Metal packaging market to grow by $22.63bn
The metal packaging market is expected to grow by $22.63billion from 2021 to 2026, progressing at a CAGR of 3.01% during the forecast period, according to Technavio.
The report offers an up-to-date analysis as well as exact growth variance and the Y-O-Y growth rate.
The global metal packaging market is a part of the global metal and glass containers market.
This report has extensively covered external factors that will influence the parent market growth potential in the coming years to determine the levels of growth of the metal packaging market during the forecast period.
The global metal and glass containers market will be driven by factors such as the growing packaging industry, high demand for plastic packaging, growing use of glass packaging, and technological advances in packaging materials production.
Metal Packaging Market 2022-2026: Segmentation
By end-user, the market has been segmented into food packaging, beverage packaging, personal care packaging, and others.
The food packaging segment will have significant market share growth during the forecast period. The growth is attributed to the significant rise in the demand for metal packaging to cater to the growing demand for convenient food options.
By geography, the market has been segmented into North America, APAC, Europe, South America, and MEA.
APAC will have the highest market share growth during the forecast period.
Metal Packaging Market 2022-2026: Drivers and Challenges
The increasing launch of new food and beverage products in metal cans is one of the key factors driving the global metal packaging market.
Many vendors prefer to use metal packaging for new products. For instance, in May 2019, John West Foods Ltd. (John West) launched a new range of tuna toppings in the UK.
Volatility in raw material prices is one of the key challenges to the global metal packaging market growth. Various types of raw materials, such as steel, aluminium, and tinplate, are used in the metal packaging industry.
Fluctuations arise due to factors such as changing economic conditions, currency fluctuations, commodity price fluctuations, transportation costs, and others.
Metal Packaging Market 2022-2026: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the metal packaging market, including Amcor Plc, Ardagh Group SA, Ball Corp., COFCO Corp., Crown Holdings Inc., Greif Inc., Kian Joo Can Factory Bhd, MAUSER Corporate GmbH, Silgan Holdings Inc., and Sonoco Products Co. among others.
Metal Packaging Market 2022-2026: Key Highlights
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist metal packaging market growth during the next five years
- Estimation of the metal packaging market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the metal packaging market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of metal packaging market vendors