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Country Report

Packaging in

Packaging Industry in Colombia

22 pages, Sep 2016

US$2,100

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Packaging proves resilient to economic deceleration

In the second semester of 2015, the Colombian economy entered a phase of slow economic growth, as a consequence of the end of the commodity price super-cycle, especially for oil, in international markets. Nevertheless, packaging proved resilient to economic deceleration with a good performance in the first half of the year. Moreover, industries using packaging cater to consumers’ basic needs, which maintained demand. Company strategies like discount prices and promoting smaller pack sizes, which are more immediately affordable for consumers, helped to sustain a good performance in the context of slower economic growth.

Functionality gains importance via closures

Functionality gained importance due to a stronger competitive environment and consumers’ higher expectations. Functionality in packaging was enhanced by the strong expansion of zip/press closures, which allow a product to be consumed at intervals, rather than in one go. This trend was visible in packaged food, for instance with regard to processed meat. Industrias de Alimentos Zenú promoted these closures for its Zenú, Rica and Pietrán ham brands. Moreover, Cía Nacional de Chocolates, launched a new package, “Corona resellable”, for its well-positioned Corona brand of powdered hot chocolate in February 2015. Functionality was also visible in non-alcoholic drinks through innovation in closures, especially the use of plastic screws on individual carton boxes (liquid cartons) for RTD tea and juices. This closure type allows the consumer to drink the contents directly from the packaging, thereby removing the need for a straw.

Smaller families, hectic lifestyles and millennials boost individual pack sizes

Individual pack sizes gained importance due to demographic factors (smaller family sizes and the rise of millennials) and hectic lifestyles. Smaller family sizes and more millennials becoming financially independent and living alone, the demand for individual size products increased. In addition, hectic lifestyles force consumers to spend most of their time outside the home, which increased the demand for portable products. This was the case for beauty and personal care products that can be carried in women’s handbags and individual sizes soft drinks.

Higher demand for PET in non-alcoholic drinks and carton boxes in milk

A stronger competitive environment and consumers’ higher expectations led to the increased use of PET in non-alcoholic drinks and carton boxes in milk. In important categories like bottled water and carbonates a significant share of products used to be packaged in plastic pouches and glass bottles, respectively. However, plastic pouches are considered less convenient than PET bottles while glass-bottled carbonates are returnable, which demands consumers return products to stores. In the case of milk, plastic pouches remained an important pack type, but higher expectations increased the consumer demand for liquid cartons.

Smaller pack sizes and refills gain importance

Smaller packages and refills gained importance during 2015, as a consequence of economic deceleration. The former require a lower initial outlay, which attracted middle-to-low-income consumers to traditional grocery retailers. This benefited sales of pet food, for example. Meanwhile, the growing demand for refills was fuelled by consumers looking for value for money in, for example, home care, especially for more basic items like automatic detergents, dishwashing, fabric softeners and some surface care products.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Packaging industry in Colombia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Packaging industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Packaging in Colombia market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes data
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the retail unit volume of the packaging market in Colombia?
What are the major pack types and how are they performing in Colombia?
Have there been any packaging legislative changes over the past 12 months?
How has the packaging industry been affected by the recession?
How are consumption trends impacting the packaging landscape?
What have been the key trends seen in new packaging developments?
How important is sustainability in packaging to consumers in Colombia?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Packaging market research database.

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