Rising health consciousness to drive metal packaging market growth globally

<p>According to a new market report released by Transparency Market Research (TMR), the global metal packaging market is projected to reach $150 billion by 2026. <br /><br />Metal packaging market which includes aluminium, tinplate and other lightmetal packaging segments, has witnessed significant growth over the past few years. The growth has been mainly spurred by the changing psyche of the consumers who are turning increasingly health conscious. A stark change in lifestyle is being observed globally as urban communities in major economies are leaning toward convenient yet safe preservation of edibles which include food and beverages, as well as medicines. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/beverage_can21072016.png" alt="News" width="420" height="480" />&nbsp;<br /><br />The report observes aluminium beverage cans are the most widely used type of metal packaging solutions across the globe. This has been the trend since long in developed economies of the Americas and Europe, but in recent times, developing countries too like India and other South east Asian countries are changing their food and beverage consumption pattern. Aluminium cans are being preferred over glass bottles as they are high on aesthetics and ensure infinite recyclability. <br /><br />According to the report, the metal packaging market growth is likely to be driven by two key factors. Firstly, the changing lifestyle of people around the world and secondly, rising health consciousness and awareness regarding environmental sustainability. Metal packaging solutions like aluminium beverage cans and aluminium blister foils have better barrier property. This property will result in increased use of metal packaging by pharmaceutical and personal care industries.<br /><br />On the other hand, the growth of alternative packaging like HDPE and PET bottles will also intensify R&amp;D efforts among metal packaging manufacturers to come up with further innovations. The companies are already seen spending huge amounts on developing new marketing strategies to widen their market share.<br /><br />The global metal packaging market is currently dominated by North America, on account of the highest consumption rate of canned food in the region. Europe is the second largest market, followed by Asia Pacific and Latin America. The report predicts high growth for metal packaging market in Latin America and Asia Pacific regions during the period from 2016-2026.&nbsp;</p>