A report by Market and Business Development reveals that more sophisticated closure systems with easy opening and resealing systems are helping to increase unit values. Between 2001 and 2005 annual growth is forecast at 2% each year, taking market value up to £1647.3M.
The steel food cans sector also looks set for growth rising by 8% to £627.7M by 2005. Market conditions may be hindered by the maturity of the canned foods sector, warns the report. Although stagnancy could be staved off by continued innovation in can designs.
Meanwhile, light metal packaging’s strongest rival, the plastics packaging sector, continues to compete in an increasing range of markets. This reflects sustained product innovation and development in the plastics industry with improvements in material performances, particularly in areas such as carbonated drinks packaging.
The UK light metal packaging market development report is available from MBD. Tel: +44 (0)161 247 8600.