Study report: Global metal packaging market to be worth $150 billion by 2026

SEATTLE (Scrap Monster): Transparency Market Research (TMR) has announced the release of a new report that analyzes the growth prospects of global metal packaging market. The report titled “Metal Packaging Market-Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2026” provides detailed insights about global metal packaging market dynamics. According to the report, the market is projected to touch $150 billion by 2026.

Metal packaging market has witnessed tremendous growth over the past few years, mainly on account of increasing health consciousness among customers. Metal packaging has been increasingly used for safe preservation of foodstuffs, medicines, chemicals etc. This type of packaging has been widely used both in developing and developed countries, especially in places where there is no or limited facility for refrigeration of foodstuff. The report notes that cans are the most commonly used type of metal packaging across the world. The popularity of soft drinks served in metal cans has seen significant growth over the past several years.

The global market for metal packaging is likely to be driven by two key factors. Firstly, the changing lifestyle of people around the world is expected to boost the intake of packaged food and beverages. In particular, the consumption of canned fruits and vegetables is likely to surge significantly. The second key factor that may drive growth of metal packaging use is its ability to prevent the contents from microbiological deterioration. This property will result in increased use of metal packaging by pharmaceutical and personal care industries.

On the other hand, the growth of metal packaging market is likely to be impacted by the introduction of HDPE and PET bottles. To counter this, metal packaging companies are seen increasingly focusing on developing new metal packaging prototypes. Also, companies are seen spending on developing new marketing strategies to widen their market share.

Market Segmentation

The report provides segmentation of the global metal packaging market by product types. On the basis of metals used, the global metal packaging is segmented into aluminum, steel, tin and iron. On the basis of end use industry, the global metal packaging is divided into food & beverages industry, food services industry, oil & gas industry, chemical industry, personal care industry, household products, industrial use etc.

Regional outlook

The global metal packaging market is currently dominated by North America, on account of the highest consumption rate of canned food in the region. Europe is the second largest market, followed by Asia Pacific and Latin America. The report predicts high growth for metal packaging market in Latin America and Asia Pacific regions during the period from 2016-2026.

Leading market players

According to the report, the leading players in the global metal packaging market are Amcor Limited, Ardagh Group, Alcoa Incorporated, CPMC, Manaksia Group, Emballator Metal Group, Crown Holdings, Grief Incorporated, Silgan Holdings, Rexam Plc, Jamestrong Packaging, Shetron Group, Ton Yi Industrial, Bericap Group, GM Metal Packaging Ltd., Fujian Fuzhen Metal Packaging Co. Ltd., etc.

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.