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Global metal packaging market: $152 billion industry by 2018
Metal Packaging: A Global Strategic Business Report - a new market research report on 2014-03-14 12:52:01
The global Metal Packaging market is projected to reach US$152 billion by 2018, driven by positive macroeconomic, demographic, and lifestyle trends, particularly in Asia-Pacific and Latin America.
Metal has been used as a packaging material for the storage and preservation of perishable products since time immemorial due to the qualities of metal packaging, including versatility, high functionality, inertness and non-permeability. In the consumer markets, packaging is a powerful tool for brand enhancement and product differentiation. The food and beverage industry represents the major end-use market for metal packaging, with a major portion of the demand dependent on beverage consumption. Changing lifestyles, rising GDP, burgeoning demand from emerging nations such as in Asia-Pacific and Latin America, rising awareness about the benefits of nutrient retaining packaging, ageing population, scarcity of time, and smaller family sizes have propelled the demand for single-serve canned food and beverage packs. Alcoholic spirits and wines, the biggest revenue generator in the beverages market, represents a lucrative yet challenging market for metal packaging manufacturers.
Technological advancements that refine the production process, developments in raw materials, and innovative product and technology launches serve as vital growth stimulants for metal packaging. Growing health, safety, and environmental awareness places major emphasis on the design of new packages as well as the materials used. Steel and aluminum packaging are prized for their strong barrier protection, and their ability to effectively preserve freshness and nutrient value of contents from degradation due to light, moisture, and air. Recycling is one of the key aspects that sets metal packaging a grade above other packaging materials, particularly polymer packaging, as steel and aluminum products are fully recyclable. However, bioplastics with higher sustainability and recyclability are expected to emerge as a major contender for metal packaging.
Europe represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 6.6% over the analysis period. Growth in the region is led by rising per capita income, higher consumer spending, and favorable lifestyle trends. Global market for rigid metal packaging made a strong comeback in 2010 from the recessionary lows of 2009 that triggered a slump in demand. Metal Cans, including food and beverage and aerosol cans, are expected to sustain their dominance in the global rigid metal packaging market in the near term. Global Industry Analysts ©
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