The global metal packaging market 2020 is witnessing a decent growth rate from the last couple of years. The demand for metal packaging is estimated to be affected by the rising utilization of beverages and the need for aerosol cans. The worldwide metal packaging market is anticipated to value USD 150.69 billion by 2025 and expanding at a CAGR of 3.36% during the review period.
The increasing demand from the food and beverage markets seems to propel the general expansion of the packaging industry. The dearth of time and small family sizes are increasing the requirement for canned food & beverages, and hence, affecting the expansion in the metal packaging market at a global level. Development in packaging technology, which helps in providing metal cans with better functional and storage characteristics, has also been an important factor propelling the market expansion in the beverages’ end-use vertical. Metal packaging is broadly utilized in non-alcoholic and alcoholic drinks. But the rise of the market may be obstructed by elements like environmental concerns about steel mining and increased material price.
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The global metal packaging market has been divided on the basis of type, material, and application.
The worldwide metal packaging market has been segregated into Europe, Asia-Pacific, North America, and the Rest of the world (RoW). North America acquired the maximum share in the global metal packaging market, followed by Europe and Asia-Pacific in the year 2018.
North America had been the greatest market for metal packaging because of the fast-speed lifestyle resulting in convenience and easier packaging. The US players a key role in participating in the North American metal packaging market because of its larger dependency on canned and packaged foods and beverages. Asia-Pacific is the fastest expanding vertical, which exhibits huge growth opportunities for soft drink producers has been helping in expanding the metal packaging market.
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