Metal Packaging Market to Reach $153 Billion, Globally by 2022

Metal Packaging Market report, published by Allied Market Research, forecasts that the global market is expected to garner $153 billion by 2022, registering a CAGR of 3.3% during the period 2016 - 2022. Based on end use, food segment occupied more than two-fifths share of the total market in 2015.

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Metal packaging provides superior barrier protection to the contents packed from pathogens. In addition, it extends the shelf life, which provides consumers the benefits of year-round availability of perishable food products. Furthermore, metals can be easily sterilized, which makes them a versatile material of choice in food, beverages, and healthcare applications. Steel and aluminum are the two most extensively used metals for packaging.

Global rise in population and on-the-go lifestyle have triggered the demand for convenient packaging. Furthermore, increase in health awareness and health benefits associated with metal-packaged products is anticipated to provide potential growth opportunities to the market. However, fluctuation in prices of raw materials and bisphenol A (BPA) exposure are expected to hinder the market growth. Technological advancement such as modified atmospheric packaging, investment in expansion of facilities by market players, and e-commerce are expected to fuel the market growth.

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.

KEY FINDINGS OF THE STUDY

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%.

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, and Tata Steel.

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This release was published on openPR.