At 3.5% CAGR, the South & Central America Chilled Food Packaging Market is projected to be worth US$ 944.16 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America chilled food packaging market was valued at US$ 741.35 million in 2023 and is expected to reach US$ 944.16 million by 2030, registering a CAGR of 3.5% from 2023 to 2030.  Increasing focus on sustainability and eco-friendly packaging are the critical factors attributed to the South & Central America chilled food packaging market.

The food and food safety industries are subjected to numerous developments in safe packaging technologies. The constant population growth, the surge in disposable income, and an increase in the working population are creating a need for more packaged and ready-to-cook foods.

The companies in the chilled food packaging sector continuously focus on new trends and enhancements in food packaging, which greatly improve food quality and safety. Various innovations, such as advances in design and packaging materials, are expected to support the food processing industry. Also, the emergence of smart and intelligent packaging techniques is expected to support the growth of the food processing industry. The intelligent packaging system consists of sensors, RFID tags, smart indicators (freshness, oxygen, carbon dioxide, leakage, color, and pathogen), pigments & ink, and barcodes/QR codes. Smart packaging is evolving, and its market is expected to grow exponentially with technological developments in printed electronics and IoT to facilitate communication between end users.

There are emerging technologies in the field of nanotechnology and biosensors in the food industry, which are severely impacting food processing, production, packaging, transportation, and bioavailability of food nutrients. In the food industry, nanotechnology and biosensors increase flavor, extend product shelf-life, improve product safety, and inhibit bacterial growth and chemical reaction. Several companies are also developing nanomaterials and biosensors, which will impact food taste, related health benefits, and overall food safety. Thus, developing smart and intelligent food packaging materials is expected to benefit industry players operating in the South & Central America chilled food packaging market.

On the contrary, stringent government regulations hampers the South & Central America chilled food packaging market.  

Based on material, the South & Central America chilled food packaging market is segmented into plastics, aluminum, paper and paperboard, and others. The plastic segment held 67.5% share of South & Central America chilled food packaging market in 2023, amassing US$  500.64 million. It is projected to garner US$ 635.63 million by 2030 to expand at 3.5% CAGR during 2023–2030.

Based on type, the South & Central America chilled food packaging market is segmented into boxes, tubs and cups, cans, pouches and bags, and others. The pouches and bags segment held 32.0% share of South & Central America chilled food packaging market in 2023, amassing US$  237.06 million. It is projected to garner US$ 324.31 million by 2030 to expand at 4.6% CAGR during 2023–2030.

Based on application, the South & Central America chilled food packaging market is segmented into dairy products, meat and poultry, seafood, fruits and vegetables, and others. The meat and poultry segment held 31.0% share of South & Central America chilled food packaging market in 2023, amassing US$ 229.79 million. It is projected to garner US$ 314.95 million by 2030 to expand at 4.6% CAGR during 2023–2030.

Based on country, the South & Central America chilled food packaging market has been categorized into the Argentina, Brazil, and the Rest of South & Central America. Our regional analysis states that the Brazil captured 59.1% share of South & Central America chilled food packaging market in 2023. It was assessed at US$ 438.30 million in 2023 and is likely to hit US$ 576.10 million by 2030, exhibiting a CAGR of 4.0% during the forecast period.      

Key players operating in the South & Central America chilled food packaging market are Mondi Plc, Amcor Plc, Sonoco Products Co, Berry Global Group Inc, WestRock Co, Graphic Packaging Holding Co, Tetra Pak International SA, and Sealed Air Corp, among others.

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