Metal Packaging Market Overview
Metal packaging is used in both commercial and industrial product packaging. Further, aluminum and steel metals are used as a material in metal packaging process due to their light weight properties. Metal packaging available in many shapes, colors and cans to meet modern life styles. Additionally, metal packaging can be recycled again and again for future uses without losing its quality.
Market Size and Forecast
Global metal packaging market is anticipated to expand at a compound annual growth rate (CAGR) of 4.8% over the forecast period i.e. 2017-2024. The global market of metal packaging stood at revenue of USD 121.2 Billion in 2015. Further, global metal packaging market is expected to reach at revenue of USD 152.9 Billion by the end of forecast period. Factors such as rising demand for nutrient retaining packaging solution in food & beverage sector and abilities of metal packaging to be recycled again and again are anticipated to bolster the growth of global market of metal packaging during the forecast period.
Further, global metal packaging market is segmented into packaging type, material, application and region. Further, packaging type segmented into cans, jars, containers, barrels, foils, caps & closures, drums and others. Likely, containers segment is expected to witness high demand from food and beverage industries during the forecast period.
Regionally, global metal packaging market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is dominating the global market of metal packaging and was accounted for the largest share of global metal packaging market in recent years. High consumption of canned vegetables & foods and growing demand for aerosol packaged products are some major factors which are envisioned to escalate the growth of metal packaging market in North America region.
Further, Europe is the second leading market of metal packaging and is anticipated to grow at a remarkable pace during the forecast period. Factors such as rising consumer’s preference for metal packaged products and growing metal recycling are likely to foster the growth of Europe metal packaging market during the forecast period.
In addition to this, massive population, growing disposable income of the consumers and urbanization are some of the major factors which are expected to fuel the demand for metal packaged products in Asia Pacific region during the forecast period.
Our in-depth analysis has segmented global metal packaging market into the following segments:
By Packaging Type
By End Use Industries
Global metal packaging market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Global metal packaging market is primarily driven by growing consumer’s preferences for packaged food and growing awareness towards nutrient retaining packaging across the world. Further, metal packaging market is anticipated to grow during the forecast period owing to high consumption of can packaged food products.
Furthermore, growing urbanization in emerging countries and increasing disposable income of the consumers are some major factors which are likely to drive the growth of global market during the forecast period. The demand for metal packaging in beverage industries is increasing due to high demand for alcoholic drinks, cold drinks and other beverage. Further, this rise in demand for metal packaging in beverage industries are anticipated to drive the global market of metal packaging in near future.
Additionally, rising prevalence of metal packaging in pharmaceutical and cosmetics industries is likely to fuel growth of metal packaging market. Further, rising popularity of retail ready packaging in end use industries is believed to drive the global market at remarkable pace during the forecast period.
However, availability of alternate packaging systems including bio-plastic is a major factor which is expected to hamper the growth of global metal packaging market in near future. Apart from this, growing concern towards effect of steel packaging over environment is also a major factor which is likely to restrain the growth of global metal packaging market.
Scope and Context
Overview of the Parent Market
The global metal packaging market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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