The Mexico fresh food packaging market is expected to surge at a CAGR of 2.72% throughout the forecast period. The major driver of the Mexico fresh food packaging market is the increasing exports of fresh food products worldwide. According to the OEC, Mexico was the world's leading exporter of tropical fruits ($3.34 billion), other vegetables ($3.12 billion), and tomatoes ($2.62 billion) in 2021. Growing demand for protein-rich food products is another major driver of the Mexico fresh food packaging market. The country is continuously boosting domestic meat production in order to meet the increasing demand for meat products. Factors such as farm vertical integration, biosecurity investments, production chain improvements, and increased efficiency are boosting local food production in the country, which is bolstering the market growth of fresh food packaging in Mexico. The emerging popularity of the vegan diet will also drive the market growth of fresh food packaging in Mexico during the next five years. The rising focus on organic farming is also attracting people to consume fresh organically-produced food products, which will also continue to fuel the market growth of fresh food packaging in Mexico during the next five years.
The Mexico 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 Mexico fresh food packaging market has been classified into poultry and meat products, dairy products, produce (vegetables and fruits), seafood, and others. By material, the paper and paper board market is poised to grow at a substantial CAGR between 2020 and 2027. This growth is attributed to the rising fruit and vegetable exports to various countries, including the U.S. Moreover, rising online sales of the product further support the growing demand for paper and board for packaging. By application, fruits and vegetables held a significant market share in 2020 and will remain at its position till the end of the forecast period. This dominance is attributed to the high volume of products being exported to the U.S. and other countries around the globe. According to the USDA, the United States will import $3 billion in avocados globally in 2021, with Mexico accounting for $2.8 billion (92%). In terms of volume, the US imported 1.2 million metric tonnes of avocados, with Mexico accounting for 1.1 million (89%). Moreover, in 2020 and 2021, approximately 80% of the avocados exported from Michoacán went to U.S. markets. Poultry and meat products also hold a considerable market share during the forecast period.
Prominent key market players in the Mexico fresh food packaging market include Bemis Company, Inc., Mondi, Sealed Air, Sirane Group, and Smurfit Kappa Group plc. Because of their strong brand image and product offerings, these companies have a sizable market share. Major players in the Mexico 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
COVID-19 had an impact on the market. The food and beverage industry faced a major crisis as a result of the lockdown, which initially reduced demand for food service packaging. Food service packaging demand increased post-pandemic due to increased demand for packaged and prepared food products. Furthermore, changing eating habits and a growing preference for convenience food and beverage products are driving up demand for convenient packaging in the fresh food industry.
|Growth Rate||CAGR of 2.72% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Material, And Application|
|Companies Covered||Mondi, Sealed Air, Bemis Company, Inc., Sirane Group, Smurfit Kappa Group plc|
|Customization Scope||Free report customization with purchase|
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Mexico Fresh Food Packaging Market, By Material
5.3. Paper and Board
6. Mexico Fresh Food Packaging Market, By Application
6.2. Poultry and Meat Products
6.3. Dairy Products
6.4. Produce (Vegetables and Fruits)
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
8.2. Sealed Air
8.3. Bemis Company, Inc.
8.4. Sirane Group
8.5. Smurfit Kappa Group plc
Smurfit Kappa Group plc
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