Press Release

A USD 19.66 Billion Latin America Alcoholic Drinks Packaging Market to Witness a CAGR of Around 4.66% During 2024-30

The Latin America Alcoholic Drinks Packaging Market size was valued at around USD 19.66 billion & is anticipated to grow at a CAGR of about 4.66% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The Latin America Alcoholic Drink Packaging Market has shown considerable growth in the past, owing to the increasing number of alcohol consumers in the region. The main function of the packaging of alcoholic beverages is to prevent the product from draining and contamination during the supply & storage and to offer the product protection from sunlight, oxygen ingress, and dissolution & carbonation loss, which is essential to maintain the taste and quality of the product. Any mistake at any stage of packaging causes health-related issues & negative impact on the brand. Therefore, packaging alcoholic beverages is the utmost preference for the manufacturers to enhance their brand image & engagement with customers.

Moreover, the adult population these days is attracted to the new variants of alcoholic products which expands the consumer base and opens the doors for the growth of the alcoholic packaging industry, as the increased consumer base is likely to increase the demand for alcoholic products along with the requirement for packaging.  Additionally, the new party culture and the increasing trend of outdoor activities are also expected to boost the market in the forecast period. Furthermore, the ongoing customization in the beverages industry caters to taste preferences, lifestyle, culture, and environmental values, which drive a strong demand for customization of the product, ultimately augmenting the size & volume of the Alcoholic Drink Packaging Industry in the region.

The challenge faced by the industry is the complex environmental regulations that vary across different countries related to packaging, labeling & information. The recent trend by global organizations towards sustainable solutions, and mandatory norms is creating difficulties for the key players in the market, further states the research report, “Latin America Alcoholic Drinks Packaging Market Analysis, 2024.”

Segmentation Analysis

Beer Drink Type Holds the Largest Market Share

Based on the drink type, the market is further bifurcated into, beer, wine, rum, tequila, spirits, and others. Among all of these major types of drink beer segment holds the largest market share in the Latin America Alcoholic Drink Packaging Industry. The increasing consumption of beer by consumers in the market makes it one of the most consumed drinks in the Latin American region. The drink is considered a celebration drink among the youth, which is also a major factor for the highest share of this drink in the market. The increasing consumption of beer is also associated with the growing number of tourists visiting the Latin American region. Thus, due to the higher consumption of beer in the region, demand for Alcoholic Drinks Packaging is also high, which is driving the segmental revenue growth in the growing Regional Alcoholic Drinks Packaging Industry.

Brazil Leads the Regional Alcoholic Drinks Packaging Industry

Among all the major nations of the Latin America Alcoholic Drinks Packaging Industry, Brazil holds the largest market share and is expected to lead the market during the forecast period as well. This is mainly due to the high consumption of alcoholic drinks, especially beer. In this country and some other areas, the drink “Beer” is treated as a party drink or a celebration drink, which is ultimately increasing demand for Alcoholic Drink Packaging. Along with this, the country is considered the emerging economy of the region, and the per capita income is also high, prompting individuals towards Alcoholic Drinks.

Moreover, the presence of some well-known brands and consistent availability of alcoholic drinks products are also enticing individuals towards alcoholic drinks products. As packaging is the basic requirement for alcoholic drink products for safety and marketing purposes, thus such increasing demand for alcoholic drink products is driving revenue growth in Brazil's Alcoholic Drinks Packaging Industry.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Cristalerias de Chile, Owens-Illinois Inc., Crown Holdings Inc., Amcor plc, Ball Corporation, United Bottles & Packaging, Envases Venezolanos, Ambev., and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the countries?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the countries?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2024-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?