Latin America Rigid Packaging Market Report and Forecast 2024-2032

Latin America Rigid Packaging Market Outlook

The Latin America rigid packaging market size attained approximately USD 32.71 billion in 2023. The market is estimated to grow at a CAGR of 5.5% in the forecast period of 2024-2032, reaching a value of around USD 52.77 billion by 2032.

Key Trends in the Market

Rigid packaging refers to packaging commonly made of glass, plastic, and paperboard, among others. This packaging offers excellent durability and is mainly used in luxury products such as branded watches, wine bottles, and jewellery, among others, which require superior protection.

• The increasing preference for rigid packaging due to its benefits such as high strength, stiffness, superior barriers, and protection against contamination is a crucial Latin America rigid packaging market trend.

• Growing environmental concerns have led to an increase in the demand for paper packaging as a substitute for plastic packaging. Market players are attempting to develop innovative materials that can enhance the functionality of rigid paper packaging and boost its usage in houseware and thin wall packaging applications.

• The Latin America rigid packaging market demand can be attributed to the rising demand for luxury goods among the affluent population in the region. Manufacturers prefer rigid packaging for packaging premium beverages due to their attributes such as high resistance against breakage, lightweight, and recyclability.

Market Analysis

Based on material, the market is divided into plastic, metal, paper and paperboard, glass, and bioplastic. On the basis of product type, the Latin America rigid packaging market segmentation includes boxes, trays, containers and cans, bottles and jars, and pallets, among others.

Based on application, the market is segmented into food and beverages, pharmaceuticals, personal care and cosmetics, and electrical and electronics, among others. On the basis of country, the market is categorised into Brazil, Argentina, Mexico, Chile, and Colombia, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Latin America rigid packaging market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Amcor Limited 

• Berry Global Inc. 

• Sonoco Products Company 

• Silgan Holdings Inc. 

• Sealed Air Corporation 

• Grupo Lantero 

• AptarGroup, Inc. 

• Wista Packaging 

• Others

Market Share by Material

Plastic is expected to represent a significant portion of the Latin America rigid packaging market share as it can be easily moulded into various shapes and sizes according to the requirement of manufacturers. Its features such as high durability, cost-effectiveness, and stability also favour its utilisation over any other material.

Furthermore, plastic rigid packaging is preferred in food applications as it keeps food products fresh for a longer time and prevents contamination. Additionally, paper packaging is expected to witness a healthy growth in the forecast period amid the growing demand for eco-friendly packaging.

Market Share by Application

According to the Latin America rigid packaging market analysis, the food and beverages sector is expected to account for a substantial market share due to the rise in the demand for processed and frozen foods among the working population with busy schedules. Furthermore, the utilisation of rigid packaging in beverages such as wine to prevent their bottles from breakage is likely to further catalyse the market in the coming years.

Competitive Landscape

Amcor Limited, founded in 1896, is an international packaging company that provides flexible and rigid packaging. The company, with its headquarters in Zurich, Switzerland, offer its product and services for the food and beverages, pharmaceutical, and personal care sectors, among others.

Berry Global Inc., a plastic packaging company, was founded in 1967 and has its headquarters in Indiana, the United States. The company provides products such as containers, jars, lids, and bottles, among others.

Sonoco Products Company, founded in 1899 and based in South Carolina, the United States, is a provider of consumer packaging and industrial packaging products. Some of the sectors it serves are beauty and personal care, household, healthcare, construction, and textile, among others.

Other Latin America rigid packaging market players include Silgan Holdings Inc., Sealed Air Corporation, Grupo Lantero, AptarGroup, Inc., and Wista Packaging, among others.

Key Highlights of the Report