Advancing Technology to Encourage Metal Packaging Market Share

Summary

Metal Packaging Market Share, Segments, 3.36% CAGR, Trends, Future Scope |  Global Metal Packaging Industry information By Material (Steel, and Aluminum), Product (Cans, Drums & Barrels, Caps & Closures, and Others), Application (Food, Beverages, Pharmaceuticals, Personal Care, and Others), and By Region - Forecast 2022

Metal Packaging Market Overview

The metal packaging market is anticipated to surpass a valuation of USD 150.69 billion, attaining a CAGR of 3.36% during the forecast period (2019-2025), Market Research Future (MRFR) reveals in a detailed report. Metal packaging can be referred to as the process of protecting products by using packaging materials like steel and aluminum for its storage, distribution, and sale. This kind of packaging is used across industries like healthcare, food & beverage, personal care, chemicals, and others.

The metal packaging market has witnessed a tectonic surge over the past few years, mainly due to the soaring demand from the food & beverage industry. The increasing prevalence of nuclear families, working population, and scarcity of time has propelled the demand for canned food items, which further drives the growth of the metal packaging market across the globe. Advancements made in the packaging technology, which assists in offering metal cans with enhanced storage and functional features, is propelling the market growth in the beverages end-user sector. Surging health awareness among consumers and nutrition retaining properties of metal packaging are some of the major factors contributing to the market growth.

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Competitive Dashboard

The key players dominating the global metal packaging market include Ardagh Group (Ireland), Crown Holdings, Inc. (the US), Ton YI Industrial Corporation (Taiwan), CPMC Holdings Limited (China), Ball Corporation (US), Silgan Holdings Inc. (US), HUBER Packaging Group GmbH (Germany), CAN-PACK SA (Poland), BWAY Corporation (US), Greif, Inc. (US), Metal Packaging Europe (Belgium), Toyo Seikan Group Holdings (Japan), and Emballator Metal Group (Sweden).

Global Metal Packaging Market: Segmental Analysis

The global metal packaging market share has been segmented on the basis of type, material, and application.

By type, the metal packaging market is segmented into drums & barrels, cans, caps & closures, and others. Of these, the cans segment is likely to acquire the largest market share as it is one of the most widely used packaged types. Can have become extremely popular in developed as well as developing economies owing to the surging demand for beverages. They come in several sizes and shapes and are used for products like personal care, food & beverages, and households.

By material, the metal packaging market is segmented into steel, aluminum, and others. Of these, the steel segment is likely to acquire the largest share in the global market. On the other hand, the aluminum segment exhibits a high growth rate and is likely to register the highest CAGR due to the increasing demand for carbonated soft drinks, beer, and energy drinks.

By application, the metal packaging market is classified into healthcare, food & beverages, chemical, personal care, and others. Of these, the food & beverages segment is predicted to acquire the largest market share as metal packaging market share extends the shelf life of the food products and offer protection against oxygen, light, and bacteria.

Regional Frontiers

Geographically, the global metal packaging market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).

North America acquired the largest share in 2018 for metal packaging, mainly due to the fast-paced lifestyle, which has led to convenient packaging. In this region, the U.S. is considered a major contributor, owing to its high dependency on canned beverages and food items. The existence of strong food and beverage industries is predicted to contribute to the market growth.

The Asia Pacific will exhibit immense growth opportunities for soft drink manufacturers and expand at the fastest rate. The existence of developing nations like India and China, improved living standard of people, and rising disposable income are some of the prime factors likely to augment the metal packaging market growth in the coming years.

Industry Updates

July 2019: Ardagh Group is planning to merge its food & specialty metal packaging business with Exal, an aluminum containers maker, thus forming the Trivium Packaging entity. Trivium is likely to become one of the largest business in metal packaging in the world.

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sagar Joined: January 20th, 2020