Report : South America Flexible Packaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material (Plastics, Paper, Aluminum Foils, and Others), Product Type (Pouches, Bags, Films and Wraps, and Others), and Application (Food and Beverages, Medical and Pharmaceutical, Personal Care and Cosmetic, Industrial, and Others)
At 3.4% CAGR, the SAM Flexible Packaging Market is speculated to be worth US$ 13,259.10 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM flexible packaging market was valued at US$ 10,474.62 million in 2021 and is expected to reach US$ 13,259.10 million by 2028, registering an annual growth rate of 3.4% from 2021 to 2028. Growing retail sector through e-commerce in developing countries and flexible packaging applications are the critical factors attributed to the market expansion.
In a nutshell, e-commerce effectively erases the huge investments or outlays on physical infrastructure to develop a regional presence, which has led to a revolution in the way business is conducted across the region. Developing countries present solutions to many prevalent problems, such as providing remote healthcare & education, food & beverages, personal care & cosmetics, and industrial. Moreover, the immense potential that e-commerce is acting as a powerful tool in reducing the gap and giving developing countries the chance to achieve economic equality. The growing telecommunications infrastructure the rise in demand for food & beverages products among the consumers ensure that developing countries have become strong contenders in the regional e-commerce sector. Hence, the retail sector is growing through e-commerce and simultaneously witnessed lucrative growth for the flexible packaging market in emerging economies.
On the contrary, fluctuating raw material prices hurdles the growth of SAM flexible packaging market.
Based on material, the SAM flexible packaging market is segmented into plastics, paper, aluminum foils, and others. The plastics segment held 61.6% market share in 2021, amassing US$ 6,448.02 million. It is projected to garner US$ 8,172.29 million by 2028 to expand at 3.4% CAGR during 2021–2028.
Based on product type, the SAM flexible packaging market is segmented into pouches, bags, films and wraps, and others. The bags segment held 39.4% market share in 2021, amassing US$ 4,124.14 million. It is projected to garner US$ 5,404.19 million by 2028 to expand at 3.9% CAGR during 2021–2028.
Based on application, the SAM flexible packaging market is segmented into food and beverages, medical and pharmaceutical, personal care and cosmetic, industrial, and others. The food and beverages segment held 68.7% market share in 2021, amassing US$ 7,194.47 million. It is projected to garner US$ 9,352.95 million by 2028 to expand at 3.8% CAGR during 2021–2028.
Based on country, the SAM flexible packaging market has been categorised into Brazil, Argentina, and rest of SAM. Our regional analysis states that Brazil captured 48.8% market share in 2021. It was assessed at US$ 5,106.75 million in 2021 and is likely to hit US$ 6,703.87 million by 2028, exhibiting a CAGR of 4.0% during the forecast period.
Key players dominating the SAM flexible packaging market are Amcor plc, Berry Global Inc., Flexpak services, Huhtamaki, Mondi, Sealed Air, Sonoco Products Company, and Transcontinental Inc. among others.
- In Sep 2020, Mondi has recently developed and innovated into B2B business where they had a successful loyalty program into Color Copy Club.
- In Sep 2020, Sealed packaging launches the vacuum skin packaging which is highly effective and has efficient packaging film with excellent optical properties. It is highly formable top film with your choice of the bottom carrier in an assortment of sizes and substrate options to customize your offering.