Canned Food Packaging Market to grow at a 4 01% CAGR | Market Research Future (MRFR) einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.
Asia Pacific
dominates the global canned food packaging market. The largest market share attributes to changing consumer buying patterns of more packaged foods in developing economies like India and China. Besides, the easy availability of ample raw materials and cost-competitive labor forces is a major factor benefitting the regional market.
Moreover, inclination towards long shelf-life and low product prices fuel the canned food packaging market in the region.
Demand for beverages, continuing with an upward trend toward low-cost alternatives for chilled beverages and frozen meat, boosts the region s market share. Changing lifestyles and the increasing purchasing power define the growing landscape of the regional market.
BIS standards wreak havoc in metal packaging industry
April 16, 2021
Foreign suppliers unable to get certification due to Covid-19 restrictions leading to raw material crunch
Metal packaging manufacturers are crying hoarse as the industry approaches the April 17 launch of official BIS standards on key raw materials tinplate and tin-free steel.
Foreign suppliers have not been able to obtain certification due to restrictions amid Covid-19, leading to a shortage of raw material in the import-dependent industry that has an annual turnover of ₹10,000 crore, according to Metal Container Manufacturers’ Association (MCMA) industry group.
Prices rise
Due to the shortage, domestic manufacturers JSW Steel and Tata Group’s Tinplate Company of India Ltd have jacked up prices, MCMA President Sanjay Bhatia told
Metal packaging industry may face an acute shortage of raw material: MCMA
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Synopsis
The metal packaging industry in India is facing hurdles in securing its raw material, tinplate and tin-free steel due to the imposition of BIS Standards at a time when countries are witnessing travel restrictions due to the viral pandemic.
The metal packaging industry in India is facing hurdles in securing its raw material, tinplate and tin-free steel due to the imposition of BIS Standards at a time when countries are witnessing travel restrictions due to the viral pandemic. “There is going to be an acute shortage of raw material as the global players have refused to accept their orders to provide tinplate/tin-free steel while the domestic market is not so equipped to fulfil the demand,” said the Metal Containers Manufacturers Association of India (MCMA) in a statement on Monday.