Metal Packaging Market Was Valued at USD 105.7 Billion in 2021 Owing to Increasing Demand for Packaged Food and Beverages

According to Precision Business Insights (PBI), the latest report the global metal packaging market is valued at USD 105.7 billion in 2021. The global metal packaging market is segmented into the following types: By Material (Steel, Aluminum, and Others), By Type (Cans, Caps and Closures, Drums and Barrels, and Others), By Application (Food, Beverages, Personal Care, Health Care, and Others), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East Africa) Forecast to 2028. Key players' profiles in the metal packaging market report are Alcoa Corporation, Crown Holdings, Ardagh Group, Ball Corporation, CPMC Holdings Limited, Amcor Limited, Silgan Holdings, and Tata Steel Packaging, Sonoco Products Company, Reynolds Group Holdings, Toyo Seikan Kaisha Ltd, Rexam Plc. The growing consumer awareness regarding the various health benefits of preserving organic products in metal-based packaging products is driving the growth of the global metal packaging market. The lower cost of metal substitute products and the safety concerns related to metal packing is expected to hamper the global metal packaging market.

View Detailed Report Description at https://precisionbusinessinsights.com/market-reports/metal-packaging-market/

Food Segment Dominates the Metal Packaging Market:
Based on application, the market is segmented into food, beverage, healthcare, personal care, and others. Food is anticipated to hold the largest share on an account of its convenience. The entire expansion of the packaging segment has been spurred by increased demand from the food and beverage industries. Lack of time and smaller family sizes drive demand for canned foods and beverages, propelling the metal packaging market.
North America Leads Metal Packaging Market
North America's metal packaging market share is projected to record commendable growth through 2028. The consumer goods giants in this region, such as Procter & Gamble, Kimberly-Clark, SC Johnson, and others, are largely utilizing the metal packaging for producing a large number of aerosol cans ranging from hairspray, perfume spray, air fresheners, and others. The market in Asia-Pacific is projected to be the fastest-growing. India and China, the two largest producers of pharmaceutical products, are also anticipated to have a huge contribution due to products such as medicine strips, gel, bottle lids, and others largely relying on metal packaging.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global metal packaging market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. For instance, In April 2021, Crown Holdings, Inc. announced that it has entered into a definitive agreement to sell its European Tinplate business to KPS Capital Partners, LP. Crown will receive pre-tax proceeds of approximately €1.9 billion from the transaction and will retain a 20% ownership stake in the business. The European Tinplate business comprises 44 manufacturing facilities in 17 countries in Europe, the Middle East, and Africa which produce food cans and ends, aerosol cans, metal closures, and promotional packaging for various consumer brands.

Request sample report at https://precisionbusinessinsights.com/request-sample?product_id=55153

Detailed Segmentation
Based on the Material, the market is segmented into the following:
• Steel
• Aluminum
• Others

Based on the Type, the market is segmented into the following:
• Cans
• Caps and Closures
• Drums and Barrels
• Others

Based on the Application, the market is segmented into the following:
• Food
• Beverages
• Personal Care
• Health Care
• Others

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Contact:
Mr. Satya
Precision Business InsightsTM | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.