The metal packaging market is experiencing significant growth across various sectors, including food and beverage, personal care, healthcare, domestic & consumer, and industrial. This growth is primarily driven by the increasing demand for sustainable and recyclable packaging options.
One of the main factors contributing to this trend is the need for long-term preservation of human civilization, which can be achieved through the use of metal packaging. Metals have the advantage of being indefinitely recyclable, reducing resource waste and promoting environmental sustainability.
In 2021, the demand for metal packaging was estimated at US$ 121 billion, and it is projected to reach US$ 178 billion by 2032, with a compound annual growth rate (CAGR) of 3.6%.
Metals such as aluminum are particularly suitable for packaging due to their ease of sterilization, high tensile strength, and excellent barrier protection. Metal cans have been the most popular type of metal packaging historically, thanks to their wide availability and ease of use.
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The demand for compact and multi-pack packaging formats is expected to increase, driving the need for metal cans. In particular, there has been a surge in demand for mini-cans, especially in China, India, and Japan. These smaller-sized cans offer convenience and affordability compared to regular-sized canned goods, making them popular among beverage companies in these regions.
The recyclability of metal packaging is a significant driver for the global market. Steel and aluminum are the two most reliable materials for packaging due to their superior recycling infrastructure. The ability to recycle metal packaging plays a crucial role in reducing waste and promoting a circular economy.
Overall, the rising demand for sustainable and recyclable packaging solutions, along with the advantages of metal packaging such as recyclability and durability, are fueling the rapid growth of the metal packaging market.
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.
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
