During the forecast period 2023 to 2033, the Latin America rigid industrial packaging market is expected to surge at a CAGR of 3.5%. The market value is projected to increase from US$ 731.0 million in 2023 to US$ 1,026.7 million by 2033.
The rigid industrial packaging market was valued at US$ 706.7 million at the end of 2022 and is anticipated to exhibit Y-o-Y growth of 1.7% in 2022 to 2023.
The pallets segment with a market share of more than 49% has topped the global market within the product category and is expected to grow at a CAGR of close to 3.5% over the forecast period (2023 to 2033).
| Attribute | Details |
|---|---|
| Market Size 2023 | US$ 731 million |
| Market Size 2033 | US$ 1,026.7 million |
| Value CAGR (2023 to 2033) | 3.5% |
| Collective Value Share: Top 5 Countries (2023E) | 45% - 50% |
Industrial rigid packaging is known to be used to store and transport a variety of products across several sectors. High demand is witnessed from sectors like horticulture and agriculture, food & beverages, chemicals & solvents, construction, pharmaceuticals, oils and lubricants, and other industries.
Rigid industrial packagings such as pails, drums, rigid IBCs, and bulk boxes in several shapes are available on the market. These products are made from plastic, paper, metal, wood, and textile materials.
Rising industrialization is a major factor expected to drive the growth of the industrial rigid packaging market during the forecast period. In addition, growth in manufacturing activities in developing countries is likely to push the market over the assessment period.
Growing requirements for bulk rigid containers in food & beverage applications to store food ingredients, pulp, preservatives, and additives are driving the growth of the industrial rigid packaging market.
Rising demand for safe packaging of industrial products is expected to moderate the growth of the industrial rigid packaging market. The strong negative impact of the pandemic on the import-export activities of several end-use sectors is expected to somewhat hinder the development of the rigid industrial packaging market within the time framover the forecast period.
Key Trends
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The Latin America rigid industrial packaging market has anticipated a CAGR of 1.5% during the historic period with a market value of US$ 706.7 million in 2022 from US$ 656.1 million in 2018.
The Latin American rigid industrial packaging market has grown steadily over the last decade, owing to the region's developing industrial and manufacturing sectors. Increased demand from industries such as food and beverage, chemicals, and pharmaceuticals, which require dependable and long-lasting packaging solutions for their products, has propelled the market.
The expansion of the region's construction industry has also been a significant driver of the market, as rigid packaging materials are required for the transportation and storage of building supplies.
With the development of sustainable and ecologically friendly packaging solutions, the Latin America rigid industrial packaging market has evolved over the years to satisfy changing customer needs. The growing concern for the environment and sustainability has prompted a greater emphasis on recyclable and biodegradable packaging materials in the market.
Key Factors Driving Growth in Latin America
The expansion of the automotive sector in Latin America is augmenting revenues in the region's rigid industrial packaging market. The automotive industry is a big user of rigid industrial packaging, especially for transporting and storing vehicle parts and components.
As the automobile industry expands in Latin America, so does the demand for rigid packaging solutions. Rigid industrial packaging is a dependable and long-lasting solution for transporting car parts, which are frequently huge and heavy and require particular handling and protection throughout transit.
Furthermore, the region's automotive industry's expansion has resulted in increasing international investment and the creation of new production facilities. As a result, the supply chain has grown and there is a greater requirement for packaging solutions to secure and transport car parts and components.
As demand from the electrical and automotive sectors surges, the Latin American rigid industrial packaging market is predicted to rise at an exponential rate. Rigid industrial packaging is a suitable solution for the electronics and automotive industries, which require specific packaging solutions to transport and store their products.
To preserve electrical components during shipment and storage, the electronics sector requires specialized packaging. Rigid industrial packaging is a dependable and durable solution for ensuring the safe shipping of electronic components. The growing demand for electronics in Latin America is propelling the rigid industrial packaging industry forward.
High-Density Polyethylene (HDPE) is the Leading Segment
High-Density Polyethylene (HDPE) is the most commonly utilized material type because of its unique qualities and versatility. HDPE is a lightweight yet sturdy and durable material that is ideal for rigid industrial packaging applications.
HDPE is also impact, moisture, and chemical resistant, making it excellent for storing and transporting a variety of things such as chemicals, food, and pharmaceuticals. Furthermore, HDPE is a low-cost material, making it an appealing choice for both manufacturers and end users.
HDPE is a recyclable material, making it an environmentally beneficial choice for rigid industrial packaging. The growing emphasis on sustainability and environmental friendliness has increased demand for HDPE packaging solutions in the Latin American market.
The Agricultural Sector is Projected to Fuel the Market
The expansion of the agricultural business in South America is assisting the region's rigid industrial packaging market. The agriculture industry uses a lot of hard industrial packaging, especially for transporting and storing crops and other agricultural products. As the South American agriculture business expands, so does the demand for rigid packaging solutions.
