Metal Container Market Sees Impressive Growth Backed by Surging Need for Safer Packaging: FMI
There has been an increasing demand for metal containers due to the awareness regarding the importance of sanitary packaging in the food and beverages industry. Initially used only to pack canned foods, more outlets have begun using metal containers for packaging fresh foods due to their high barrier protection and ecofriendly conditions.
Metal Containers Market
A recent market report published by FMI on the metal container market provides global indu...
According to Future Market Insights (FMI), during the forecast period of 2020-2030, the market for metal containers is expected to grow at a CAGR of 6%. With increasing cautiousness in regards to sanitation, customers prefer metal packaging as they are airtight and eliminate the risk of tampering.
Food and beverages packed using metal containers last longer and the containers are recyclable, which makes it a profitable option in the long run. Using metal containers gets rid of the need for an additional packaging because the containers are strong and durable.
- The metal containers market is expected to grow at 6% CAGR from 2020-2030
- The market is projected to reach a valuation of $10 billion by the end of 2020
- Among product types, the intermediate bulk containers segment is projected to account for over half of the market share by the end of the forecast period
Though a decrease in market is projected in 2020-2021 due to the pandemic, rapid growth is predicted 2022 onwards.
Regarding the metal containers market, an FMI analyst said, “Many industries are taking on the Green initiative, which benefits both the environment and the society. Metal containers are beneficial for the environment because of their reusable design. For instance, when a metal container is no longer useful, it can be easily recycled and turned into another metal container. They are a great investment to have for any heavy duty storage needs and can generally be sold fast.”
COVID-19 IMPACT ANALYSIS
The ongoing pandemic has negatively affected a lot of different sectors including the metal containers market. The decline in business of end-use industries has affected the demand and production of metal containers. The market is expected to see a downward drop during the 2020-2021 period but is projected to get back on track from 2022 onwards.
The need for well packaged items in the food and pharmaceutical industries has increased demand for metal containers. With people's lifestyle changing to a more health and safety cautious one, the need for minimum error packages is high and will benefit the metal containers market.
Who Is Winning?
Some of the leading players in the metal containers industry are Ball Corporation, CCL Industries Inc., CPMC Holdings Ltd., Crown Holdings Inc., Mauser Packaging Solutions, Montebello Packaging Inc., HUBER Packaging Group GmbH and Great Western Containers Inc.
South and East Asia are expected to amass larger shares in the market. Increasing popularity of aluminum and tin packaging will be beneficial to the market economy. The market in Middle East and Africa is expected to grow due to the increasing use of metal containers in the chemical industry.
Valuable Insights into Metal Containers Market
A recent study by Future Market Insights gives a detailed analysis of the metal containers market as well as assessment for the forecast period of 2020-2030. The global market is segmented in order to analyze in detail each and every aspect of the market.
The market is divided by product type as cans, drums, aerosol cans, pails, intermediate bulk containers and others. Based on the material type the market is divided into steel, aluminum and tin; and based on the end use it is divided into the food and beverage industry, chemicals, automotive, pharmaceutical and health, cosmetics and personal care, building and construction and other end use industries. Lastly the market is divided by the geographical region into North America, Latin America, Europe, Middle East and Africa, East Asia, South Asia and Oceania.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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