According to Future Market Insights (FMI), during the forecast period of 2022-2030, the market for metal containers is expected to grow at a CAGR of 5.4%. With increasing cautiousness in regard to sanitation, customers prefer metal packaging as they are airtight and eliminate the risk of tampering.
Between 2022 and 2030, the market for metal containers is anticipated to grow at a CAGR of 5.4%, reaching US$ 198.4 billion. At every level of the economy—from customers to product manufacturers to the packaging sector—the use of steel, aluminium, and tin packaging is growing. Investments fostering advancements in this field are predicted to increase as the need for healthy metal packaging is anticipated to rise. In turn, this will lead to the development of novel materials, methods, techniques, and designs that not only satisfy the demands and tastes of customers but are also environmentally beneficial.
There has been an increasing demand for metal containers due to awareness regarding the importance of sanitary packaging in the food and beverages industry. Initially used only to pack canned foods, more outlets have begun using metal containers for packaging fresh foods due to their high barrier protection and eco-friendly conditions.
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Top Key Players Covered-
- Ball Corporation,
- Ardagh Group S.A.,
- CCL Industries Inc.,
- CPMC Holdings Ltd.
- Silgan Holdings Inc.
- Grief Inc.
- Toyo Seikan Co., Ltd.
- Crown Holdings, Inc.,,
- Mauser Packaging Solutions,
- Nampak Ltd.,
- Montebello Packaging Inc.
- Balmer Lawrie & Co. Ltd.
- HUBER Packaging Group GmbH
- NCI Packaging
- Great Western Containers Inc.
Food and beverages packed using metal containers last longer and the containers are recyclable, which makes it a profitable option in the long run. Using metal containers gets rid of the need for an additional packaging because the containers are strong and durable.
KEY TAKEAWAYS
- The metal containers market is expected to grow at 5.4% CAGR from 2022-2030
- The market is projected to reach a valuation of US$ 124.9 Bn by the end of 2022
- Among product types, the intermediate bulk containers segment is projected to account for over half of the market share by the end of the forecast period
Though a decrease in market is projected in 2021-2022 due to the pandemic, rapid growth is predicted 2023 onwards.
Regarding the metal containers market, an FMI analyst said, “Many industries are taking on the Green initiative, which benefits both the environment and the society. Metal containers are beneficial for the environment because of their reusable design. For instance, when a metal container is no longer useful, it can be easily recycled and turned into another metal container. They are a great investment to have for any heavy duty storage needs and can generally be sold fast.”
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COVID-19 IMPACT ANALYSIS
The ongoing pandemic has negatively affected a lot of different sectors including the metal containers market. The decline in business of end-use industries has affected the demand and production of metal containers. The market is expected to see a downward drop during the 2020-2021 period but is projected to get back on track from 2022 onwards.
The need for well packaged items in the food and pharmaceutical industries has increased demand for metal containers. With people’s lifestyle changing to a more health and safety cautious one, the need for minimum error packages is high and will benefit the metal containers market.
Who Is Winning?
Some of the leading players in the metal containers industry are Ball Corporation, CCL Industries Inc., CPMC Holdings Ltd., Crown Holdings Inc., Mauser Packaging Solutions, Montebello Packaging Inc., HUBER Packaging Group GmbH and Great Western Containers Inc.
South and East Asia are expected to amass larger shares in the market. Increasing popularity of aluminum and tin packaging will be beneficial to the market economy. The market in Middle East and Africa is expected to grow due to the increasing use of metal containers in the chemical industry.
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Valuable Insights into Metal Containers Market
A recent study by Future Market Insights gives a detailed analysis of the metal containers market as well as assessment for the forecast period of 2022-2030. The global market is segmented in order to analyze in detail each and every aspect of the market.
The market is divided by product type as cans, drums, aerosol cans, pails, intermediate bulk containers and others. Based on the material type the market is divided into steel, aluminum and tin; and based on the end use it is divided into the food and beverage industry, chemicals, automotive, pharmaceutical and health, cosmetics and personal care, building and construction and other end use industries. Lastly the market is divided by the geographical region into North America, Latin America, Europe, Middle East and Africa, East Asia, South Asia and Oceania.
Key Segments Covered in Metal Containers Industry Research
Metal Containers Market by Product Type:
- Cans
- Drums
- Aerosol Cans
- Pails
- Intermediate Bulk Containers
- Others
Metal Containers Market by End-use:
- Food and Beverage Industry
- Chemicals
- Automotive
- Pharmaceutical & Healthcare
- Cosmetics & Personal Care
- Building & Construction
- Other End Use
Related Links –
https://www.thetechlog.com/?p=21183&preview=true
https://issuu.com/nk99/docs/insulated_bins_market_
https://www.slideshare.net/niranjankarde/insulated-bins-market-pdf
About Future Market Insights, Inc.
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