality for extended periods of time by serving as a barrier to various gases and dust particles present in the atmosphere is expected to rise due to these properties.

Population growth and demand for food away from home are fueling the packaged foods sector. The demand for packaged foods will rise as the working-class population grows, spurring growth in the regional food packaging industry directing to increase in consumption of EVOH, hence driving the EVOH films market forward.

South & Central America EVOH Resins Market Revenue and Forecast to 2028 (US$ ‘000)

South & Central America EVOH Resins Market Segmentation

The South & Central America EVOH resins market is segmented into application, end use, and Country.

Based on application, the South & Central America EVOH resins market is segmented into films, tray, bottles, and bag-in-box and others. The films segment held the largest share of the South & Central America EVOH resins market in 2022.

Based on end use, the South & Central America EVOH resins market is segmented into bakery and confectionery, beverages, sauces and dressings, meat poultry and seafood, RTE foods and meals, and others. the meat poultry and seafood segment held the largest share of the South & Central America EVOH resins market in 2022.

Based on country, the South & Central America EVOH resins market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America EVOH resins market in 2022.

Solvay SA, Arkema, SK Functional Polymer SAS, and Kuraray Europe GmbH are some of the leading companies operating in the South & Central America EVOH resins market.

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