Peru: Plastic Bag Market 2024

Plastic Bag Market Size in Peru

The Peruvian plastic bag market declined to $X in 2022, shrinking by -5.2% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Plastic Bag Production in Peru

In value terms, plastic bag production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 24% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Plastic Bag Exports

Exports from Peru

In 2022, shipments abroad of plastic sacks and bags decreased by -30.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 83% against the previous year. The exports peaked at X tons in 2021, and then reduced sharply in the following year.

In value terms, plastic bag exports fell markedly to $X in 2022. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 47% against the previous year. As a result, the exports attained the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Chile (X tons) was the main destination for plastic bag exports from Peru, accounting for a 46% share of total exports. Moreover, plastic bag exports to Chile exceeded the volume sent to the second major destination, Bolivia (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Chile amounted to +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+17.2% per year) and the United States (+23.9% per year).

In value terms, Chile ($X) remains the key foreign market for plastic sacks and bags exports from Peru, comprising 31% of total exports. The second position in the ranking was taken by Bolivia ($X), with a 15% share of total exports. It was followed by Ecuador, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Chile stood at +32.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+16.8% per year) and Ecuador (+25.8% per year).

Export Prices by Country

In 2022, the average plastic bag export price amounted to $X per ton, jumping by 21% against the previous year. In general, the export price, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 when the average export price increased by 24%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Peru

In 2022, supplies from abroad of plastic sacks and bags decreased by -3.1% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 41% against the previous year. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, plastic bag imports contracted slightly to $X in 2022. Over the period under review, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. Imports peaked at $X in 2021, and then shrank modestly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plastic bag supplier to Peru, accounting for a 51% share of total imports. Moreover, plastic bag imports from China exceeded the figures recorded by the second-largest supplier, Chile (X tons), twofold. India (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+12.9% per year) and India (+20.9% per year).

In value terms, China ($X), Chile ($X) and the United States ($X) were the largest plastic bag suppliers to Peru, together accounting for 74% of total imports. Israel, Colombia, India, Ecuador and Spain lagged somewhat behind, together comprising a further 13%.

In terms of the main suppliers, Spain, with a CAGR of +20.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average plastic bag import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 20% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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