Metal Packaging Market Set for Steady Growth: Anticipated to Reach US$ 178 Billion by 2032 with 3.6% CAGR

The metal packaging market is witnessing significant growth across various sectors, including food and beverage, personal care, healthcare, domestic & consumer, and industrial. This growth is primarily fueled by the increasing demand for sustainable and recyclable packaging options.

A major contributing factor to this trend is the global focus on long-term environmental preservation and sustainability, which can be achieved through the use of metal packaging. Metals offer the advantage of indefinite recyclability, reducing resource waste and promoting environmental responsibility.

In 2021, the market demand for metal packaging reached a value of US$121 billion, and it is projected to further grow to US$178 billion by 2032, with a compound annual growth rate (CAGR) of 3.6%.

Metals, particularly aluminum, prove to be well-suited for packaging due to their ease of sterilization, high tensile strength, and excellent barrier protection. Among various types of metal packaging, metal cans have gained widespread adoption due to their availability and user-friendly nature.

The demand for compact and multi-pack packaging formats is expected to rise, driving the need for metal cans. Mini-cans, especially in China, India, and Japan, have experienced a surge in demand, offering convenience and affordability that beverage companies in these regions find appealing.

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The recyclability of metal packaging is a significant driver for the global market. Steel and aluminum, in particular, have well-established recycling infrastructure, making them highly recyclable materials for packaging. This recyclability plays a crucial role in waste reduction and promotes a circular economy, aligning with the growing environmental consciousness among consumers and industries

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.

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.

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Country-wise Insights

China’s Steel Production Boosts Metal Packaging Market China’s rapid expansion in steel production has positively impacted the metal packaging market. With China being the leading producer of steel globally, its crude steel production increased by 5.2% in 2020. This growth, driven by the recovery of the construction and manufacturing industries, has had a significant impact on the metal packaging market. Factors such as easy access to raw materials, low production costs, and abundant resources have contributed to China’s metal packaging market surpassing the U.S. market in the near future.

U.S. Market Driven by Increasing Use of Canned Food Products The U.S. metal packaging market is the second-largest globally, with over 20% market share. The country’s market growth is fueled by the changing lifestyle and consumer preference for packaged goods. The reliance on canned food products and beverages has made the U.S. a significant contributor to the North American metal packaging industry. With a rising number of consumer product manufacturers and packaged goods makers, the U.S. holds a significant share in the metal packaging sector. The market is projected to grow at a CAGR of 2.7% and exceed $36.6 billion by 2032

Key Players:

• Ball Corporation
• Crown Holdings
• Silgan Holdings
• Ardagh Group
• CPMC Holdings Ltd.

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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