The use of metal packaging solutions in the food and beverage, personal care, healthcare, domestic & consumer, and industrial sectors is on the rise, which is driving the market for metal packaging.
One of the key factors propelling the business is the demand for metal packaging, which is essential for the long-term survival of human civilization. Metal’s permanency allows it to maintain its qualities via infinite recycling, cutting down on resource waste.
Demand for metal packaging was estimated to be at US$ 121 billion in 2021, and it is anticipated to rise by US$ 178 billion by 2032, at a CAGR of 3.6%.
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For use in packaging, metals like aluminium can be sterilised rather easily. It is a good option for packing materials due to its high tensile strength and excellent barrier protection. Cans have historically been the most popular type of metal packaging.
Metal cans have been used in a variety of packaging applications because they are readily available and simple to utilise. The desire for compact and multi-pack package forms will increase the need for metal cans.
Mini-can demand has surged, particularly in China, India, and Japan. Since micro cans usually feature smaller serving sizes and are less expensive than regular tinned goods, the majority of beverage companies in the area offer them.
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The ability of metal packaging to be recycled is going to be one of the key drivers driving the global market for metal packaging over the predicted time period. Due to their superior recycling infrastructure, steel and aluminium are the two materials that are most reliable for use in packaging.
Key Takeaways from Metal Packaging Market
- Aluminium is the most used material segment for manufacturing metal packaging segment, and it holds a market share of almost 53% of the metal packaging market.
- Cans packaging segment will witness growth at a CAGR of 2.8% in the forecast period.
- The food and beverages segment is projected to foresee a remarkable CAGR 2.9% over the forecast period. Food and beverages market continues to grow rapidly, surpassing US$ 60.7 Bn in 2032.
- North America accounts for a substantial portion of the metal packaging market over the forecast period on the back of strict government rules and requirements.
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Competitive Landscape
With presence of several local and regional competitors, the worldwide metal packaging market is extremely fragmented and competitive. Key players use a variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.
Leading competitors in the metal packaging market include Ball Corporation, Crown Holdings, Silgan Holdings, Ardagh Group, CPMC Holdings Ltd. Amcor Limited, Alcoa Corporation, Manaksia, Tata Steel Limited, Rexam plc, Greif, Inc. and Toyo Seikan Group Holdings, Ltd.
For instance,
In May 2022, Ardagh’s expanding geographic footprint and revenue growth are due to innovative metal product designs such as aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food, and other specialty cans that are gaining traction with the metal packaging company’s target consumers.
In March 2022, Virospack has introduced child resistant metal shell dropper bottles for storage of cosmetics and personal care products. The company is planning to expand its product portfolio by adding wide range of droppers with glossy, elegant, and premium finished packaging.
Key Players:
- Ball Corporation
- Crown Holdings
- Silgan Holdings
- Ardagh Group
- CPMC Holdings Ltd.
Metal packaging market by Category
By Material Type:
- Aluminium Metal Packaging
- Steel Metal Packaging
- Others
By End Use:
- Food & Beverages
- Personal Care
- Healthcare
- Household & Consumer
- Industrial
By Packaging type:
- Cans
- Drums & Pails
- Aerosols
- Tubes & Lids
- Barrels
- Trays & Foils
- Caps & Closure
- Bottles & Jars
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