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(USGovernment-News.Com, June 20, 2018 ) Woodridge, USA Jun 2018(News) - Metal packaging is a process of protecting the products using materials such as aluminum and steel for storage, distribution, sale, and use. This packaging is used in various industries such as food & beverages, pharmaceuticals, chemicals, and personal care. The demand for the metal packaging has witnessed strong growth over the last few years due to increasing disposable income and changing consumer preferences.
According to the MRFR analysis, the Global Metal Packaging Market is growing at a rapid pace and is expected to gain a significant momentum over the forecast period. The global metal packaging market is estimated to grow at a CAGR of 3.29% during the estimated period, 2017-2022.
The metal packaging market is compelled by various factors such as increased consumption of packed foods & beverages. According to beverage can makers, the energy drink category remains to be a vital driver for soft drink cans. The European market for energy drinks increased in size by 6% in 2015, and now nearly 2 in every 3 liters of energy drinks are sold in cans. Increase in demand for food has triggered the metal can manufacturers to invest in design and manufacturing technologies, which aids in offering metal cans with improved functional and storage features, have also been a key factor triggering the growth in the soft drinks end-use sector.
Key Players:
• The prominent players in the metal packaging include Amcor Ltd.
In April 2016, Ball Corporation completed the acquisition of Rexam PLC. The acquisition aims at supplying innovative, sustainable packaging solutions for food & beverage, household products, and other technologies & services.
Ball Corporation, in association with Henkel, has launched a lightweight aluminum aerosol can for the brand, Beauty Care. According to the partnership agreement, Henkel will utilize Ball Corporation's lighter weight real technology, which will help in increasing the strength and at the same time will reduce the weight of the can without affecting the package integrity.
Hence, the global metal packaging market is expected to reach at USD 136,137.5 million by the end of the forecast period at CAGR of 3.29%.
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