Light metal packaging: Key market research findings
- EMEA dominates the market geographically
- Caps, stoppers, lids, and other packing accessories account for a majority of the market’s revenue
- Key vendors – Ardagh Packaging Holdings, Ball, Crown Holdings, Grief, and Rexam
Technavio’s market research analysts predict the global market for light metal packaging to grow at a CAGR of over 2% between 2016 and 2020. The growing popularity of packaged food products and beverages globally is spurring an upsurge in the demand for light metal packaging. Consumers demand food products that are not just convenient and of high value and quality, but have a longer shelf-life, retain their freshness for longer periods of time, and are packaged well. This increase in the demand for packaged food products and beverages is, in turn, spurring sales of lightweight containers that are used to pack foods and beverages. The global light metal packaging market was dominated by EMEA in 2015, which accounted for more than 36% of the overall market share. The increasing demand from the food and beverages sector will contribute to the growth of the light metal packaging in EMEA during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of light metal packaging segments based on the products.
“Packaging is being increasingly used as a marketing tool as it helps create product differentiation. While purchasing packaged goods like cosmetics, toiletries, and food products, consumers are attracted to products that are aesthetically pleasing, thus, leading to brand loyalty. As a result, manufacturers of food and other packaged products are spending large sums of money on developing not just convenient-to-use and open packages, but also visually appealing packages for their products,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
During 2015, the caps, stoppers, lids, and other packing accessories accounted for almost 48% of the overall market share to become the key revenue generating vertical of the global market. Light caps, stoppers, lids, and other packing accessories are made of chemical elements like aluminum, magnesium, and titanium. Packaging products made of aluminum are used for food and beverage products such as spices, pickles, and drinks. The advantages of aluminum packaging over other metal packaging are that it is lightweight, chemically inert, impermeable, and corrosion-resistant.
The prominent players in the global light metal packaging market include Ardagh Packaging Holdings, Ball, Crown Holdings, Grief, and Rexam. The current market includes companies who are specialized than others with respect to particular commodities, including access to greater financial resources and ability to operate in multiple packaging segments that range from industrial packaging to consumer packaging. Others are limited to a subset of consumer goods, such as food packaging or consumer durables packaging.
A more detailed analysis is available in the Technavio report, Global Light Metal Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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