Argentina Flexible Packaging Market - Forecasts from 2023 to 2028

Argentina flexible packaging market is projected to witness a compounded annual growth rate of 4.80% to grow to US$2,505.450 million by 2028, from US$1,804.290 million in 2021.

Flexible packaging is a non-rigid technology that uses flexible materials, including aluminum, plastic, and paper. To make flexible packaging items such as plastic bags and pouches, foil bags, lid films, and sachets, these materials go through several processes, like printing, coating, laminating, and extrusion. Rising disposable income, growing middle-income groups, and increasing purchasing power are expected to drive market growth during the forecast period. Increasing consumer and manufacturer awareness of plastic waste pollution is expected to reduce the use of plastic packaging materials throughout the forecast period, hurting the industry's overall growth. Moreover, the surging consumer market across the country is anticipated to significantly support the growth of the food industry in the country, which is expected to augment the demand for flexible packaging solutions over the forecast period. Consumers are very specific about the health aspects of packaged food products such as meat and vegetables, cereal and flour, sugar, dairy, and others.

Argentina has a serious waste problem, with over 5,000 dump sites and haphazard final disposal sites spread across the country. According to figures from recyclers ' associations, it produces 50,000 tons of garbage each day. Half of it is inside one of the country's 5,000 dumps or sanitary landfills. Hence, people in Buenos Aires protested in December 2021 to demand the passage of the Packaging with Social Inclusion Law. The Packaging Law strives to achieve a socially and environmentally sustainable packaging management system in which the manufacturer's duty for the goods extends from consumption to the point of final disposal. Hence, businesses are encouraged to produce environmentally friendly and fair products for workers. This is expected to boost the flexible packaging market in Argentina.

Further, Argentine consumers are known for being rational and thrifty with their money, prioritizing price over quantity. Consumers have also become selective and more hesitant about new items. As a result, the market for flexible packaging is projected to create immense opportunities for the key players operating in the sector. Argentina's personal care industry offers environmentally responsible packaging with advantages such as tiny packaging, low cost, and environmentally friendly materials. Catering to low-income groups, numerous companies introduced low-cost plastic pouches as an alternative to traditional packaging.

Within the country, there are strict government rules for environmental safety. Additionally, the ongoing trend of consumers frequently purchasing from online channels, owing to time-pressed schedules and the availability of different cuisines online, has led to the popularity of packaged food products, projected to drive market growth in the coming years. Companies have realized that packaging must respond to changing market trends and consumers' growing desire for more sustainable packaging.

Market Developments:

• In March 2021, Amcor, in collaboration with Mastellone Hnos. SA introduced Argentina's first fresh milk bottle with 20% transparent PCR PET resin. The LATAM team at Amcor Rigid Packaging collaborated with the brand to launch shelf-stable, white-colored PET bottles in October 2019.
• Amcor debuted recyclable plastic packaging for powdered chocolate in Argentina in May 2021. This packaging is more environmentally friendly than the old packaging. When using this novel method, recycling the package lowers its water use by 84% and carbon footprint by 53%.

Market Segmentation:

BY PACKAGING MATERIAL

• Paper
• Aluminum Foil
• BOPP Film
• Polyethylene
• PET
• Others

BY APPLICATION

• Food Packaging
• Processed food products
• Bakery Products
• Pet Food Products
• Fruits & Vegetables
• Others
• Beverage Packaging
• Bottles
• Pouches
• Others
• Cosmetics & Toiletries
• Pharmaceutical & Healthcare
• Others