The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Latin America Alcoholic Drinks Packaging Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Latin America Alcoholic Drinks Packaging Industry (2024-2030):
According to the latest report, The Latin America Alcoholic Drinks Packaging Market size was valued at around USD 19.66 billion in 2023 & is estimated to grow at a CAGR of around 4.66% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the Latin America Alcoholic Drinks Packaging industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
· Historical Data: 2019-22
· Base Year: 2023
· Forecast Period: 2024-30
· CAGR (2024-2030): 4.66%
· Market Value in 2023: USD 19.66 Billion
What are the major Driver the Latin America Alcoholic Drinks Packaging industry?
Increasing Consumption of Alcoholic Drinks Driving Market Growth – New variants of alcohol are launched to fulfill the taste preferences of the increasing number of individuals consuming alcohol. Statistics show that the consumer base of alcohol is expanding year by year, which further increases the demand for alcoholic products and helps in the growth of the alcohol packaging industry in the region. The increasing disposable income of the consumers in the emerging nations of this region results in increased consumption for the existing consumers. In addition to this, the increased consumers are governed by the wider demographics of consumers, as these days a large size of young population is also rapidly attracted to the alcoholic products in most of the countries of this region, owing to the high popularity, improved quality, and enhanced tastes. For instance,
According to some facts of the National Service for the Prevention and Rehabilitation of Drug and Alcohol Consumption from the Study of Drugs in Higher Education, 2024 which is based on the data collected for August and September 2021, reported that in Chile almost 60% of the students used alcohol in last month.
The above statistics show how prevalent is the use of alcohol in Chile among the youth and adolescents, along with Chile other nations of this region have similar prevalence and increased consumption of alcohol, which is augmenting the demand for the alcohol packaging industry in the region.
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Latin America Alcoholic Drinks Packaging Market Segmentation
The Latin America Alcoholic Drinks Packaging Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Drink Type
- Beer
- Wine
- Rum
- Tequila
- Spirits
- Others
- By Packaging type
- Glass Bottles
- Plastic Bottles
- Metal Cans
- Tetra Packs
- Others
- By Country
- Brazil
- Argentina
- Colombia
- Mexico
- Peru
- Chile
- Ecuador
- Rest of Latin America
As per the regional aspect, the Latin America Alcoholic Drinks Packaging Market is expected to be dominated by Latin America by capturing the potential market share.
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Top Companies in the Latin America Alcoholic Drinks Packaging Market
Cristalerias de Chile, Owens-Illinois Inc., Crown Holdings Inc., Amcor plc, Ball Corporation, United Bottles & Packaging, Envases Venezolanos, Ambev., and others
Recent Developments by Leading Companies
2024: Owens-Illinois Inc O-I Mexico and SILICE have inaugurated the first glass recycling hub in Chihuahua, Mexico which is set to increase glass recycling in the region.
2023: For customers in Latin America looking for a high-barrier, recyclable paper-based packaging solution, Amcor, a world leader in the development and production of responsible packaging solutions, introduced its AmFiberTM Performance Paper packaging.
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