LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global metal packaging market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio analysts, the global metal packaging market will grow at a CAGR of over 3% during the forecast period. Sustainability with metal packaging is a major factor driving the growth of the global metal packaging market. Packaging helps in protecting products that are present inside it from environment influences. Also, it helps in protecting the environment from potentially dangerous products that are present in it. When compared with other packaging materials, the raw materials used for metal packaging such as aluminum or steel have the most robust global recycling infrastructure, as they are 100% recyclable and can be recycled many times in a shorter duration of time without any loss in quality of the material. Also, metal cans are lightweight, unbreakable, and provide superior product protection. The most common metals used for packaging are steel and aluminum.
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In this report, Technavio highlights the increasing demand for microwave-suitable metal packaging as one of the key emerging trends in the global metal packaging market:
Global metal packaging market: Increasing demand for microwave-suitable metal packaging
The increasing demand for sustainability and convenience from their food purchasers, the food service providers are looking for innovative solutions to attract customers both through product and packaging. Earlier, the use of electroconductive materials such as metal was not considered to be appropriate for the microwave food. However, nowadays, metallic materials such as aluminum and steel can be safely heated in the microwave owing to growing technological developments.
“Metal packaging is beneficial over the commonly used plastic alternative, as the metallic material is sustainable and can distribute heat evenly through a food item. However, metal packaging solution takes more time to heat food in microwave compared with the plastic packaging, but it is more effective than the plastic packaged container. Therefore, it could lead to an increase in adoption of metal packaging during the forecast period,” says a senior analyst at Technavio for research on packaging.
Global metal packaging market segmentation
This market research report segments the global metal packaging market into the following end users (food packaging, beverage packaging, and personal care packaging) and key regions (the Americas, APAC, and EMEA).
The food packaging segment held the largest market share in 2017, accounting for nearly 27% of the market. The market share for this application is expected to increase by 2022. The fastest growing end user is beverage packaging, which will account for nearly 25% of the total market share by 2022.
The Americas was the leading region for the global metal packaging market in 2017, accounting for a market share of nearly 38%. By 2022, APAC is expected to register the highest growth.
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