The business consulting firm Grand View Research announced the addition of its “Global Metal Packaging Market Analysis And Segment Forecasts To 2022”. Nutrition retaining properties of metal packaging is one of the key factors driving the market over the forecast period. Metal packaging demand from food & beverage industry has been witnessing lucrative growth over the past few years owing to increasing application scope in food packaging including vegetables, fruits, soups, baby food, poultry and beverages packaging including carbonated soft drinks, vegetable & fruit juices, alcoholic beverages and sports drinks. Increasing canned beverages and processed food consumption is further expected to be the key factor driving the market over the forecast period.
Strong growth of end-use industries in emerging countries including India, China and Brazil is further anticipated to propel the market growth over the projected period. Increasing application scope of metal packaging in cosmetics, inks, oils, aerosol sprays & paints and other healthcare and consumer goods is further expected to drive augment the market growth over the next six years. In addition, growing environmental concerns coupled with easy recyclability of metal is one of the key factors to drive the market. However, introduction of PET bottles and HDPE in packaging industry is anticipated to hinder future metal packaging market growth.
Key players in metal packaging market include Amcor Ltd., Reynolds Group Holdings, Alcoa Inc, Ardagh Group, CPMC Holdings Ltd., Tata Steel Packaging, Sonoco Products Company, Toyo Seikan Kaisha Ltd., CCL Industries., Ball Corporation, Silgan Holdings, Rexam Plc., and Anheuser-Busch Companies Inc. Metal packaging market is concentrated in nature with few major players dominating the market. Acquisition and mergers are very common in metal packaging market, which is the key strategy implemented by major players to gain competitive advantage over others.
Ball Corporation acquired Rexam Plc to attain a powerful position in beverage packaging market. Oak Hills, a private equity firm had acquired Berlin Packaging, a North American company and supplier of metal containers and closures. MHF Services is an integrated transportation, packaging and logistics providing company had acquired Bull Run Metals, a specialty metal packaging firm in 2014.
