The report forecasts the global light metal packaging market to grow at a CAGR of 2.28% during the period 2016-2020.
Various technological innovation will be a key trend for market growth. The light metal packaging market is experiencing various technological innovations with companies introducing new and innovative products in the market. Manufacturers are looking for packaging solutions that are high performing, which ensures that the manufacturing costs are low. Packaged food, beverages, and personal care companies are demanding highly competitive, cost-efficient, and visually appealing packaging solutions.
Such demands have pressurized vendors to use new technologies to innovate their product offerings. For instance, nanotechnology has been used to develop advanced materials that can be used in packaging products or to coat packaging materials. Such technological innovations are expected to help vendors compete in the highly fragmented light metal packaging market, and this is expected to lead to market growth during the forecast period.
According to the report, rise in demand from healthcare industry will be a key driver for market growth. The healthcare industry demands high-quality packaged products. For instance, prefilled syringes, which are widely used in pharmaceutical enterprises, are extremely sensitive to microorganisms, and therefore, need to be packaged using high-quality materials and have their safety ensured until delivery or use. These syringes are rapidly being adopted in pharmaceutical enterprises because of their numerous applications, such as in emergency wards during critical care of patients.
Also, the increasing R&D in the healthcare industry, the critical care of patients is predicted further to increase the demand for high performance delivery packaging. Hence, the demand for premium packaging solutions is driving and is expected to continue to drive demand in the light metal packaging market during the forecast period.
- Ardagh Packaging Holdings
- Crown Holdings
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by products
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
For more information about this report visit http://www.researchandmarkets.com/research/hsdtf2/global_light
Related Topics: Metal Packaging
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-light-metal-packaging-market-to-grow-228-by-2020---rise-in-demand-from-healthcare-industry---research-and-markets-300313363.html
SOURCE Research and Markets