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Trusted Business Insights presents an updated and Latest Study on Metal Packaging Market Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Metal Packaging Market market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Trusted Business Insights presents insights on its recently created report titled, Global Metal Packaging Market Size, Regional Market Shares, Trends, Drivers, Internal and External Threats, and Forecast: 2019 to 2028. The global metal packaging market is estimated to register a notable CAGR in terms of revenue over the 10-year period (2019“2028). The global metal packaging market report has been segmented on the basis of material type, product type, application, and region.
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Metal Packaging: Overview
Metal packaging, made using either aluminum or steel, is smart packaging solution used in various industrial verticals, wholesale and retail sectors, and other commercial sectors. Metal Packaging helps to protect and preserve the products from getting spoilt, with a proven safety and sustainability record. In comparison with other materials, steel and aluminum-based metal packaging are being considered as more environment-friendly. Also, these raw materials are 100% recyclable and offer multi-recyclable characteristics with minimal or no loss of packaging material quality. These two raw materials can be used to manufacture packaging of variety of sizes, shapes, and hence can be used in various industries including food & beverages, pharmaceuticals, chemicals, personal care products, among others.
Driving, Hindering, and Trending Forces, and Their Impact on Market Growth
Metal material-based packaging have properties that help to easily get molded and shaped using modern techniques and by adopting advanced machines in order to produce easy-to-open lids, variety of surface designs, with higher tightness and solidity. This is among the major drivers of the global metal packaging market. Rapidly growing demand for canned food, ready-to-eat food, carbonated and non-carbonated drinks is expected to have a positive impact on the target market significantly. In addition, rising adoption of drums & barrels by various industries such as paints and coatings, and chemical industries is expected to boost growth of the global metal packaging market.
However, increasing environmental concerns regarding recycling of metal materials and adoption of high-density polyethylene (HDPE) and Polyethylene terephthalate (PET) bottles are factors that could challenge revenue growth of the global market.
Key trend observed in the global metal packaging market is that the manufacturers are focusing on development and production of re-closable cans and microwave-suitable containers in order to meet consumer demands with regards to the metal packaging and sustain in the global market. In addition to that, various manufacturers are focusing on decreasing wall thicknesses and adopting environment-friendly and cost-efficient coatings.
By Material Type:
Among the material type segments, the aluminum is most preferred metal used for packaging as aluminum is lightweight and flexible, and enables production of various shapes and sizes of packaging. Due to these factors, the aluminum segment is estimated to account for the largest share in terms of revenue in the target market.
By Product type:
Among product types mentioned below, the cans and the drums & barrels segments are anticipated to hold dominant position in terms of revenue share in the global metal packaging market. The segment is expected to account for notable growth rate in the target market.
Among the application segments, the food & beverages segment is projected to witness highest growth rate over the next 10 years, owing to rapidly growing food & beverages industry across the globe, coupled with rising need for metal packaging for canned food products and drinks. The pharmaceuticals segment is estimated to grow at a CAGR of X.X % over the next 10 years, due to increasing global number of patients with certain kind of diseases or disorders, coupled with ever-increasing need for pharmaceuticals used for treatment.
Analysis by Region
The North America market accounted for the largest share in the global metal packaging market in terms of revenue, owing to strong presence of various end-use industries such as food & beverage and pharmaceutical industries in the countries in the region. In addition, factors such as rising preference towards packed food, ready-to-eat food, alcoholic and non-alcoholic beverages, combined with need for lightweight and easy-to-dispose packaging have significantly resulted in demand for metal packaging, thus driving the NA market growth. The Europe market is expected to account for second-largest revenue share in the global market, due to increasing dependency on canned food, rising consumption of canned alcoholic beverages, presence of major metal packaging players in the region. The Asia Pacific metal packaging market is projected to grow at a substantial CAGR owing to growing industrialization in countries such as India, China and Japan, resulting in increasing demand for bulk metal containers such as barrels and drums. Additionally, rising investments on technological advancements in metal packaging is expected to create growth opportunities for players in the APAC market in the years to come.
Global Metal Packaging Market Segmentation:
Segmentation by Material Type:
Segmentation by Product Type:
Drums & Barrels
Caps & Closures
Segmentation by Application:
Food & Beverages
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