North America Captured the Largest Share in Metal Packaging Market


Posted June 5, 2017 by Pratik_M

The global metal packaging market is marked with intense competition due to the presence of a large number of both big and small firms.

 
The Metal Packaging Market has been growing in accordance with the construction industry. With increasing urbanized population, increasing consumption pattern of canned food, developing economics, increase in the usage of recycled material in the manufacturing process, and significantly increased demand for packaged food are the main aspects which would drive this market.The global market is projected to reach $135.69 Billion by 2020, with a CAGR of 3.0% from 2015 to 2020. The North America region accounted for around 34.4 % of the total market share in terms of value, followed by the European and Asia-Pacific regions.
In the recent years, Asia-Pacific has tremendously progressed in the metal packaging market which primarily includes emerging markets such as India and China. The North America realm held the majority of share in 2015 and accounted 34.4% of the total market, followed by Europe and Asia-pacific market with the share of 31.6% and 22.5% respectively. The main driving force in North America region is the changing lifestyle and convenience of packaged products. The emerging economies such as India and China have played a vital role in the rising growth rate of the industry.
The metal packaging market is primarily driven by increasing urbanization, rise in packaged food sales, increasing demand for aerosol products, rising demand for metal packaging in alcohol industry, and increasing consumption of canned vegetables and foods. Pharmaceuticals and cosmetics industry is propelling the growth of the metal packaging market. The drivers of the metal packaging market include increasing beverage and food market improved standard of living. These drivers are focused at reinforcing the growth of metal packaging market in the future. However, the market needs to handle critical challenges such as environmental issues related to steel manufacturing and flexible packaging. Middle East, Asia Pacific, Eastern Europe, and Africa have witnessed high growth on account of consumer preference towards lightweight and easy-to-dispose packaging.

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Objective Of Report:
• To define, describe, and forecast the Metal Packaging Market by Type, Material, End User and Region.
• To provide detailed information regarding major factors influencing the growth of the Metal Packaging Market (drivers, restraints, opportunities, and industry-specific challenges).

Key Player Analysis:
The key players in this market are Alcoa Incorporated (U.S.), Amcor Limited (Australia), Ardagh Group (Europe), Ball Corporation (U.S.), CPMC (China), Crown Holdings (Europe), Greif Incorporated (U.S.), Silgan Holdings (Connecticut, U.S.), Rexam Plc (U.K.), and Ton Yi Industrial (China).

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Scope of Report:
Increased urbanization and the need to maintain a healthy lifestyle has led to an increased demand for use of metal packaging. The driver for global market is the increase in consumer preference for processed and packaged foods. Metal packaging is attaining popularity because of changing consumer taste, rising sale of grocery products including frozen and chilled food, and changing lifestyle. Improving standard of living, rising income, steadily growing economies, and increasing alcoholic consumption represent key growth drivers in the Asia-Pacific region.

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Issued By Pratik
Country India
Categories Business
Tags metal packaging market , metal packaging market uk , metal packaging market usa
Last Updated June 5, 2017