Report Code : A01580
Due to increase in urbanization and the need to maintain a healthy lifestyle, the demand for metal packaging increases. The driving force of the global market is the growing consumer preference for processed and packaged foods. Metal packaging gains popularity due to changes in consumer tastes, increased sales of foods such as frozen and refrigerated foods, and changes in lifestyle. Improving living standards, increase in incomes, a steadily growing economy, and increase in alcohol consumption are key growth drivers for the Asia-Pacific region.
Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research
According to a new report published by Allied Market Research, titled, “Metal Packaging Market," The metal packaging market was valued at $108.8 billion in 2020, and is estimated to reach $147.4 billion by 2030, growing at a CAGR of 3.1% from 2021 to 2030.
Metal packaging, which comprises of aluminum or steel, is a clever packaging solution that is utilized in a variety of industries, wholesale and retail sectors, and other commercial sectors. Metal packaging has a proven safety and sustainability record, and it helps to safeguard and preserve items from spoilage. Steel and aluminum-based metal containers are believed to be more environmentally friendly than other materials. Furthermore, these raw materials are 100% recyclable and have multi-recyclable properties with little or no degradation in packing material quality. These two basic materials can be used to make packaging in a range of sizes and forms for a variety of industries, including food and beverage, medicines, chemicals, and personal care goods, and others.
Metal-based packages are easily molded using the latest technology, lids that can be easily opened using advanced machines, and various surface designs with higher airtightness and strength. Its property of being moldable is one of the major drivers of the global metal packaging market. The rapid increase in demand for canned foods, prepared foods, and carbonated and non-carbonated beverages is expected to have a significant positive impact on the target market. In addition, increase in adoption of barrels and drums in various industries, such as paints and coatings and chemical, is expected to boost the growth of the global metal packaging market.
However, growing environmental concerns associated with the recycling of metallic materials and the introduction of high density polyethylene (HDPE) and polyethylene terephthalate (PET) bottles are factors that are expected to challenge revenue growth in the global market. The main trend observed in the global metal packaging market is the development of resalable cans and containers that can be used in microwaves to help manufacturers meet the consumer demand for metal packaging and compete in the global market. The focus is on production. In addition, various manufacturers rely on thinner walls and environment-friendly and cost-effective coatings.
The metal packaging market is segmented into type, material, application, and region. Depending on type, the market is categorized into cans, caps & closure, barrels & drums, and others. Depending on raw material use, it is fragmented into steel, aluminum, and others. By application, it is classified into food, beverage, healthcare, personal care, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global metal packaging market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Alcoa Incorporated, Amcor Ltd., Ardagh Group, Ball Corporation, CPMC Holdings Ltd., Crown Holdings, Greif Incorporated, Silgan Holdings, Tata Steel, and Ton Yi Industrial.
The global metal packaging market is analyzed in accordance with impacts of drivers, restraints, and opportunities. The period studied in this report is 2020–2030. The report includes the study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
KEY FINDINGS OF THE STUDY
IMPACT OF COVID-19 ON METAL PACKAGING MARKET
Talk to David (Europe)
Talk to Sona Padman (Americas)
5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91 2066346060
Fax: +1(855) 550-5975
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com
Metal Packaging Market by Material (Steel, Aluminum, Others), by Type (Cans, Caps and Closures, Drums and Barrels, Others), by Application (Food, Beverages, Personal Care, Health Care, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Buy Full Version
"Metal Packaging Market"
Purchase Enquiry
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save the time of readers