The metal packaging market is experiencing significant growth across various sectors such as food and beverage, personal care, healthcare, domestic & consumer, and industrial. The demand for sustainable and recyclable packaging solutions is driving the rapid expansion of the metal packaging market.
Metal packaging is crucial for the long-term sustainability of human civilization due to its inherent permanency and the ability for infinite recycling, which helps reduce resource waste. In 2021, the market for metal packaging was valued at around US$121 billion, and it is projected to reach US$178 billion by 2032, growing at a compound annual growth rate (CAGR) of 3.6%.
Metals like aluminium are highly suitable for packaging as they can be easily sterilized and offer excellent barrier protection with high tensile strength. Metal cans, particularly aluminium cans, have been widely used in various packaging applications. They are readily available and easy to use, making them a popular choice.
There is a growing demand for compact and multi-pack packaging formats, which will further drive the need for metal cans. The demand for mini-cans, especially in China, India, and Japan, has increased. Beverage companies in these regions often offer micro cans with smaller serving sizes and lower costs compared to regular-sized cans.
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The recyclability of metal packaging is expected to be a major driver for the global market. Steel and aluminium are the most reliable materials for packaging due to their superior recycling infrastructure. The ability to recycle metal packaging aligns with the growing emphasis on sustainability and circular economy principles.
In summary, the metal packaging market is experiencing significant growth due to increased demand for sustainable and recyclable packaging solutions. The ability of metal packaging to be sterilized, its excellent barrier protection properties, and its recyclability make it a preferred choice for various industries. As the demand for compact packaging and sustainable solutions continues to rise, the market for metal packaging is expected to expand further.
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.
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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
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