Metal Packaging Market Worth $135.69 Billion by 2020
Jun 25, 2015, 05:30 ET
DALLAS, June 25, 2015 /PRNewswire/ --
The report "Metal Packaging Market by Type (Cans, Caps & Closures, Barrels & Drums, & Others), Raw Material (Steel, Aluminum, & Others), & by Application (Food, Beverages, Healthcare, Personal Care & Others) - Trends and Forecast to 2020" published by MarketsandMarkets, The global Metal Packaging Market is projected to reach $135.69 Billion by 2020, with a CAGR of 3.0% from 2015 to 2020.
Browse 173 market data Tables and 54 Figures spread through 248 Pages and in-depth TOC on "Metal Packaging Market".
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The market report defines and segments the global Metal Packaging Market with analysis and forecasting of the global volumes and revenues for Metal Packaging Market. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges.
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The market is segmented; volumes and revenues are forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). The key countries are covered and their market sizes forecasted for each region. Further, the market is segmented; volumes and revenues are forecasted on the basis of type, raw material, application, and region.
The Metal Packaging Market is buyer-oriented. It has shown substantial growth due to the resurgence of the goods and beverage industry. The urge of convenient packaging in developed and developing economies is the driving force for the global Metal Packaging Market. Emerging economies like India, China, and Brazil have changed their buying pattern by purchasing more packaged food to preserve food. Rising food market enables the global players to introduce new products, expand to new regions, and develop new technologies. Asia-Pacific with emerging nations is the most attractive market because of its inclination towards improvement in quality of food.
The global Metal Packaging Market is projected to reach $135.69 Billion by 2020, with a CAGR of 3.0% from 2015 to 2020. This is because strong growth of end-use industries in developing countries including India, China, and Brazil is further anticipated to propel the market growth over the projected period. The North American region accounted for around 34.4% of the total market share in terms of value, followed by the European and Asia-Pacific regions. However, as the urbanization is rising in developing countries such as China and India, are estimated to grow at a higher rate from 2015 to 2020.
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.
The global Metal Packaging Market is marked with intense competition due to the presence of a large number of both big and small firms. New product launches and innovations are the key strategies adopted by market players to ensure their growth in the market. The key players in the 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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