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Classified in: Mining industry, Covid-19 virus
Subject: MRR

Metal Packaging Market Size to Grow to USD 125050 Million by 2028 with a CAGR of 2.5% | Valuates Reports


BANGALORE, India, May 27, 2022 /PRNewswire/ -- The Global Metal Packaging Market is Segmented by Type (Aluminum Packaging, Steel Packaging), by Application (Food Packaging, Beverage Packaging, Personal Care Packaging, Industrial Packaging): Opportunity Analysis and Industry Forecast, 2022?2028. It is published in Valuates Reports under the Packaging Category.

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Due to the COVID-19 pandemic, the global Metal Packaging market size is estimated to be worth USD 107830 Million in 2022 and is forecast to be a readjusted size of USD 125050 Million by 2028 with a CAGR of 2.5% during the review period.

Major factors driving the growth of the Metal Packaging market are:

Increasing application of metal packaging in end-user industries such as the Food industry, Beverage industry, and Personal Care industry is expected to drive the Metal Packaging market.

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TRENDS INFLUENCING THE GROWTH OF METAL PACKAGING MARKET:

The metal packaging market is predicted to rise due to the increased use of metal packaging in the food industry. Metal packaging plays a vital function in the preservation of food. The term "canning" is commonly used to describe this technique. During the last century, canned food and beverages have become a major element of the human diet in developed countries. It is especially useful in areas where there is no or limited refrigeration for food storage. It's a method of safely storing goods without causing microbial decay. Metal packaging has a dual purpose: it protects the food from external influences during heat treatment and storage, as well as serves as a sales and information pack. Furthermore, studies have shown that canned spinach, tomatoes, and kidney beans lose less food and nutrients than fresh processed versions.

Packaging must go the additional mile and drive marketing tactics for beauty and personal care items to compete effectively on congested shop shelves. Metal is a versatile packaging material that can be used to appeal to specific demographics of consumers. Metal packaging's flexibility in terms of sizes and shapes can assist in visually representing a brand's promise and distinguishing them from the competition as the health and beauty market continues to expand by offering goods for diverse genders, ages, and lifestyles. Furthermore, high-end cosmetics and personal care products can be quite costly. Metal is an excellent choice for conveying a sense of richness and value to customers. This factor is expected to drive the growth of the metal packaging market.

Since canned goods don't need to be refrigerated and steel is infinitely recyclable, they have a lower environmental impact. Further, the 71% recycling rate of cans reduces the environmental impact of cans since every ton of recycled steel saves iron ore, and energy in the production of cans (Can Manufacturers Institute 2020).

Over time, some packaging materials degrade. Paper, for example, will deteriorate with time and is susceptible to moisture damage. With time, plastics degrade and become sticky. Paper and plastic are far less durable than aluminum and metals. Metal is designed to be long-lasting and reusable. Because of these characteristics, it can be employed in a variety of industrial packaging applications. This factor is expected to drive the metal packaging market growth.

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METAL PACKAGING MARKET SHARE ANALYSIS

Because of the increasing demand for beer, carbonated soft drinks, and energy drinks, the aluminum category has a high growth rate and is predicted to have the greatest CAGR during the forecast period.

The food segment is expected to be the most lucrative segment. Metal packaging protects food and beverage goods from light, air, and microorganisms while extending their shelf life.'

Based on region, North America's metal cans market will develop significantly over the forecast period. The United States and Canada will be the primary contributors to this market.

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SIMILAR REPORTS:

-  The aseptic packaging market size was valued at USD 15,408.8 Million in 2020, and is expected to reach USD 32,301.4 Million by 2028, registering a CAGR of 9.8% from 2021 to 2028.

-  Due to the COVID-19 pandemic, the global Silicon Metal market size is estimated to be worth USD 5718.3 Million in 2022 and is forecast to a readjusted size of USD 8391 Million by 2028 with a CAGR of 6.6% during the review period.

-  The global pharmaceutical packaging market accounted for USD 88,880 Million in 2019 and is expected to reach USD 144,233 Million by 2027, registering a Compound Annual Growth Rate (CAGR) of 6.1% from 2020 to 2027.

-  The global pallet pooling market size is projected to reach USD 12480 Million by 2027, from USD 8479.9 Million in 2020, at a CAGR of 5.5% during 2021-2027.

-  Due to the COVID-19 pandemic, the global Food & Beverage Metal Packaging Container market size is estimated to be worth USD 31160 Million in 2022 and is forecast to a readjusted size of USD 42570 Million by 2028 with a CAGR of 5.3% during the review period.

-  The global Titanium Metal (Titanium Alloy) market was valued at USD 4659 Million in 2020 and it is expected to reach USD 6703.2 Million by the end of 2027, growing at a CAGR of 5.3% during 2021-2027.

-  The global metal recycling market size was USD 217.0 Billion in 2020 and is expected to reach USD 368.7 Billion by 2030, registering a CAGR of 5.2% from 2021 to 2030.

-  The global Blister Packaging market size is projected to reach USD 23570 Million by 2027, from USD 17490 Million in 2020, at a CAGR of 5.1% during 2021-2027.

-  Due to the COVID-19 pandemic, the global Metal Coatings market size is estimated to be worth USD 14410 Million in 2022 and is forecast to a readjusted size of USD 19400 Million by 2028 with a CAGR of 5.1% during the review period.

-  Due to the COVID-19 pandemic, the global Metal Powder market size is estimated to be worth USD 8598 Million in 2022 and is forecast to a readjusted size of USD 11460 Million by 2028 with a CAGR of 4.9% during the forecast period 2022-2028.

-  The global Packaging Foams market size is projected to reach USD 15970 Million by 2027, from USD 11980 Million in 2020, at a CAGR of 4.9% during 2021-2027.

-  The global liquid packaging market was valued at USD 331.8 Billion in 2019 and is projected to reach USD 463.2 Billion by 2027, registering a CAGR of 4.5% from 2020 to 2027.

-  The global Industrial Packaging market size is projected to reach USD 66090 Million by 2026, from USD 49000 Million in 2019, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period 2021-2026.

-  The global Metal Packaging Coatings market was valued at USD 2906 Million in 2020 and it is expected to reach USD 4053.5 Million by the end of 2027, growing at a CAGR of 3.3% during 2021-2027.

-  The global Edible Packaging market size is projected to reach USD 581.8 Million by 2027, from USD 473.3 Million in 2020, at a Compound Annual Growth Rate (CAGR) of 3.5% during the forecast period 2021-2027.

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Click here to see related reports on Metal Packaging Market

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