Rigid industrial packaging offers a dependable and long-lasting solution for agricultural product transportation and storage, safeguarding them from damage and ensuring safe delivery to their final destination.
Furthermore, the growing emphasis on sustainability and environmentally friendly packaging solutions is propelling the development of eco-friendly packaging materials such as biodegradable and recyclable plastics, which are especially important in the agriculture industry. The use of sustainable packaging solutions can aid in the reduction of waste and the reduction of the environmental impact of agricultural operations.
Principal Consultant
| Country | Brazil |
|---|---|
| Market Share (2023) | 36% |
| Market Share (2033) | 35.5% |
| BPS Analysis | -50 |
| Country | Mexico |
|---|---|
| Market Share (2023) | 28% |
| Market Share (2033) | 31.7% |
| BPS Analysis | +370 |
| Country | Rest of LA |
|---|---|
| Market Share (2023) | 36% |
| Market Share (2033) | 32.9% |
| BPS Analysis | -320 |
Mexico’s Robust Construction Sector to Provide Steady Demand for Rigid Industrial Packaging Solutions
According to Future Market Insights (FMI), Brazil reached a valuation of US$ 162,932.3 million by 2022-end. It is further expected to cross a valuation of US$ 256,873.3 million by the beginning of 2033.
Construction activities in Mexico are fueling the expansion of the Latin American rigid industrial packaging market. To suit the packaging needs of building materials, rigid industrial packaging solutions are in demand in Mexico, one of Latin America's largest construction markets.
To transport and store hefty, bulky products like cement, bricks, and tiles, the construction sector needs specific packaging solutions. For the safe transportation of these commodities, rigid industrial packagings options like pallets, crates, and containers offer a dependable and durable solution.
Rigid Packaging Solutions for International Export of Agricultural Produce Driving Sales in Brazil
Brazil market for rigid industrial packaging was valued at US$ 205,448.3 million at 2022-end. It is further expected to cross a valuation of US$ 286,484.3 million by the time 2033 rolls around. The demand for rigid industrial packaging solutions in the nation is being driven by the rising demand for food and agricultural products coming from Brazil.
Agricultural products must be transported and stored in rigid industrial packaging solutions including crates, pallets, and containers. The demand for rigid industrial packaging solutions in Brazil is increasing as a result of the country's status as a major international exporter of agricultural goods and the expansion of its construction industry. This is fueling the expansion of the Latin American rigid industrial packaging market.
The key players in the market are gaining market value by developing innovations and advancements in the Latin America rigid industrial packaging market.
Key manufacturers are directing toward growth strategies such as mergers and acquisitions, and product development to enhance their customer base. Recent activities and mergers implemented by the leading player in the market are:
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| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.5% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ Million, Volume in units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material, Product, End-use |
| Regions Covered | Latin America |
| Key Countries Covered | Brazil, Mexico, Rest of Latin America |
| Key Companies Profiled | Grief Inc.; Unipac Embalagens Ltda.; Mausar Packaging Solutions; ALPLA Group; Kautex Textron GmbH & Co. KG; Berry Global Group, Inc.; Schutz Container Systems, Inc.; Plásticos Novel; Schoeller Allibert; Dolav Plastic Products; Textron Inc. |
The United States, Japan, and China dominate the global market.
The market is forecast to register a CAGR of 3.5% through 2033.
From 2018 to 2022, the market recorded a CAGR of 1.5%.
Technological advancement in the current market trends.
The global market size is to reach US$ 1,026.7 million by 2033.
