New, York, USA, Aug. 02, 2022 (GLOBE NEWSWIRE) — Metal Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “ Information by Material, Type, Application, And Region – Forecast till 2030”, the market is estimated to grow at a 4.2% CAGR to reach USD 150 Billion by 2030.
Metals are simple to recycle, including steel and aluminum. Aluminum is one of the most lucrative materials to recycle, and steel is the one that is recycled the most globally. Approximately 75 percent of the aluminum produced in the United States is still in use. Metals can be recycled repeatedly, unlike other materials like plastic, which lessens the need to dig for new supplies. For over a century, aluminum has been used for packaging meals and other goods. Cans and foil packaging are two of aluminum’s more well-known applications. Some products have always been sold in aluminum packaging. Metal containers can help extend the shelf life of products.
Food in cans, for instance, can keep years longer than similarly priced fresh food items. Many customers are looking for ways to live more sustainably and environmentally friendly lives and minimize their carbon footprints. Using metal to package your items can help appeal to customers who want to be green because it is well known to be simple to recycle and pose fewer threats to people and the environment than plastic does. Today, both offline and online stores have a large selection of packaged food products from different brands. Metal packaging is ideal for beverage containers because it is simple to chill, perfect for maintaining the contents’ freshness, and prevents breakages while in transit because of the material’s sturdiness.
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|2030 Market Size||USD 150 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Material, Type, Application, And Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||The increase in the demand for the growth of the consumption of the beverages|
|The usage demand in aerosol cans has also brought growth in the Market.|
Market Competitive Landscape:
The established companies in the metal packaging market are:
- CAN-PACK SA (Poland)
- HUBER Packaging Group GmbH (Germany)
- Greif, Inc. (US)
- BWAY Corporation (US)
- Crown Holdings, Inc. (the US)
- Ardagh Group (Ireland)
- CPMC Holdings Limited (China)
- Ton YI Industrial Corporation (Taiwan)
- Silgan Holdings Inc. (US)
- Ball Corporation (US)
- Toyo Seikan Group Holdings (Japan)
- Metal Packaging Europe (Belgium)
- Emballator Metal Group (Sweden)
Market USP Covered:
As metal packaging is appropriate for safeguarding food content and ensuring a longer shelf life than other packaging methods, it also finds widespread use in the food and beverage industry. Meals that may be had immediately or while on the have also seen a consistent demand for practicality, particularly from customers who lead hectic lives. Large, well-organized retailers have therefore started to stockpile many canned goods.
The rise in metal packaging market value results from rising consumer demand for the packaging materials used in the food and beverage industries. The market has grown as a result of the demand for aerosol cans. High-quality product packaging materials are a key factor in the metal packaging market’s expansion. The primary prospect for expansion is also a result of the effectiveness at cheap costs. This results from the manufacturing company’s access to low-cost raw materials.
The consumption of canned goods and pasta, which are highly concentrated with BPA and can create serious problems in the human body by raising the estrogen level, is a major factor impeding the growth of the metal packaging market. Therefore, package manufacturers are working hard to provide safe products for people and the environment. The need for packaging items has led to an increase in utilization, which has led to a lack of raw materials for the manufacturing industry. The pandemic’s propagation is to blame for this shortage. Since there was a lack of transportation, there was a high demand for raw resources. Making an environmentally friendly product is the second challenge. Because the cost-effectiveness of certain environmentally friendly raw materials is high, it is difficult for small and medium-sized manufacturing businesses to secure funding.
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COVID 19 Analysis
The people’s daily lives are badly impacted as the pandemic spreads more widely across the world. Many governments have instituted the lockdown because of the rise of positive cases, so residents are encouraged to remain in their houses. Additionally, more people are working from home, which has reduced the pandemic’s spread.
However, several industries have suffered losses due to the lockdown’s implementation. Many industrial enterprises exert considerable effort to meet the need for raw resources. There was a great demand for the metal packaging market because of the lack of transportation and the scarcity of raw materials. After the lockdown limitations were lifted, this increased due to the utilization of metals in the building sector.
Cans are anticipated to maintain their leadership position worldwide in the market for metal packaging. The cans category dominated the market for metal packaging worldwide.
By Material Type
The steel sector held the biggest market share of the global metal packaging market.
The region with the biggest market share in North America. This is a result of North America’s booming food and beverage businesses. Additionally, the US leads the metal packaging market and is one of the nations with the highest shareholdings. The US is the market leader due to the steadily rising demand for canned and processed goods in this nation.
The projected period’s fastest-growing region is forecasted to be the Asia-Pacific region. This is due to the expansion of numerous sectors, and one of the key factors driving the growth of the metal packaging market in the Asia-Pacific region is the need for food and beverage items. Lastly, the health care industry is the primary driver of growth in the Asia-Pacific area. The need for metal sterilizers, trays, tablet wrappers, and ointment tubes will further motivate market growth.
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