Thursday, March 28, 2024
Thursday, March 28, 2024
HomePet Industry NewsPet Financial NewsGrowing at a CAGR of 3.40% in 2022-2027, the Mexico Plastic Packaging...

Growing at a CAGR of 3.40% in 2022-2027, the Mexico Plastic Packaging Market is driven by high usage of plastic packaging products and demand for flexible packaging solutions, says Mordor Intelligence

Date:

Related stories

-Advertisement-spot_img
-- Advertisment --
- Advertisement -
Source- Mordor Intelligence

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.

CONTACT: Company Name: Mordor Intelligence Private Limited Contact Person: Abhishek Email: [email protected] Phone: +1 617-765-2493 Address:5th Floor, Rajapushpa Summit, Nanakramguda Rd, Financial District, Gachibowli City: Hyderabad State: Telangana 500008 Country: India
- Advertisement -
Pet News 2Day
Pet News 2Dayhttps://petnews2day.com
About the editor Hey there! I'm proud to be the editor of Pet News 2Day. With a lifetime of experience and a genuine love for animals, I bring a wealth of knowledge and passion to my role. Experience and Expertise Animals have always been a central part of my life. I'm not only the owner of a top-notch dog grooming business in, but I also have a diverse and happy family of my own. We have five adorable dogs, six charming cats, a wise old tortoise, four adorable guinea pigs, two bouncy rabbits, and even a lively flock of chickens. Needless to say, my home is a haven for animal love! Credibility What sets me apart as a credible editor is my hands-on experience and dedication. Through running my grooming business, I've developed a deep understanding of various dog breeds and their needs. I take pride in delivering exceptional grooming services and ensuring each furry client feels comfortable and cared for. Commitment to Animal Welfare But my passion extends beyond my business. Fostering dogs until they find their forever homes is something I'm truly committed to. It's an incredibly rewarding experience, knowing that I'm making a difference in their lives. Additionally, I've volunteered at animal rescue centers across the globe, helping animals in need and gaining a global perspective on animal welfare. Trusted Source I believe that my diverse experiences, from running a successful grooming business to fostering and volunteering, make me a credible editor in the field of pet journalism. I strive to provide accurate and informative content, sharing insights into pet ownership, behavior, and care. My genuine love for animals drives me to be a trusted source for pet-related information, and I'm honored to share my knowledge and passion with readers like you.
-Advertisement-

Latest Articles

-Advertisement-

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!