Central and South America Flexible Packaging Market Outlook: USD 5.3 Billion by 2015
By 2015, the flexible packaging market value in Central and South America is forecast to reach USD 5.3 billion, with an average annual growth rate of 4.6%.
The report also points to several factors behind this market value growth: continuing expansion of supermarket retailing, steady population increases, more working women, and strong acceptance of flexible packaging among younger consumers. Since 2005, sustained local economic growth has also fueled rapid expansion in Central and South America's infrastructure and food processing sectors.
The region's flexible packaging market value has already reached USD 4.3 billion, according to the report, growing at about 5.3% annually. Brazil recorded a 48% rise in flexible packaging demand, while Colombia and Argentina together saw a 67% increase.
At present, Brazil's food industry meets 'modernized' international standards, with 40% of food reaching the homes of about 200 million people through various channels. Demand is expected to rise substantially during major international events such as the 2014 World Cup and the 2016 Summer Olympic Games.
Brazil's flexible packaging demand is mainly met by domestic manufacturers, with imports accounting for only 1% and exports to other Central and South American countries at 2%. For PET flexible film, equipment maintenance and servicing are still imported from China and India; the local market has numerous BOPP and PE film producers, but PET film is manufactured in only one region.
A representative from PCI Films noted that local companies in Central and South America primarily serve the regional flexible packaging market. Some diversified businesses still aim to expand through the local market, including via alliances or acquisitions involving other local firms.
This article is reprinted from China Packaging Network (news.pack.cn). Original link: http://news.pack.cn/show-371954.html. All rights belong to the original author; this article is for industry exchange and learning only.
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