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Global Packaging Outlook: Latin America

In Latin America, flexibles and PET lead packaging growth, with demand continuing to rise for smaller pack sizes and multipacks.

Global Packaging Outlook: Latin America
Global Packaging Outlook: Latin America

According to “Global Packaging Trends,” a new report compiled by Euromonitor International for PMMI Business Intelligence, Brazil is the largest packaging market in Latin America, with an expected 17.7 billion unit absolute volume growth by 2023 and approximately 40% of the region’s total sales. With an emerging middle class that makes up more than half of the population, consumer spending in Brazil maintained momentum even during the economic slowdown.

Flexible plastic is the most used packaging in Latin America's food industry, and confectionery, bakery, and pasta are thought to offer the best volume growth opportunities until 2023, at 8.6 billion units. Confectionery and savory snacks - the leading applications for flexible plastic – have pack type sizes ranging from below 5g to over 2.5kg. The smallest pack sizes, suitable for impulse purchases and on-the-go consumption, will drive the strong growth forecasted in these categories.

PET leads in beverage packaging in the Latin American markets, due to a versatility that is attractive to both manufacturers and consumers. Manufacturers prefer PET bottles because of their lightness, high shatter resistance, recyclability, and a cost effectiveness that helps reduce production costs. Consumers choose PET bottles because they are resealable and easily portable.

Beer packaging was the leading category in Latin America, with an expected 7.4 billion unit absolute volume growth by 2023. Glass bottles are the dominant packaging type, and the increased sales of craft and other premium beers helped to drive growth, as did returnability. Breweries are also betting on small pack sizes to control the retail price point, with the bulk of unit volume growth coming from 350 ml and 269 ml beverage can formats and 300 ml glass bottle size. Sales of multipack metal beer cans are exhibiting strong growth in Brazil and Mexico, however, as 12-packs and 18-packs dominate the multipack beer market in Brazil, and the 6-pack is dominant in Mexico.

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