Metal Packaging Market to Reach USD 1,21,787.59 million by 2030
The global metal packaging market is expected to witness significant growth in the coming years, according to a new report by Market Research Future (MRFR). The report states that the market is expected to reach a valuation of USD 1,21,787.59 million by 2030, growing at a CAGR of 3.50% during the forecast period (2022 – 2030).
The increasing demand for metal packaging solutions in the food and beverage, pharmaceuticals, and personal care industries is driving the growth of the market. Moreover, the increasing demand for eco-friendly and sustainable packaging solutions is also expected to drive the growth of the market.
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Market Segmentation:
The global metal packaging market has been segmented on the basis of material, product type, end-use industry, and region.
Based on material, the market has been segmented into aluminum, steel, and others. The aluminum segment is expected to dominate the market during the forecast period, owing to the high demand for aluminum packaging solutions in the food and beverage industry.
Based on product type, the market has been segmented into cans, containers, caps & closures, and others. The cans segment is expected to dominate the market during the forecast period, owing to the high demand for canned food and beverage products.
Based on end-use industry, the market has been segmented into food and beverage, pharmaceuticals, personal care, and others. The food and beverage segment is expected to dominate the market during the forecast period, owing to the high demand for metal packaging solutions in the food and beverage industry.
Regional Analysis:
The global metal packaging market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Europe is expected to dominate the market during the forecast period, owing to the presence of a large number of metal packaging manufacturers in the region. Moreover, the increasing demand for eco-friendly and sustainable packaging solutions in the region is also expected to drive the growth of the market.
Asia-Pacific is expected to witness significant growth during the forecast period, owing to the increasing demand for metal packaging solutions in the food and beverage, pharmaceuticals, and personal care industries. Moreover, the growing middle-class population in the region is also expected to drive the growth of the market.
Industry Trends:
The global metal packaging market is highly competitive, with a large number of players operating in the market. Some of the key players in the market include Ardagh Group S.A., Ball Corporation, Crown Holdings, Inc., Tata Steel Packaging, and Silgan Holdings Inc.
The market is witnessing the entry of new players, owing to the increasing demand for metal packaging solutions among consumers. Moreover, the increasing demand for eco-friendly and sustainable packaging solutions is expected to drive the growth of the market in the coming years.
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Key Players:
Some of the key players operating in the global metal packaging market include Ardagh Group S.A., Ball Corporation, Crown Holdings, Inc., Tata Steel Packaging, and Silgan Holdings Inc.
Ardagh Group S.A. is a leading provider of metal packaging solutions for the food and beverage, pharmaceuticals, and personal care industries. The company has a strong presence in the European market, and is focusing on expanding its operations in other regions.