(MENAFN- America News Hour) The packaging industry in Brazil market is expected to grow at a CAGR of 3.2%, during the forecast period (2023-2033). The packaging sector provides opportunities for the application of new technologies as well as new types of materials that can improve the product's lifespan.
– High growth rates across the region are expected by the rising personal incomes, resulting in higher demand for a broad product range, which in turn creates growth for the packaging producers of these respective products.
– Advantages of paper packaging such as lightweight, biodegradable and recyclable along with a versatile and cost-efficient method to protect, preserve and transport a wide array of products are making them an essential component in fueling the growth of packaging industries across the region.
– Factors such as frequently changing social security reform that allow for greater growth, elections, political uncertainties, international geopolitics, can influence negatively which will impact the overall economy, thereby reducing the projected growth.
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Scope of the Report
The packaging technology is evolving rapidly thereby focusing on the designed ranging from sturdy and lightweight to rigid and tough, besides being customizable to meet customer or product-specific needs. Every product, from electronics to food, beverage, and cosmetics are finding the packing application. Corrugated container boxes are used to ship and transport electronics, fragile glassware, perishable goods, across the region. Majorly paperboard packaging is used for food, medicine, and toiletries for handy storage and display, thereby providing a sustainable and eco-friendlier option to customers to carry their purchases home.
Key Market Trends
The food Sector is Expected to Hold a Significant Market Share
– The growing consumer market is expected to contribute strongly to the growth of the food industry in the country. With the acquisition of a few international brands by local manufacturers, their (local manufacturers) footprint has expanded in foreign nations.
– The country is one of the major exporters of exotic fruits found in the Amazon. A few companies have also come up with new techniques to export frozen fruits in various innovative packaging, thereby driving the market for packaging across the country's food sector.
– Folding cardboard cartons are used to cater to a wide range of food production across the markets such as bakery, dairy, confectionery, fruits & vegetables, meat, poultry & fish, among others, that helps in protecting the product to facilitate transportation and marketing of thousands of consumer products.
– Consumers in the country are also very specific about health aspects associated with packaged food products. Some of the major products in the food category include meat & vegetables, cereal & flour, sugar & chocolate, and dairy & fats. With the budget conscious nature of the Brazilians, coupled with the concern for health and wellness, the market for packaging is expected to find many opportunities.
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Competitive Landscape
The
packaging industry in brazil
is moderately competitive and consists of several players. With the rising demand for packaging applications along with technological advancement across the economy of Brazil, many companies are increasing their market presence thereby expanding their business footprint across the various end-user sector.
– March 2019 – WestRock Company has expanded its portfolio of automated packaging system offerings with the acquisition of Linkx Packaging Systems which is having automated packaging machinery ranging from single-order dispatch systems to fully integrated automation.
– February 2019 – Nefab Americas acquired Pacific Coast Packaging, a company which specializes in the design and manufacturing of custom wood, foam and corrugated packaging products. The acquisition will serve to both strengthen its product offering as well as boost its presence in the Southern California market.
About SDKI :
The dynamic nature of the business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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