Decoration and sustainability to boost outlook for metal packaging
Five technology innovations and trends are creating new value in metal packaging, making it a more attractive option for consumers and manufacturers.
According to The Future of Metal Packaging and Coatings to 2023, the global metal packaging and coatings market is valued at almost $105.5 billion in 2018. Total value is forecast to increase at 1.6% year-on-year to 2023, pushing overall value to $114.4 billion.
Much of this figure can be attributed to beverage cans that continue to dominate the market, holding a share of almost 45%. Although global demand for beverage cans has been affected by falling sales of many forms of carbonated drinks, it has also benefited from the surging popularity of energy drinks and craft beer. Future growth in demand is likely to come from other sectors of the beverages industry, such as packaged water, wine and RTD (ready-to-drink) tea and coffee drinks.
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