Pune, India, July 11, 2023 (GLOBE NEWSWIRE) -- The global metal packaging market size was valued at USD 143.06 billion in 2022 and is projected to grow from USD 146.70 billion in 2023 to USD 181.49 billion by 2030, exhibiting a CAGR of 3.09% during the forecast period.
Metal packaging is the packaging solution offered to varied end-use industries with the usage of aluminum and steel. The properties such as recyclability, high density, mechanical durability, toughness, and high thermal conductivity improve its use in various applications. Metal packaging helps to restrict sunlight and keeps the product safe; hence, an increase in demand is anticipated to drive market growth.
Fortune Business Insights™ mentioned this in a report titled “Metal Packaging Market, 2023-2030.”
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List of Key Players Present in the Metal Packaging Market Report:
- Ball Corporation (U.S.)
- Crown Holdings Inc. (U.S.)
- Silgan Holdings (U.S.)
- Amcor Limited (Australia)
- Ardagh Group SA (Europe)
- Tata Steel (India)
- Toyo Seikan Group Holdings Inc. (Japan)
- Grief Incorporated (U.S.)
- Ton Yi Industrial (China)
- Can-Pack SA (Netherlands)
- CCL Containers (U.S.)
- Sonoco Products Company (U.S.)
- Mauser Packaging Solutions (U.S.)
- Tubex GmbH (Germany)
- DS Containers Inc. (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 3.09% |
| 2030 Value Projection | USD 181.49 Billion |
| Market Size in 2022 | USD 143.06 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 220 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Metal Packaging Market Growth Drivers | 0.5 mm to Lead as it Provides Optimum Performance |
| Increasing Demand from Various End-use Industries to Propel the Product Demand |
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Segments-
Aluminum Dominates the Market Share Owing to Significant Benefits of the Material
On the basis of material, the market is divided into steel and aluminum. Aluminum dominates the market share. The material consists of properties, such as corrosion-resistant, lightweight, and non-toxic, which increase its usage in several end-use industries. Thus, these factors are expected to propel the metal packaging market growth.
Containers & Cans Segment Holds the Highest Share Due to their High Usage in FMCG Products
According to product type, the market is segregated into containers & cans, bottles & jars, caps & closures, tins, barrels & drums, and others. The containers & cans segment leads the market owing to the surge in demand from end-use industries such as personal care, food and beverages, and household due to their recyclable and versatile properties.
Food & Beverages Leads the Market Owing to Increasing Demand for Metal Packaging in the Food Industry
As per end user, the market is segmented into food & beverages, personal care & cosmetics, pharmaceuticals, paints & varnishes, household, and others. The increasing demand for packaged and processed food products due to the changing lifestyle trends is the key factor propelling the growth of the food & beverages segment.
Geographically, the market is analyzed across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Report Coverage-
The report offers:
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- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints-
Increasing Demand for Metal Packaging in Varied Industries Foster the Market Growth
Metal packaging is broadly used in many industries such as personal care & cosmetics, consumer goods, food & beverages, and pharmaceuticals. Rapid growth and demand in these industries are predicted to propel market growth. Due to their longer shelf-life, the extensive use of metals such as aluminum and steel for packaging food & beverage products also fosters global market growth.
Steel has very poor chemical stability, low resistance to acid and alkali, and is easily prone to rust. Metal packaging is quite expensive than other packaging materials, so the overall production cost is higher, which is expected to restrict market growth.
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Regional Insights-
North America to Dominate the Market Share During the Forecast Period
The largest metal packaging market share is held by North America. The huge reliance on energy drinks and goods canned in the U.S. also contributes to the rising demand for metal packaging in the North America region.
Asia Pacific led the market growth, followed by North America. The growth is credited to the rapid expansion of the steel industry in the region over the last 10 years.
China is the biggest steel producer, thus contributing to market growth. Europe is a rapidly-growing region due to the rising use of metal cans consisting of alcoholic and non-alcoholic beverages, the growing household, cosmetics industries, personal care, and processed foods.
Competitive Landscape-
Prominent Players in the Market Witness Noteworthy Growth Opportunities
Key players in the market include Crown Holdings, Ardagh Group, Ball Corporation, Silgan Holdings, Amcor Limited, and others. Numerous other players operating in the industry are focused on providing advanced packaging solutions.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Metal Packaging Market
- Global Metal Packaging Market Analysis (USD Billion), Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Aluminium
- Steel
- Market Analysis, Insights and Forecast – By Product Type
- Containers & Cans
- Bottles & Jars
- Caps & Closures
- Tins
- Barrels & Drums
- Others
- Market Analysis, Insights and Forecast – By End Use
- Food & Beverages
- Personal Care & Cosmetics
- Pharmaceuticals
- Paints & Varnishes
- Household
- Others
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued...!
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Key Industry Development-
March 2020 - Ball Corporation introduced a new extruded aluminum bottle line which is said to offer a circular solution to plastic pollution. The bottle is available in several shapes and sizes, and can be easily customized for various personal care, beauty, and food & beverage products.
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