New York, USA, August 02, 2022 (WORLD NEWS CABLE) — Metal Packaging Market Overview
According to a comprehensive research report from Market Research Future (MRFR), “Metal packaging market Information by material, type, application and region – Forecast until 2030”, the market is estimated to grow at a CAGR of 4.2% to reach USD 150 billion in 2030.
Metals are easy to recycle, including steel and aluminum. Aluminum is one of the most lucrative materials to recycle, and steel is the most widely recycled globally. About 75 percent of the aluminum produced in the United States is still in use. Metals can be recycled repeatedly, unlike other materials like plastic, reducing the need to dig for new supplies. For more than a century, aluminum has been used to package food and other products. Aluminum cans and containers are two of the most well-known applications of aluminum. Some products have always been sold in aluminum containers. Metal containers can help spread the shelf products life.
Canned foods, for example, can last years longer than similarly priced fresh foods. Many customers are looking for ways to live more sustainable and environmentally friendly lives and minimize their carbon footprints. Using metal to package your items can help attract customers who want to go green because it’s well known to be easy to recycle and pose less of a threat to people and the environment than plastic. Today, both physical and online stores have a huge selection of packaged food products from different brands. Metal packaging is ideal for beverage containers because it is easy to cool, perfect for maintaining the freshness of the content, and prevents breakage during transport due to the robustness of the material.
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Scope of the report:
|Market size 2030||$150 billion|
|Forecast Units||Value (billions of USD)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors and Trends|
|Covered segments||By material, type, application and region|
|Covered Geographies||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||The increase in demand due to the growth in the consumption of beverages|
|The demand for use in aerosol cans has also brought growth in the market.|
Competitive landscape of the market:
The companies established in the metal packaging market are:
- CAN-PACK SA (Poland)
- HUBER Packaging Group GmbH (Germany)
- Greif, Inc. (USA)
- BWAY Corporation (USA)
- Crown Holdings, Inc. (USA)
- Ardagh Group (Ireland)
- CPMC Holdings Limited (China)
- Ton YI Industrial Corporation (Taiwan)
- Silgan Holdings Inc. (USA)
- Ball Corporation (USA)
- Toyo Seikan Group Holdings (Japan)
- Metal Packaging Europe (Belgium)
- Embalator Metal Group (Sweden)
Covered USP market:
Given that metal containers are suitable for safeguarding the content of food and guaranteeing greater shelf shelf life than other packaging methods, it also finds widespread use in the food and beverage industry. Meals that can be eaten immediately or on the go have also seen a constant demand for convenience, particularly from customers who lead hectic lives. Therefore, large and well-organized retailers have started to stock a lot of canned goods.
The increase in the market value of metal packaging is due to growing consumer demand for 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 expansion of the metal packaging market. The main expansion prospect is also the result of efficiency at low cost. This results from the manufacturing firm’s access to low-cost raw materials.
The consumption of canned products and pasta, which are highly concentrated in BPA and can create serious problems in the human body by raising the level of estrogen, is a major factor impeding the growth of the metal packaging market. Therefore, packaging manufacturers are working hard to offer products that are safe 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 spread of the pandemic is to blame for this shortage. Since there was a lack of transportation, there was a high demand for raw materials. Making an environmentally friendly product is the second challenge. Because the profitability of certain environmentally friendly raw materials is high, it is difficult for small and medium-sized manufacturing companies to obtain financing.
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People’s daily lives are being severely affected as the pandemic spreads more widely across the world. Many governments have instituted lockdowns due to the rise in positive cases, so residents are encouraged to stay home. Also, more people are working from home, which has reduced the spread of the pandemic.
However, several industries have suffered losses due to the implementation of the lockdown. Many industrial companies spend considerable effort to meet the need for raw materials. There was a high market demand for metal containers due to the lack of transportation and the scarcity of raw materials. After lockdown limitations were lifted, this increased due to the use of metals in the construction sector.
Cans are anticipated to maintain their leading position globally in the metal packaging market. The can category dominated the metal packaging market worldwide.
By type of material
The steel sector held the largest market share of the global metal packaging market.
The region with the largest market share in North America. This is the result of the boom in food and beverage business in North America. In addition, the US leads the metal packaging market and is one of the nations with the largest shareholding. The United States is the market leader due to the growing demand for canned and processed products in this nation.
The fastest growing region of the forecast period is forecast 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 beverages. Finally, the health care industry is the main driver of growth in the Asia-Pacific area. The need for metal sterilizers, trays, tablet wrappers and ointment tubes will further motivate the growth of the market.
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