Metal Packaging Market – Global Industry Perspective Comprehensive Analysis And Forecast, 2030

The growth of the metal packaging market is primarily driven by advances in packaging technology and a significant demand for canned food.

WILMINGTON, DELAWARE, UNITED STATES, January 30, 2024 /EINPresswire.com/ — Allied Market Research recently released a report titled “Metal Packaging Market,” highlighting key insights into the industry. The global metal packaging market saw a revenue of $108.8 billion in 2020 and is projected to reach $147.4 billion by 2030, with a compound annual growth rate (CAGR) of 3.1% from 2021 to 2030.

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Key Growth Factors:

The growth of the metal packaging market is primarily driven by advances in packaging technology and a significant demand for canned food. However, challenges such as environmental concerns related to steel mining and rising material costs pose hindrances. On the positive side, the increasing popularity of luxury products like cookies, coffee, tea, and others in metal packaging creates new opportunities.

Impact of Covid-19:

The Covid-19 pandemic negatively impacted the market due to lockdowns, causing temporary halts in metal container production. Issues like raw material shortages and unavailability of labor disrupted supply chains, leading to delays in packaging projects, as seen with Ball Corporation’s announcement in May 2020.

Material and Application Analysis:

– Material: Steel dominated the market in 2020, holding over three-fifths of the global metal packaging market. It is expected to maintain its leading position throughout the forecast period. Aluminum, particularly in the beverage sector, is projected to exhibit the highest CAGR of 4.4% from 2021 to 2030.

– Application: The food segment led the market in 2020, contributing to more than two-fifths of the global metal packaging market. It is expected to maintain its lead, driven by metal packaging’s role in extending the shelf life of perishable food products. However, the personal care segment is anticipated to witness the highest CAGR of 4.4% from 2021 to 2030.

Regional Insights:

Europe, followed by North America, accounted for the highest revenue share in 2020, representing almost two-fifths of the global metal packaging market. This dominance is attributed to the presence of key market players. The Asia-Pacific region is expected to witness the fastest CAGR of 3.9% during the forecast period, driven by increased disposable income, application in the food and beverage industries, and a rising population.

Leading Market Players:

Key players in the metal packaging market include Amcor Plc., Ardagh Group S.A., Ball Corporation, CPMC Holdings Ltd., Crown Holdings, Inc., Greif Incorporated, Metal Packaging Europe, Silgan Holdings, Inc., Tata Steel, and Ton Yi Industrial.

For those interested in obtaining the detailed report, it is available for procurement here @ https://www.alliedmarketresearch.com/metal-packaging-market/purchase-options

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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