Market Highlights
The demand for aluminum aerosol cans has been steadily rising, reaching a new level, driven largely by technological improvements in product performance and features, and innovations in aesthetic appearance in terms of colors, shapes and prints. The expansion in end-use application, especially in the field of personal care products, consumer household appliances and pharmaceuticals ensure better market prospects. In addition, the growth potential of the beverage market bodes well for the profitability of the metal packaging industry.
However, factors such as increasing material cost and environmental issues are the major restraints that could hinder the market growth. As, two predominantly used materials in metal packaging are steel and aluminium which are expensive compared to plastic.
Market Research Analysis
Based on application, the market is segmented as beverages, food, personal care, pharmaceuticals and others. In which, beverage application segment accounts for the largest share of 66% due to increase in urbanization, changing lifestyle and increasing disposable income. Food segment is the second-largest application and is projected to grow at 5.2% CAGR during the forecast period.
Based on region, North America region has accounted for the highest market share of 33.3%. The increasing consumption of beverages and rise in the usage of aerosol cans has led to the growth of market in the region. While, Asia-Pacific is projected to grow at the highest CAGR of 4.30%.
Key Players
The key players of the global metal packaging market Amcor Ltd. (Australia), Ardagh Group (Ireland), CPMC Holdings Ltd. (China), Crown Holdings (U.S.), Grief Incorporated (U.S.), Silgan Holdings (U.S.), Rexam Plc. (U.K.), Toyo Seikan Group Holdings, Ltd. (Japan), Ball Corporation (U.S.) and Huber Packaging Group GmbH (Germany).
Scope of the Report
This study provides an overview of the global metal packaging market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Asia-Pacific, North America, Europe and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global metal packaging market by its product, material, application and regions.
By Product-
Cans
Drums & Barrels
Caps & Closure
Others
By Material-
Steel
Aluminum
Others
By Application-
Beverage
Food
Personal care
Pharmaceutical
Others
By Region-
North America
Europe
Asia-Pacific
Rest of World
Know More @ https://www.marketresearchfuture.com/reports/metal-packaging-market-1917
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