Hyderabad, Jan. 25, 2023 (GLOBE NEWSWIRE) --
The expansion of online shopping for everyday fresh foods, FMCG goods, electronics, and clothing is anticipated to boost Mexico Plastic Packaging industry growth. New opportunities for industrial expansion will be made accessible by the e-commerce sector's strong growth in Mexico. Additionally, the packaged food & beverage sector has seen strong expansion throughout the past few years. The COVID-19 pandemic negatively influenced the market due to the countrywide lockdown, which led to the closure of many manufacturing locations. However, the COVID-19 pandemic has given a new foothold to single-use plastics previously criticized for the waste they generate.
Rigid Plastics are anticipated to contribute more than 60% of the market share by the end of 2022. Rigid plastic packaging provides unique benefits, such as high impact strength, stiffness, and high barrier properties, which have expanded the rigid plastic packaging market in recent years. The increasing need for rigid plastic packaging in the healthcare sector has been one of the essential aspects driving industry growth in recent years, states Ashish Gautam, Research Manager at Mordor Intelligence. Inert properties of rigid plastics, added with physical properties such as durability, transparency, lightweight, and cleanliness, increased the usage of rigid plastics in the storage and packaging of medical products. Companies in the region invest in new equipment and expand the production and recycling of rigid plastics. For instance, in January 2022, Austria-based packaging supplier Alpla and Coca-Cola FEMSA partnered to build a PET recycling plant in South Mexico with an investment of USD 60 million and an annual capacity of 50,000 tons of reusable PET material.
The Mexican food industry is one of the major consumers of the plastic packaging market due to the increasing demand for easy-to-use and small packaging solutions, with the growing consumer demand for ready-to-eat types. Due to the expansion of the food companies in the Mexican region, the demand for rigid plastic packaging may increase. Rigid plastics are the lightest and least expensive packaging material to carry. Users can also make designs as tiny as possible, allowing for shipping more products per shipping. Benefits such has these allow more companies to adopt rigid plastic packaging.
Further, Mexico's growing focus is on innovative and cost-effective plastic packaging materials. Hence, market players are keeping track of the shifting trends in packaging and making efforts to capture the market with higher technology orientation. For instance, in March 2021, Amcor launched recycle-by-design sachet packs for chocolate powder in Latin America. The new product reduces the material’s carbon footprint by 53% and water consumption by 84% when recycled. The launch is in line to meet the sustainable packaging demands from Mexico, Brazil, and Chile, among other countries.
Apart from these, with the increasing shift toward sustainability and technological advancements in packaging products, companies in Mexico are rapidly adjusting courses to navigate uncertainties, but innovation and transformation remain fundamental priorities. Moreover, the flexible plastic packaging market will witness significant growth with the increasing demand for medical and healthcare supplies. For instance, Envy Pack is also continuing its operation to supply medical and healthcare packaging solutions in clear pouch pockets and adhesive-backed sleeves, with and without print, to meet the demand. This supports the general trend from rigid to flexible packaging, offering greater convenience and better fits today’s lifestyle needs.
About Mordor Intelligence -
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics. Get a glance at the Mexico Plastic Packaging Market or ask for a more customised report.
