The South & Central America EVOH Resins Market is expected to grow from US$ 24.44 million in 2022 to US$ 29.57 million by 2028. It is estimated to grow at a CAGR of 3.2% from 2022 to 2028.
For instance, certain Brazilian states have passed municipal regulations prohibiting the distribution of plastic bags in supermarkets to limit plastic waste. In 2019, a regulation was passed in Rio de Janeiro to replace plastic bags generated from oil in supermarkets with bags made from renewable materials. Moreover, the Chilean government passed new legislation in May 2021 to eliminate all single-use goods in the food and beverage industry, including plastics, within three years. It is the first national-level legislation in the world to prohibit single-use F&B goods made of plastic, cardboard, and other materials, rather than only single-use plastics. Further, consumers are increasingly inclined toward green, low-carbon products to eliminate waste pollution. EVOH packaging is environmentally friendly because it has a low carbon footprint and can be easily recycled. Unlike plastic and paper containers, it does not produce waste and does not need wood cutting for raw materials. These benefits increase the demand for EVOH resins for eco-friendly food packaging, which propels the market growth.
The extensive barrier and antistatic properties of EVOH resins is also driving the market, market participants in the EVOH packaging films market are driving demand for raw materials with highly specialized properties due to growing industrial and consumer applications of barrier packaging materials. Due to this, many businesses are concentrating on making strategic decisions in order to capture a competitive market share. The demand for long-lasting EVOH packaging films that maintain the food product quality for extended periods of time by serving as a barrier to various gases and dust particles present in the atmosphere is expected to rise due to these properties.
Population growth and demand for food away from home are fueling the packaged foods sector. The demand for packaged foods will rise as the working-class population grows, spurring growth in the regional food packaging industry directing to increase in consumption of EVOH, hence driving the EVOH films market forward.
South & Central America EVOH Resins Market Revenue and Forecast to 2028 (US$ ‘000)
Based on application, the South & Central America EVOH resins market is segmented into films, tray, bottles, and bag-in-box and others. The films segment held the largest share of the South & Central America EVOH resins market in 2022.
Based on end use, the South & Central America EVOH resins market is segmented into bakery and confectionery, beverages, sauces and dressings, meat poultry and seafood, RTE foods and meals, and others. the meat poultry and seafood segment held the largest share of the South & Central America EVOH resins market in 2022.
Based on country, the South & Central America EVOH resins market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America EVOH resins market in 2022.
Solvay SA, Arkema, SK Functional Polymer SAS, and Kuraray Europe GmbH are some of the leading companies operating in the South & Central America EVOH resins market.
Rules and Regulations Regarding Use of Sustainable Eco-Friendly Packaging Fuel South & Central America EVOH Resins Market
Growing consumer awareness regarding the environmental concerns and strict government regulations related to the toxic packaging fuel the demand for EVOH resins in the food sector. To reduce the environment contamination, manufacturers are adopting eco-friendly packaging solutions, which, in turn, boosts the sales of eco-friendly materials.For instance, certain Brazilian states have passed municipal regulations prohibiting the distribution of plastic bags in supermarkets to limit plastic waste. In 2019, a regulation was passed in Rio de Janeiro to replace plastic bags generated from oil in supermarkets with bags made from renewable materials. Moreover, the Chilean government passed new legislation in May 2021 to eliminate all single-use goods in the food and beverage industry, including plastics, within three years. It is the first national-level legislation in the world to prohibit single-use F&B goods made of plastic, cardboard, and other materials, rather than only single-use plastics. Further, consumers are increasingly inclined toward green, low-carbon products to eliminate waste pollution. EVOH packaging is environmentally friendly because it has a low carbon footprint and can be easily recycled. Unlike plastic and paper containers, it does not produce waste and does not need wood cutting for raw materials. These benefits increase the demand for EVOH resins for eco-friendly food packaging, which propels the market growth.
South & Central America EVOH Resins Market Overview
The key countries in South and Central America are Brazil and Argentina. The packaged foods market is mainly driven in this region because of the growing food and beverages sector. The Supermarkets and Hypermarkets have emphasized food products quality and price competitiveness, and they are considered as the most prominent channels for packaged foods, and therefore the market of packaged foods is expected to increase over the forecast period. These factors might increase the usage of EVOH resins for the food packaging, driving the demand for EVOH resins in the region.The extensive barrier and antistatic properties of EVOH resins is also driving the market, market participants in the EVOH packaging films market are driving demand for raw materials with highly specialized properties due to growing industrial and consumer applications of barrier packaging materials. Due to this, many businesses are concentrating on making strategic decisions in order to capture a competitive market share. The demand for long-lasting EVOH packaging films that maintain the food product quality for extended periods of time by serving as a barrier to various gases and dust particles present in the atmosphere is expected to rise due to these properties.
