The global metal packaging market is a significant sector of the packaging industry, and it is expected to grow in the coming years. Metal packaging includes containers, cans, boxes, tubes, and other forms of packaging made of various types of metals such as aluminum, steel, and tinplate. These metal containers are used for packaging a wide range of products such as food, beverages, personal care, pharmaceuticals, chemicals, and others. Metal packaging demand was valued at roughly USD 121 Billion in 2021 and is expected to expand at a CAGR of 3.6% to USD 178 Billion by 2032.
Metal packaging plays a pivotal role in various industries, including food and beverage, pharmaceuticals, and personal care. Known for its durability, sustainability, and ability to preserve products effectively, metal packaging has become increasingly popular globally. This PR explores the current trends, growth drivers, and future prospects within the metal packaging market.
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Key Takeaways from the Metal Packaging Market Report:
- In 2018, the global market size stood at US$ 105.4 billion
- The market size expanded at a 2.7% CAGR from 2018 to 2022.
- In 2022, the global market size stood at US$ 117.7 billion.
- The cans segment captured 33.6% of market shares in 2023.
- The food & beverages segment occupied 40.3% of market shares in 2023.
- The market size in India will rise at an 8.2% CAGR through 2033.
- The market size in Germany will surge at a 4.1% CAGR through 2033.
- The market size in the United Kingdom will rise at a 6.1% CAGR through 2033.
- The market size in Canada will develop at a 5.5% CAGR through 2033.
- The market size in China will increase at a 7.4% CAGR through 2033.
“In the constantly changing landscape of the metal packaging market, innovation and sustainability have emerged as driving forces reshaping the industry’s trajectory. The market is no longer characterized exclusively by its traditional function of delivering safe and efficient containers. Instead, it has transformed, with a slew of new technologies prepared to push its frontiers,” – opines Ismail Sutaria, Principal consultant at Future Market Insights
One of the primary drivers of the metal packaging market is its durability and strength. Metal packaging is much more durable and long-lasting than other forms of packaging, such as plastic or paper. This makes it ideal for packaging products that need to be stored for long periods or require a high level of protection, such as food or pharmaceuticals. Metal packaging also has high resistance to temperature, light, and moisture, which helps maintain the quality and freshness of the packaged products.
Another advantage of metal packaging is its ability to be recycled. Metal is one of the few materials that can be recycled indefinitely without losing its properties, making it an environmentally friendly option. This is a crucial factor in today’s world, where environmental concerns are becoming increasingly important.
The food and beverage industry is the largest consumer of metal packaging. Metal cans and containers are used extensively for packaging food and beverages, including soft drinks, beer, canned food, and infant formula. The healthcare industry is also a significant consumer of metal packaging, as metal containers are commonly used for packaging pharmaceuticals, medical devices, and other healthcare products.
The Asia-Pacific region is the largest market for metal packaging, with China and India being the major consumers. The region’s large population, growing middle class, and increasing disposable incomes are driving the demand for metal packaging. North America and Europe are also significant markets for metal packaging due to the presence of large food and beverage companies in these regions.
In recent years, there has been a trend towards lightweighting in the metal packaging industry. This involves using thinner metal sheets to create packaging that is lighter and more cost-effective while still maintaining the necessary strength and durability. Lightweighting has become a popular option for companies looking to reduce their packaging costs while maintaining the quality of their products.
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.
Key Players in the Metal Packaging Market:
- Ball Corporation
- Crown Holdings
- Silgan Holdings
- Ardagh Group
- CPMC Holdings Ltd
- Amcor Limited, Alcoa Corporation
- Manaksia
- Tata Steel Limited
- Rexam Plc
- Greif Inc
- Toyo Seikan Group Holdings Ltd
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Recent Developments Observed by FMI:
- Eviosys unveiled Horizon, a brand-new ultra-light shallow metal overcap for tins, during London Packaging Week 2023 in September 2023. The new metal lid is an industry first, providing the dry food industry with an eternally recyclable packaging option for the whole can, which was previously dominated by plastic. Eviosys’ technologies continue to assist brands in moving toward a more sustainable future.
- Ecopeel, the next invention from Eviosys, was launched in January 2023. A processable food can with a sleek, peelable foil immediately sealed on the can body has evolved from two hundred years of expertise and development. Ecopeel was designed with the goals of sustainability, convenience, and inclusivity in mind. Ecopeel is lighter and reduces carbon emissions by 20% per can by replacing the traditional ring-pull with foil.
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
- IBCs
- Pallets
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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