The Metal packaging market is expected to reach a market value of USD 150.69 billion by the end of the forecast period at a CAGR of 3.36% during the forecast period. Over the last few years, the metal packaging market has shown steady expansion. Increased consumption of beverages and demand for aerosol cans are predicted to enhance metal packaging demand. Metal packaging is the process of enclosing or protecting things for distribution, storage, and sale utilizing materials such as aluminum and steel. Food and beverage packaging, healthcare packaging, chemical packaging, personal care packaging, and other sectors employ this type of packaging. The packaging industry’s overall expansion has been fueled by rising demand from the food and beverage markets. The demand for canned food and beverages is being fueled by a lack of time and smaller family sizes, which is forcing the metal packaging market forward. Advances in packaging technology have also aided in the development of metal cans with increased functional and storage qualities, which has fueled market expansion in the beverages end-use sector. Metal can be found in both alcoholic and non-alcoholic beverages. However, problems such as environmental concerns about steel mining and rising material costs may limit the market’s expansion.
Because metal packaging demand is tied to the GDP trend and the amount of manufacturing activity, the COVID-19 epidemic has had a detrimental influence on the metal packaging market segment. As a result, the dramatic drop in COVID-19 lockdowns has resulted in a drop in packaging demand. However, industrial customers storing drums and intermediate bulk containers are balancing some of this, producing a temporary requirement. During the same period, several segments, such as pharmaceutical and food packaging, have continued to see significant demand.
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Based on the material, the market has been segmented into aluminum, steel, and others.
Based on the type, the market has been segmented into cans, drums & barrels, caps & closures, and others.
Based on the application, the market has been segmented into food & beverages, healthcare, personal care, chemical, and others.
Based on the market region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
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Because of the fast-paced lifestyle that leads to convenience packaging, North America was the greatest market for metal packaging. Because it relies on canned foods and beverages, the United States is a key contributor to the North American metal packaging market. The metal packaging industry has been led by Asia-Pacific, which is the fastest expanding region and offers tremendous potential opportunities for soft drink producers.
The major key players in the market are Crown Holdings, Inc., Ardagh Group, CPMC Holdings Limited, Ton YI Industrial Corporation, Silgan Holdings Inc., Ball Corporation, CAN-PACK SA, HUBER Packaging Group GmbH, Greif, Inc., BWAY Corporation, Toyo Seikan Group Holdings, Metal Packaging Europe, and Emballator Metal Group. The global metal packaging market is moderately competitive, with a moderate number of participants. The players are working to grow their worldwide presence and boost their market shares, and for the same, the firms are expected to employ a variety of techniques. A focus on high-quality products, cost-effectiveness, expansions, and strategic partnerships and collaborations with diverse manufacturing businesses are some of the primary strategies implemented by the players.
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