Latin America and the Caribbean: Plastic Bag Market 2024

Plastic Bag Market Size in Latin America and the Caribbean

The Latin American plastic bag market shrank modestly to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Plastic Bag Production in Latin America and the Caribbean

In value terms, plastic bag production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 12%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Plastic Bag Exports

Exports in Latin America and the Caribbean

After three years of growth, overseas shipments of plastic sacks and bags decreased by -10.9% to X tons in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.8% against 2012 indices. The pace of growth was the most pronounced in 2021 when exports increased by 16%. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, plastic bag exports reached $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +33.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Mexico (X tons) represented the largest exporter of plastic sacks and bags, creating 44% of total exports. El Salvador (X tons) took the second position in the ranking, followed by Brazil (X tons), Guatemala (X tons) and the Dominican Republic (X tons). All these countries together held near 34% share of total exports. Costa Rica (X tons), Peru (X tons), Colombia (X tons), Chile (X tons), Honduras (X tons) and Ecuador (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic bag exports from Mexico stood at +6.6%. At the same time, Peru (+15.1%), Honduras (+6.8%), Brazil (+6.4%), Chile (+3.5%), El Salvador (+3.1%), Ecuador (+2.9%), Guatemala (+2.1%) and Colombia (+1.6%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +15.1% from 2012-2022. The Dominican Republic experienced a relatively flat trend pattern. By contrast, Costa Rica (-2.2%) illustrated a downward trend over the same period. Mexico (+9.2 p.p.), Peru (+2.3 p.p.) and Brazil (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Guatemala, the Dominican Republic and Costa Rica saw its share reduced by -1.6%, -3.1% and -3.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest plastic bag supplier in Latin America and the Caribbean, comprising 51% of total exports. The second position in the ranking was taken by Brazil ($X), with a 10% share of total exports. It was followed by El Salvador, with an 8.6% share.

In Mexico, plastic bag exports increased at an average annual rate of +7.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+9.4% per year) and El Salvador (+3.1% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+3.0%), while the other leaders experienced more modest paces of growth.

Plastic Bag Imports

Imports in Latin America and the Caribbean

Plastic bag imports declined slightly to X tons in 2022, therefore, remained relatively stable against the previous year's figure. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, plastic bag imports amounted to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.0% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 18%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Mexico represented the major importing country with an import of around X tons, which resulted at 42% of total imports. Chile (X tons) held the second position in the ranking, distantly followed by Costa Rica (X tons). All these countries together held approx. 19% share of total imports. Panama (X tons), Nicaragua (X tons), Guatemala (X tons), Brazil (X tons), Honduras (X tons), Peru (X tons), Colombia (X tons), Haiti (X tons), Jamaica (X tons) and El Salvador (X tons) followed a long way behind the leaders.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of plastic sacks and bags. At the same time, Panama (+27.5%), Chile (+11.5%), Peru (+9.3%), Nicaragua (+6.2%), Costa Rica (+5.5%), Haiti (+3.9%), Brazil (+3.2%), El Salvador (+1.9%), Honduras (+1.3%) and Colombia (+1.3%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +27.5% from 2012-2022. Jamaica experienced a relatively flat trend pattern. By contrast, Guatemala (-1.7%) illustrated a downward trend over the same period. Chile (+7.9 p.p.), Panama (+3.5 p.p.) and Costa Rica (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by -9.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported plastic sacks and bags in Latin America and the Caribbean, comprising 47% of total imports. The second position in the ranking was held by Chile ($X), with a 9.1% share of total imports. It was followed by Costa Rica, with a 4.8% share.

In Mexico, plastic bag imports increased at an average annual rate of +6.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+5.9% per year) and Costa Rica (+2.8% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by 7.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2015 when the import price increased by 16%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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