The current regime of the processed food industry has been paving opportunities for the processed cheese and meat market in Mexico, which in turn, is creating a requirement for flexible packaging. Despite environmental regulations that were expected to pose as a challenge, the Mexican PM & PC flexible packaging market size is continuously growing and especially so when the players are striving to capitalize on the catapulting demand for the same. For instance, in July 2018, Flair Flexible Packaging opened a new production facility in El Zapote, Jalisco, Mexico. The project is envisioned to provide ample supply corresponding to the demand in the Mexican flexible packaging marketplace. Additionally, Mexico is a prominent producer of a wide range of cheese, which further augments the demand for processed cheese flexible packaging that includes all types of packages – vacuum packing, aluminum foil, modified atmosphere packaging, active packaging, and retort pouches.
The Mexican PM flexible packaging market is on an upward spiral also because of the abundant non-vegetarian consumers and the consistent demand for meat from the booming processed food market in the country. This is backed by the lucrative opportunities in the convenience food market of the country.
Despite the existence of local manufacturers of flexible packaging such as Cintex Flexible Packaging, Berry Global, Bemis Flexible Packaging de Mexico, and others that are leveraging the profitable pricing environment due to the economic and food industry boom, the country still happens to be a lucrative target for the PM & PC flexible packaging market players that export the material to Mexico. The growth prospects for the exporters in quite evident with the increasing import of sheets, films, foil & strip of non-cellular plastics, and other materials that are used in flexible packages.
According to the International Trade Centre (ITC), in 2018, Mexico’s import value of the aforementioned materials was gauged at $2.20 billion, and the value witnessed year on year increment of 12% which evinces definite possibilities of growth prospects in the Mexican PM & PC flexible packaging market – size of which was evaluated at 435.7 Million as of 2018 with a projection of growth at a CAGR of 4.96% during the forecast period 2019-2025.
The expansion of the Mexican PM & PC Mexican flexible packaging market size also resonates with the growing import value of raw materials from other countries purchased for indigenous production.
The below tables lists the import value of these raw materials in Mexico –
Table
1 – The Import Value of Raw Materials of Flexible Packaging
Sr. No. |
Material |
Import Value in 2018 (USD) |
Growth Rate Year on Year (2017-18) |
1 |
Aluminum Foil |
$7.03 billion |
19% |
2 |
BOPP |
$2.20 billion |
12% |
3 |
Polythene |
$2.18 billion |
19% |
4 |
Polyethylene
Terephthalate |
$2.26 billion |
12% |
Data Source – ITC
Evidently, there is a phenomenal growth in the import of raw materials used packaging. Due to the burgeoning demand from the processed meat and cheese segment, a substantial part of this imported raw material is utilized for the packaging purpose. The upcoming years are poised to witness growth prospects for the flexible packaging market manufacturers and the producers of raw materials for export to Mexico.
Mexican
PM & PC Flexible Packaging Market Growth Drivers:
· The Mexican PM
& PC Flexible Packaging Market Key Application: Vacuum Packages –
The key application in the Mexican PM & PC flexible packaging market – vacuum packages, will be growing at a CAGR of 5.1% through to 2025. The demand for vacuum packages predominantly emerges from the processed meat market, because vacuum packages increase the shelf life of meat by removing oxygen from the container. Now, the meat market is booming owing to the abundance of meat consumers in the country. The upcoming years are poised to witness an augmented production of meat due to the population growth which will be generating an increased demand. This, in turn, will lead to an increasing demand for vacuum packages in the Mexico PM flexible packaging market.
· The Mexican
Cheese Industry Scenario Creating an Advantage for the PC Flexible Packaging
Market –
The waves of the Mexican dairy industry are entirely in the direction favorable to the flexible packaging market. The domestic production scene of Mexico dairy industry is more about monopolizing and creating a self-sufficient facility for fluid milk and other high-quality ingredients. This is leading to a rather propitious shift in the cheese market and more so when the processed cheese market is gaining revenue sources. Due to the growth in the intrinsic manufacturing of processed cheese, the import of the same declined by 1% in 2018 according to ITC, and the upcoming years foresee further declination in the import due to the aforementioned growth in the domestic production. Now, this is creating a demand for packaging material in the Mexican cheese market. Considering the contemporary surge in the Mexican cheese manufacturing industry, the forecast period will witness a definite progress of the Mexican PC flexible packaging market.
· The Country’s
Meat Industry Generating the Mexican PM Flexible Packaging Market –
The major population of Mexico is heavy consumer of meat. According to the 2019 report by the Organisation for Economic Co-operation and Development (OECD), the per capita consumption for pork was approximately 12 kg during the FY2016. Furthermore, 4.1% of the total food expenditure was attributable to pork meat. This evinces the hefty consumption of meat in the country, which increases the Mexican PM flexible packaging market size.
Apart from the aforementioned factors, the economic resilience shown by Mexico is playing a major role in the buoyancy acquired by a gamut of markets that include processed food industry. The industry is further propelling due to the increasing convenience food demand which is a byproduct of rapid urbanization and changing lifestyle. The forecast period foresees Mexican PM & PC market players further capitalizing on the increasing demand.
Mexican
PM & PC Flexible Packaging Market Top Companies:
The major players striving to acquire maximum Mexican PM & PC flexible packaging market share are Bemis Company, Inc., Amcor plc, ProAmpac LLC, Berry Global, Inc., The Smurfit Kappa Group plc, Sealed Air Corporation, Coveris Group, Sonoco Products Company, and Emsur (A division of Lantero Group).
Talk to one of our sales representative about the full report by providing your
details in the link below:
https://www.industryarc.com/support.php?id=19038
Related
Reports:
A. Flexible Packaging Market
https://www.industryarc.com/Report/15186/flexible-packaging-market.html
B. Medical Flexible Packaging Market
https://www.industryarc.com/Research/Medical-Flexible-Packaging-Market-Research-503833
Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.
To request for a quote, provide your
details in the below link:
https://www.industryarc.com/reports/request-quote?id=19038
Media
Contact:
Mr. Venkat Reddy
Sales
Manager
Email: [email protected]
Contact Sales: +1-614-588-8538 (Ext-101)
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.