Metal Packaging Market Owing To Increase In Consumption Of Canned Food And Beverages And Emerging Economies In Global Market
Metal packaging provides excellent barrier protection for packaged contents from pathogens. It also extends the shelf life to provide year-round benefits to consumers of perishable foods. In addition, metals can be easily sterilized, making a variety of materials of choice in food, beverage and medical applications. Steel and aluminum are two of the most widely used metals for packaging.
Population growth and a busy lifestyle have spurred demand for convenient packaging. In addition, an increase in health awareness and health benefits associated with metal packaged products is expected to provide potential growth opportunities in the market. However, rising raw material prices and exposure to BPA (Bisphenol A) are expected to hamper market growth. Such amendments are expected to fuel market growth, such as technological advances such as atmospheric packaging, investment in the expansion of facilities by market participants, and e-commerce.
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LAMEA is projected to grow at a CAGR of 4.3% during the analysis period, owing to increase in demand for canned food products and scarcity of harvestable land. India is expected to grow at a CAGR of 4.7% during the forecast period.
Top players operating in the metal packaging market include
• Ardagh Group
• Alcoa Incorporated
• CPMC Holdings Ltd
• Manaksia Group
• Emballator Metal Group
• Ball Corporation
• Crown Holdings
• Silgam Holdings
• Ton Yi International
• Tata Steel.
Increase in global consumption of alcoholic and nonalcoholic beverages has positively impacted the growth of metal packaging market with increase in demand for aluminum beverage cans. Moreover, increase in new brewery firms and confectionery items has increased the demand for caps and closures, respectively.
Furthermore, growth in industrialization is expected to trigger the demand for bulk packaging such as drums and barrels. Based on product type, cans have occupied approximately two-thirds share in 2015, and is expected to grow at a CAGR of 2.9% during the forecast period.
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Key Findings of the Metal Packaging Market
• In terms of both value and volume, aluminum is projected to show fastest growth during the forecast period.
• Based on product type, drums & barrels is expected to grow at a CAGR of 3.3% from 2016 to 2022, in terms of volume.
• In 2015, Europe occupied one-third share of the global market, in terms of revenue.
• Asia-Pacific is expected to grow at a CAGR of 4.1% during the forecast period.
• Based on end use, personal care is expected to grow at a CAGR of 4.0%.
• Beverages segment occupied approximately one-fourth share in 2015, and is expected to grow at a CAGR of 3.4%.
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