Latin America Flexible Packaging Market 2022-2028
MARKET OUTLOOK
Triton’s research report states that the Latin American flexible packaging market is estimated to witness progress at a compound annual growth rate of 4.31% in value and 3.22% in volume during the forecast period 2022-2028. Brazil, Mexico, and Rest of Latin America outline the market in this region.
A large population base is engaged in the production of agricultural products in Brazil. In this regard, flexible packaging has gained significant traction as an ideal packaging solution. Meat, poultry, and frozen food products are among the key end-user industries witnessing a high demand for flexible packaging solutions. Further, the growing processed food industry is adding to the growth of the flexible packaging market across Brazil.
In Mexico, the distribution network in Mexico is well-established for the launch of new products. The demand for increased shelf life and small pack sizes is rising at a rapid pace. However, the price of such goods creates numerous barriers for the studied market. Nevertheless, the increasing demand for vacuum-packed fruits and vegetables and frozen products are expected to increase the demand for flexible packaging. Along with this, the growing agriculture industry is also influencing the adoption of flexible solutions, thereby driving the flexible packaging market on a growth path.
COMPETITIVE OUTLOOK
The key companies in the flexible packaging market include Rengo Co Ltd, Asahi Kasei, EPAC, Solvay S.A., TCL Packaging, and Bryce Corporation.
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