The Latin America, Middle East and Africa Rigid Trays Packaging Market would witness market growth of 7.7% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Rigid Trays Packaging Market, by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,434.1 Million by 2031. The Argentina market is showcasing a CAGR of 8.5% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 6.9% during (2024 - 2031).
Increased regulatory pressures also drive consumer preference for sustainable packaging. In order to mitigate plastic waste and encourage recycling, governments and regulatory entities are enacting more stringent policies. For example, the Single-Use Plastics Directive has been implemented by the European Union with the objective of minimizing the environmental impact of specific plastic products. This directive prohibits the use of single-use plastics in the presence of viable alternatives and establishes more stringent recycling objectives. Such regulations compel companies to seek sustainable packaging solutions to remain compliant, further driving the demand for recyclable and biodegradable rigid trays.
The retail sector is also responding to consumer demand for sustainable packaging. Major retailers are increasingly setting ambitious sustainability goals and working with suppliers to reduce plastic waste. For example, Walmart aims to achieve 100% recyclable, reusable, or industrially compostable packaging for its private brand packaging by 2025. Such initiatives by influential retailers ripple throughout the supply chain, encouraging manufacturers to develop and supply sustainable packaging solutions like recyclable rigid trays.
In South Africa, the growth of the e-commerce sector and the increasing emphasis on food safety drive the demand for rigid tray packaging. The e-commerce industry has seen substantial growth, necessitating durable packaging solutions to ensure the safe delivery of goods, particularly for fragile and high-value items. Moreover, the demand for rigid trays is further bolstered by the growing emphasis on food safety and hygiene, which is influenced by regulatory standards. These trays offer superior protection against contamination and damage. Therefore, the LAMEA market for rigid trays packaging is characterized by robust growth driven by diverse factors across different nations.
Free Valuable Insights: The Worldwide Rigid Trays Packaging Market is Projected to reach USD 126.7 Billion by 2031, at a CAGR of 5.2%
Based on Application, the market is segmented into Food & Beverage, Pharmaceutical, and Others. Based on Material, the market is segmented into Plastic, Paperboard, Metal, and Glass. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Application
By Material
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