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.
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.
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.
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).
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
Mr. Venkat Reddy
Contact Sales: (+91) 40-485-49062