Mexican Processed Meat & Processed Cheese Flexible Packaging Market Overview
Flexible packaging is done with easily yielding materials such as bags, envelopes, wraps, and sachets, which when filled and sealed, acquires a flexible shape. Flexible packaging offers convenience to the user by making transportation of products easier. As flexible packaging offers high performance, less contamination, and lightweight properties, it finds different applications in meat processing, cheese processing, and so on. According to the Packaging Machinery Manufacturers Institute (PMMI), Mexico is the second largest importer of equipment in the packaging industry. In Mexico, food processing companies such as Tyson, Bachoco, Driscolls, and Sunny Ridge are making huge investments in the innovation of product-specific packaging. The Mexican processed meat & processed cheese flexible packaging market is estimated to grow at a CAGR of 5.2% in terms of revenue during the forecast period 2018-2023. Online retailers is estimated to be the fastest growing end user segment during the forecast period with a CAGR of 7.3% and 6.8% in terms of revenue and volume respectively.
Mexican Processed Meat & Processed Cheese Flexible Packaging Market Outlook
Flexible Packaging is used for the packaging of processed meat and processed cheese. Processed meat is considered to be any meat that has been altered keeping in mind the end goal of either enhancing its taste or extending its shelf time. The different methods of meat processing include salting, curing, fermentation, and smoking. Processed cheese is defined as a mass-produced product made of one or more types of cheeses that have been heated and mixed with emulsifiers, colorings, and flavorings, primarily to retard spoilage and enhance the spread ability. According to IndustryARC findings, vacuum packages are majorly used in packaging of processed meat and cheese followed by standup zipper pouches in Mexico. The Mexican processed meat & cheese flexible packaging market report comprises financial analysis of top five companies operational in Mexico. Amcor Limited and Smurfit Kappa Group are analyzed to be the dominant players in Mexico, each capturing 7% of the overall market share.
Mexican Processed Meat & Processed Cheese Flexible Packaging Market Growth Drivers
In Mexico, the increase in consumption of meat, seafood, and cheese coupled with the rapid urbanization has triggered the processed meat & processed cheese flexible packaging market. With rapid urbanization, the need to increase the shelf life of meat and cheese has also increased. Growing end user demand for light-weight, convenient, durable, tamper-proof, and aesthetic packaging for processed meat and cheese is propelling the country’s flexible packaging market. Flexible packaging is preferred over other forms of packaging as it uses less energy and resources. Growing e-commerce owing to increased Internet penetration is also driving the flexible packaging market for processed cheese & processed meat in Mexico.
Mexican Processed Meat & Processed Cheese Flexible Packaging Market Challenges
The major challenge faced by the processed meat & cheese flexible packaging market in Mexico is with regard to the recyclability and sustainability of flexible packaging materials. Thus, the companies need to design materials that address environmental issues and reduce greenhouse gas emission and water footprints. However, the potential benefits of flexible packaging over its counterparts is likely to oust this limitation in the near future.
Mexican Processed Meat & Processed Cheese Flexible Packaging Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on volume shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Mexican processed meat & processed cheese flexible packaging market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of flexible packaging, types of materials, and their specific applications.
Mexican Processed Meat & Processed Cheese Flexible Packaging Market Report: Industry Coverage
Types of Mexican Processed Meat & Processed Cheese Flexible Packaging: Vacuum pouches, Stand-up/stand-up zipper pouches, Wicketed bags.
Mexican Processed Meat & Processed Cheese Flexible Packaging by type of packaging materials: Paper aluminum, Foil BOPP, Film Polythene, Foil Polyethylene, Polyethylene terephthalate, others.
End users of Mexican processed meat & processed cheese flexible packaging: Meat processing organizations, Bricks and mortar retailers, online retailers, Dairy management organizations.
Mexican Processed Meat & Processed Cheese Flexible Packaging Market Key Players Perspective
Amcor’s CEO, Ron Delia, in a press release of August, 2018 said “The strategic rationale for this combination and the financial benefits are highly compelling for both Amcor and Bemis shareholders. We are convinced this is the right deal at the right time for both companies, and with the right structure for both sets of shareholders to participate in a unique value creation opportunity. Amcor identified flexible packaging in the Americas as a key growth priority and this transaction delivers a step change in that region.” This acquisition is likely to create a global leader in consumer packaging business by enabling wide distribution of Amcor’s sustainable products through the distribution network of Bemis across North America.
Some of the other key players mentioned in this report are Amcor Limited, Bemis Company Inc., Berry Plastics Corporation, Coveris Group, and Emsur.
Mexican Processed Meat & Processed Cheese Flexible Packaging Market Trends
- Acquisition is the major strategic development activity followed by most of the top players in the Mexican processed meat & processed cheese flexible packaging market.
- Amcor Limited, a key player in the processed meat & processed cheese flexible packaging market has combined with another key player Bemis Company, Inc. to expand sales of flexible packaging in North America in deal worth $6.8 billion.