BANGALORE, India, May 27, 2022 /PRNewswire/ -- The Global Metal Packaging Market is Segmented by Type (Aluminum Packaging, Steel Packaging), by Application (Food Packaging, Beverage Packaging, Personal Care Packaging, Industrial Packaging): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Packaging Category.
Due to the COVID-19 pandemic, the global Metal Packaging market size is estimated to be worth USD 107830 Million in 2022 and is forecast to be a readjusted size of USD 125050 Million by 2028 with a CAGR of 2.5% during the review period.
Major factors driving the growth of the Metal Packaging market are:
Increasing application of metal packaging in end-user industries such as the Food industry, Beverage industry, and Personal Care industry is expected to drive the Metal Packaging market.
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TRENDS INFLUENCING THE GROWTH OF METAL PACKAGING MARKET:
The metal packaging market is predicted to rise due to the increased use of metal packaging in the food industry. Metal packaging plays a vital function in the preservation of food. The term "canning" is commonly used to describe this technique. During the last century, canned food and beverages have become a major element of the human diet in developed countries. It is especially useful in areas where there is no or limited refrigeration for food storage. It's a method of safely storing goods without causing microbial decay. Metal packaging has a dual purpose: it protects the food from external influences during heat treatment and storage, as well as serves as a sales and information pack. Furthermore, studies have shown that canned spinach, tomatoes, and kidney beans lose less food and nutrients than fresh processed versions.
Packaging must go the additional mile and drive marketing tactics for beauty and personal care items to compete effectively on congested shop shelves. Metal is a versatile packaging material that can be used to appeal to specific demographics of consumers. Metal packaging's flexibility in terms of sizes and shapes can assist in visually representing a brand's promise and distinguishing them from the competition as the health and beauty market continues to expand by offering goods for diverse genders, ages, and lifestyles. Furthermore, high-end cosmetics and personal care products can be quite costly. Metal is an excellent choice for conveying a sense of richness and value to customers. This factor is expected to drive the growth of the metal packaging market.
Since canned goods don't need to be refrigerated and steel is infinitely recyclable, they have a lower environmental impact. Further, the 71% recycling rate of cans reduces the environmental impact of cans since every ton of recycled steel saves iron ore, and energy in the production of cans (Can Manufacturers Institute 2020).
Over time, some packaging materials degrade. Paper, for example, will deteriorate with time and is susceptible to moisture damage. With time, plastics degrade and become sticky. Paper and plastic are far less durable than aluminum and metals. Metal is designed to be long-lasting and reusable. Because of these characteristics, it can be employed in a variety of industrial packaging applications. This factor is expected to drive the metal packaging market growth.
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METAL PACKAGING MARKET SHARE ANALYSIS
Because of the increasing demand for beer, carbonated soft drinks, and energy drinks, the aluminum category has a high growth rate and is predicted to have the greatest CAGR during the forecast period.
The food segment is expected to be the most lucrative segment. Metal packaging protects food and beverage goods from light, air, and microorganisms while extending their shelf life.'
Based on region, North America's metal cans market will develop significantly over the forecast period. The United States and Canada will be the primary contributors to this market.
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- Ball Corporation
- Toyo Seikan Kaisha
- Huber Packaging
- Kian Joo Group
- JL Clark
- Avon Crowncaps & Containers
- UnitedCan Company
- William Say
- Can Pack Group
- HUBER Packaging
- Tata Steel
- Toyo Seikan.
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