1. Executive Summary 1.1. Market Outlook 1.2. Market Analysis 1.3. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product USPs / Features 4.3. Strategic Promotional Strategies 5. Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 5.1. Historical Market Volume (million units) Analysis, 2018 to 2022 5.2. Current and Future Market Volume (million units) Projections, 2023 to 2033 5.3. Y-o-Y Growth Trend Analysis 6. Market - Pricing Analysis 6.1. Pricing Analysis 6.2. Average Pricing Analysis Benchmark 7. Market Demand (in Value or Size in US$ million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7.1. Historical Market Value (US$ Million) Analysis, 2018 to 2022 7.2. Current and Future Market Value (US$ million) Projections, 2023 to 2033 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Packaging Market Overview 8.2. Macro-Economic Factors 8.3. Forecast Factors - Relevance & Impact 8.4. Value Chain 8.4.1. Exhaustive List of Raw Material Suppliers 8.4.2. Exhaustive List of Manufacturers and Converters 8.4.3. Exhaustive List of End-users / Brand Owners/Customers/Buyers 8.5. COVID-19 Crisis - Impact Assessment 8.5.1. Current Statistics 8.5.2. Short-Mid-Long Term Outlook 8.5.3. Likely Rebound 8.6. Market Dynamics 8.6.1. Drivers 8.6.2. Restraints 8.6.3. Opportunity Analysis 8.7. Supply Demand Analysis 9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ million) and Volume Analysis, by Material, 2018 to 2022 9.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast, by Material, 2023 to 2033 9.3.1. HDPE 9.3.2. PP 9.4. Market Attractiveness Analysis, by Material 10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ million) and Volume Analysis, by Product Type, 2018 to 2022 10.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast, by Product Type, 2023 to 2033 10.3.1. Drums 10.3.2. Jerry Cans 10.3.3. RIBC 10.3.4. Pales 10.3.5. Crates 10.3.6. Pallets 10.4. Market Attractiveness Analysis, by Product Type 11. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ million) and Volume Analysis, by End-use, 2018 to 2022 11.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast, by End-use, 2023 to 2033 11.3.1. Agriculture 11.3.2. Automotive 11.3.3. Food and beverage 11.3.4. Chemical 11.3.5. Buildings and construction 11.3.6. Pharmaceutical 11.4. Market Attractiveness Analysis, by End-use 12. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Introduction / Key Findings 12.2. Historical Market Size (US$ million) and Volume Analysis, by Country, 2018 to 2022 12.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast, by Country, 2023 to 2033 12.3.1. Brazil 12.3.2. Mexico 12.3.3. Rest of Latin America 12.4. Market Attractiveness Analysis, by Country 13. Country-wise Rigid Packaging Market Analysis 2023 & 2033 13.1. Brazil Rigid Packaging Market Analysis 13.1.1. By Material 13.1.2. By Product Type 13.1.3. By End Use 13.2. Mexico Rigid Packaging Market Analysis 13.2.1. By Material 13.2.2. By Product Type 13.2.3. By End Use 13.3. Rest of Market Analysis 13.3.1. By Material 13.3.2. By Product Type 13.3.3. By End Use 13.4. Chile Rigid Packaging Market Analysis 13.4.1. By Material 13.4.2. By Product Type 13.4.3. By End Use 14. Market Structure Analysis 14.1. Market Analysis by Tier of Companies (Rigid Packaging Market) 14.2. Market Share Analysis of Top Players 14.3. Market Presence Analysis 15. Competition Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Competition Deep Dive 15.3.1. Grief Inc. 15.3.1.1. Overview 15.3.1.2. Product Portfolio 15.3.1.3. Profitability by Market Segments (Product/Channel/Region) 15.3.1.4. Sales Footprint 15.3.1.5. Strategy Overview 15.3.2. Unipac Embalagens Ltda. 15.3.2.1. Overview 15.3.2.2. Product Portfolio 15.3.2.3. Profitability by Market Segments (Product/Channel/Region) 15.3.2.4. Sales Footprint 15.3.2.5. Strategy Overview 15.3.3. Mausar Packaging Solutions 15.3.3.1. Overview 15.3.3.2. Product Portfolio 15.3.3.3. Profitability by Market Segments (Product/Channel/Region) 15.3.3.4. Sales Footprint 15.3.3.5. Strategy Overview 15.3.4. ALPLA Group 15.3.4.1. Overview 15.3.4.2. Product Portfolio 15.3.4.3. Profitability by Market Segments (Product/Channel/Region) 15.3.4.4. Sales Footprint 15.3.4.5. Strategy Overview 15.3.5. Kautex Textron GmbH & Co. KG 15.3.5.1. Overview 15.3.5.2. Product Portfolio 15.3.5.3. Profitability by Market Segments (Product/Channel/Region) 15.3.5.4. Sales Footprint 15.3.5.5. Strategy Overview 15.3.6. Berry Global Group, Inc. 15.3.6.1. Overview 15.3.6.2. Product Portfolio 15.3.6.3. Profitability by Market Segments (Product/Channel/Region) 15.3.6.4. Sales Footprint 15.3.6.5. Strategy Overview 15.3.7. Schutz Container Systems, Inc 15.3.7.1. Overview 15.3.7.2. Product Portfolio 15.3.7.3. Profitability by Market Segments (Product/Channel/Region) 15.3.7.4. Sales Footprint 15.3.7.5. Strategy Overview 15.3.8. Plásticos Novel 15.3.8.1. Overview 15.3.8.2. Product Portfolio 15.3.8.3. Profitability by Market Segments (Product/Channel/Region) 15.3.8.4. Sales Footprint 15.3.8.5. Strategy Overview 15.3.9. Schoeller Allibert 15.3.9.1. Overview 15.3.9.2. Product Portfolio 15.3.9.3. Profitability by Market Segments (Product/Channel/Region) 15.3.9.4. Sales Footprint 15.3.9.5. Strategy Overview 15.3.10. Dolav Plastic Products 15.3.10.1. Overview 15.3.10.2. Product Portfolio 15.3.10.3. Profitability by Market Segments (Product/Channel/Region) 15.3.10.4. Sales Footprint 15.3.10.5. Strategy Overview 16. Assumptions and Acronyms Use 17. Research Methodology
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Latin America Rigid Industrial Packaging Market
