The Argentina fresh food packaging market is expected to surge at a CAGR of 2.67% throughout the forecast period. The increased production of fresh fruits due to favourable weather conditions supports Argentina's rising export volume in other countries. This, in turn, is significantly driving the market growth of fresh food packaging in this country. Rising awareness among people regarding the health benefits of consuming fresh fruits and vegetables will further drive the demand for fresh food packaging in the country during the forecast period. Rising disease outbreaks in other countries, especially China, will fuel the demand for Argentine fresh food items, which, in turn, will drive the demand for fresh food packaging in Argentina during the next five years. The agreement between the Argentine Association of Pig Producers (AAPP) and the Chinese Association for the Promotion and Industrial Development (CAPID) of a US$27 billion investment deal would enable the country’s annual production of 100 million pigs in the next eight years. However, high inclination towards the consumption of processed food items is currently hindering the market growth of fresh food packaging in Argentina to some extent.
The Argentina Fresh Food Packaging market has been segmented on the basis of material and application. By material, the market has been segmented as plastic, paper and board, glass, and metal. By application, the Argentina fresh food packaging market has been classified into poultry and meat products, dairy products, produce (vegetables and fruits), seafood, and others. By material, plastic accounted for a significant market share in 2020 and will grow at a decent CAGR during the forecast period. By application, the produce (fruits and vegetables) packaging market holds a noteworthy market share owing to the rising country’s export volume of the produce. The seafood packaging market will experience a decent CAGR between 2020 and 2027 owing to the rising seafood production supported by favourable trade agreements with other countries. According to the OECD, Argentina produced 0.8 million tonnes of fish (including molluscs and crustaceans) in 2018, valued at USD 2834.6 million. Aquaculture contributed 1% of this value, while fisheries contributed 95%. (That is, the capture of wild resources). Between 2008 and 2018, the quantity produced decreased by 17% while the value increased by 59%. Furthermore, Argentina is a net exporter of fish and fish products. Between 2008 and 2018, exports increased by 55%, while imports increased by 111%.
Competitive Insights
Prominent key market players in the Argentina fresh food packaging market include Klöckner Pentaplast, Sealed Air, Bemis Company, Inc., Mondi, and Smurfit Kappa Group plc. Because of their strong brand image and product offerings, these companies command a sizable market share. Major players in the Argentina fresh food packaging market have been covered along with their relative competitive positions and strategies. The report also discusses recent deals and investments made by various market participants over the last two years.
Recent development and expansions
Amcor launched fresh milk in Argentina's first post-consumer recycled PET bottles in March 2021. The first fresh milk bottle made with 20% transparent post-consumer recycled (PCR) polyethylene terephthalate (PET) resin, which was recently launched in Argentina, is one of their most recent innovations. The 1 litre custom-designed container supports Mastellone's La Serensima Original milk brand's natural positioning while also providing optimum shelf life and increased sustainability benefits.
Danone collaborated with Amcor to design a new yoghurt jar in January 2019. The Latin American yoghurt market is expanding as companies develop products to appeal to health-conscious consumers. Premium-looking packaging that is durable and increasingly sustainable is part of that appeal.