South America fresh food packaging market is expected to surge at a CAGR of 3.46% throughout the forecast period. The rising number of people suffering from chronic diseases is encouraging people in South American countries to opt for a healthier lifestyle with better dietary patterns. According to the World Health Organization (WHO), the prevalence of diabetes has increased steadily since 1980, with 7.4% of males and 8.8% of females suffering from diabetes in Brazil. This shift towards a better lifestyle is being supported by government measures so as to increase the uptake of fresh food products in South American countries. For example, the Brazilian Ministry of Health banned the advertisement and sales promotion of ultra-processed food products in the country. Hence, these factors are significantly fuelling the demand for fresh food products which, in turn, is driving the market growth of fresh food packaging in the region. Growing export of fresh food items including poultry and fruits from Brazil and Argentina around the world is another major driver of the South America fresh food packaging market. Favorable government policies and initiatives to increase the domestic production of fresh food items will further continue to bolster the market growth of fresh food packaging in South America during the next five years. Also, trade agreements between South American countries and other countries across the globe will also propel the market growth of fresh food packaging in South America during the forecast period. For example, Argentina and Russia signed a trade agreement in November 2018, making exports from Argentina easier while increasing the fish volume traded between the two countries.
The South America Fresh Food Packaging market has been segmented on the basis of the material, application, and geography. By material, the market has been segmented as plastic, paper and board, glass, and metal. By application, South America fresh food packaging market has been classified into poultry and meat products, dairy products, produce (vegetables and fruits), seafood, and others. By country, the South America fresh food packaging market has been segmented into Brazil, Argentina, and Others. By material, the plastic market will witness slow growth during the forecast period owing to the growing concerns regarding the harmful impact of plastic waste on the environment. Paper and board is projected to witness a significant CAGR during the forecast period owing to the rising demand for fresh fruits and vegetables, both local and international. By application, produce (vegetables and fruits) accounted for the largest market share in 2019 and will remain at its position till the end of 2025. This dominance is majorly attributed to the rising export volume of fruits and vegetables from Brazil and Argentina to other countries. Growing adoption of a protein-rich diet across South American countries is driving the demand for poultry and meat products which, in turn, is spurring the market growth of fresh food packaging across this application segment. Increasing investments in the aquaculture industry in South American countries owing to the rising export of seafood items in European countries contribute to the market growth across the seafood industry. By country, Brazil dominates the South America fresh food packaging market throughout the forecast period owing to the growing focus by the Brazilian government to shift the trend from consumption of fast and processed food to that of fresh food products. The high volume of fresh food items exported to other regions/countries also supports the dominance of the Brazilian fresh food packaging market in South America.
Prominent key market players in the South America fresh food packaging market include Mondi, Sealed Air, Amcor Plc, Smurfit Kappa Group plc, and Sonoco Products Company. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the South America fresh food packaging market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Smurfit Kappa Group plc
Sonoco Products Company
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