Population growth and demand for food away from home are fueling the packaged foods sector. The demand for packaged foods will rise as the working-class population grows, spurring growth in the regional food packaging industry directing to increase in consumption of EVOH, hence driving the EVOH films market forward.
South & Central America EVOH Resins Market Revenue and Forecast to 2028 (US$ ‘000)
South & Central America EVOH Resins Market Segmentation
The South & Central America EVOH resins market is segmented into application, end use, and Country.Based on application, the South & Central America EVOH resins market is segmented into films, tray, bottles, and bag-in-box and others. The films segment held the largest share of the South & Central America EVOH resins market in 2022.
Based on end use, the South & Central America EVOH resins market is segmented into bakery and confectionery, beverages, sauces and dressings, meat poultry and seafood, RTE foods and meals, and others. the meat poultry and seafood segment held the largest share of the South & Central America EVOH resins market in 2022.
Based on country, the South & Central America EVOH resins market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America EVOH resins market in 2022.
Solvay SA, Arkema, SK Functional Polymer SAS, and Kuraray Europe GmbH are some of the leading companies operating in the South & Central America EVOH resins market.
Table of Contents
1. Introduction
3. Research Methodology
4. South & Central America EVOH Resins Market for Food Application Landscape
5. South & Central America EVOH Resins Market for Food Application - Key Market Dynamics
6. EVOH Resins Market for Food Application - South & Central America Market Analysis
7. South & Central America EVOH Resins Market for Food Application Analysis - By Application
8. EVOH Resins Market for Food Application Analysis - End Use
9. EVOH Resins Market for Food Application - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Executive Summary
At 3.2% CAGR, the South & Central America EVOH Resins Market is speculated to be worth US$ 29.57 million by 2028.According to this research, the South & Central America EVOH Resins Market was valued at US$ 24.44 million in 2022 and is expected to reach US$ 29.57 million by 2030, registering a CAGR of 3.2% from 2022 to 2028. Increasing application in food packaging sector and rules and regulations regarding use of sustainable eco-friendly packaging are the critical factors attributed to the South & Central America EVOH resins market.
EVOH resins are specially used as a barrier in packaging, such as films, trays, and bottles, via co-extrusion process to protect meals from oxygen, which can create moisture in packed food. The increasing population and rising per capita disposable income of consumers propel the demand for packed food. Changing lifestyle of consumers and increasing consumption of bread, sausages, and other snacks drive the demand for EVOH resins in the food packaging sector. Growing demand for packaging offering high barrier properties and surging requirement to increase shelf life and consumer safety are among the factors boosting the need for EVOH resins in the sector.
Rising awareness regarding consumable hygiene and clean room packaging increase the EVOH application in the food packaging industry. Manufacturers are taking additional precautions to preserve the quality and shelf life of foods using technology-based packaging. Interactive food packaging is gaining popularity among health-conscious consumers. EVOH packaging offers value added solutions. Also, it is a cost-effective packaging solution that helps maintain the quality of food products in the supply chain in all environmental conditions. EVOH packaging also helps in inclusion of antimicrobial, antioxidants, and moisture absorbers in packaging, which delays ripening of food products and prolongs shelf life by reducing microbial growth. Further, with the increasing awareness about environmental pollution and global warming, consumers are preferring to use eco-friendly food packaging, which propels the demand for EVOH resins in the food packaging sector.
On the contrary, availability of low-cost substitutes hampers the South & Central America EVOH resins market.
Based on application, the South & Central America EVOH resins market is segmented into films, trays, bottles, and bag-in-box and others. The films segment held 60.8% share of South & Central America EVOH resins market in 2022, amassing US$ 14.86 million. It is projected to garner US$ 18.22 million by 2028 to expand at 3.5% CAGR during 2022-2028.
Based on End Use, the South & Central America EVOH resins market is segmented into bakery and confectionery, beverages, sauces and dressings, meat poultry and seafood, RTE foods and meals, and others. The meat poultry and seafood segment held 39.8% share of South & Central America EVOH resins market in 2022, amassing US$ 9.72 million. It is projected to garner US$ 11.85 million by 2028 to expand at 3.4% CAGR during 2022-2028.
Based on country, the South & Central America EVOH resins market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Brazil captured 48.5% share of South & Central America EVOH resins market in 2022. It was assessed at US$ 1.59 million in 2022 and is likely to hit US$ 1.90 million by 2028, exhibiting a CAGR of 2.6% during 2022-2028.
Key players operating the South & Central America EVOH resins market are Solvay S.A, Arkema, SK Functional Polymer SAS, and Kuraray Europe GmbH among others.
Companies Mentioned
- Kuraray Europe GmbH
- SK Functional Polymer SAS
- Arkema
- Solvay SA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | November 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 24.44 Million |
| Forecasted Market Value by 2028 | 29.57 Million |
| Compound Annual Growth Rate | 3.2% |
| No. of Companies Mentioned | 4 |
