Central & South America Flexible Packaging Market Accelerates Toward USD 5.3 Billion by 2015
A report projects that Central and South America’s flexible packaging market value will climb to USD 5.3 billion by 2015, with an average annual growth rate forecast at 4.6%. The expansion is attributed to factors including continued supermarket retail development, steady population growth, a larger working-women demographic and young consumers’ strong interest in flexible packaging. Since 2005, sustained local economic growth has also driven rapid development in Central and South America’s infrastructure and food-processing sectors.
According to the report, the region’s flexible packaging market value has already reached USD 4.3 billion, growing at about 5.3% annually. Within that total, Brazil saw demand rise by 48%, while Colombia and Argentina combined increased by 67%.
At present, Brazil’s food industry meets “modern” international standards, with about 40% of food reaching the households of roughly 200 million people through various channels. Demand is expected to grow 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 only 1% relying on imports and 2% exported to other Central and South American countries. PET flexible film is still imported from China and India, equipment maintenance and repair are also part of the picture; locally, there are many BOPP and PE film producers, but PET film is produced in only one region.
A relevant person in charge at PCI Films said that local enterprises in Central and South America currently mainly serve the local flexible packaging market, and some businesses with diversified operations still hope to expand through the local market, including through alliances or acquisitions of other local enterprises.
This article is republished from China Packaging Network (news.pack.cn); the original link is http://news.pack.cn/show-371981.html. Copyright belongs to the original author, and this piece is for industry exchange and learning only.
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