NEWARK, DEL, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The global metal packaging market size is poised to cross US$ 124.9 billion in 2023 and is likely to attain a valuation of US$ 239.4 billion by 2033. The metal packaging market share is projected to rise at a CAGR of 5.90% from 2023 to 2033.
Safety is critical, especially for goods that potentially endanger children. Child-resistant packaging in the metal packaging industry is becoming increasingly popular, particularly in businesses such as medicines, cannabis, and home chemicals. These specific closures and mechanisms are intended to keep youngsters out, assuring product safety and regulatory compliance. Child-resistant metal packaging allows brands to present themselves as responsible and safety-conscious, appealing to both customers and regulators.
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Sustainability is still an ongoing concern, a notable trend involving employing eco-friendly inks and coatings in metal packaging. These sustainable solutions are made from renewable materials, reducing environmental impact. Brands that use these inks and coatings correspond with sustainability goals and appeal to environmentally concerned customers. This can increase brand impression, consumer loyalty, and a rising customer base interested in eco-friendly products and packaging.
As the global population ages, businesses are responding to this demographic trend by adopting packaging that satisfies the demands of older consumers. Easy-open mechanisms, bigger and clearer labeling, and ergonomic designs can improve the user experience for senior clients. Companies that follow this trend serve a growing part of the population, displaying their dedication to diversity and accessibility.
Key Takeaways from the Metal Packaging Market Report:
- In 2018, the global market size stood at US$ 105.4 billion
- The market size expanded at a 2.7% CAGR from 2018 to 2022.
- In 2022, the global market size stood at US$ 117.7 billion.
- The cans segment captured 33.6% of market shares in 2023.
- The food & beverages segment occupied 40.3% of market shares in 2023.
- The market size in India will rise at an 8.2% CAGR through 2033.
- The market size in Germany will surge at a 4.1% CAGR through 2033.
- The market size in the United Kingdom will rise at a 6.1% CAGR through 2033.
- The market size in Canada will develop at a 5.5% CAGR through 2033.
- The market size in China will increase at a 7.4% CAGR through 2033.
"In the constantly changing landscape of the metal packaging market, innovation and sustainability have emerged as driving forces reshaping the industry's trajectory. The market is no longer characterized exclusively by its traditional function of delivering safe and efficient containers. Instead, it has transformed, with a slew of new technologies prepared to push its frontiers,” opines Ismail Sutaria, Principal consultant at Future Market Insights
Metal Packaging Market Outlook (2023 to 2033)
| Attribute | Details | |
| Metal Packaging Market Size, 2022 | US$ 117.7 billion | |
| Metal Packaging Products Market Size, 2023 | US$ 124.9 billion | |
| Metal Packaging Products Market Size, 2033 | US$ 239.4 billion | |
| Value CAGR (2023 to 2033) | 5.90% | |
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Key Players in the Metal Packaging Market:
- Ball Corporation
- Crown Holdings
- Silgan Holdings
- Ardagh Group
- CPMC Holdings Ltd
- Amcor Limited, Alcoa Corporation
- Manaksia
- Tata Steel Limited
- Rexam Plc
- Greif Inc
- Toyo Seikan Group Holdings Ltd
Recent Developments Observed by FMI:
- Eviosys unveiled Horizon, a brand-new ultra-light shallow metal overcap for tins, during London Packaging Week 2023 in September 2023. The new metal lid is an industry first, providing the dry food industry with an eternally recyclable packaging option for the whole can, which was previously dominated by plastic. Eviosys' technologies continue to assist brands in moving toward a more sustainable future.
- Ecopeel, the next invention from Eviosys, was launched in January 2023. A processable food can with a sleek, peelable foil immediately sealed on the can body has evolved from two hundred years of expertise and development. Ecopeel was designed with the goals of sustainability, convenience, and inclusivity in mind. Ecopeel is lighter and reduces carbon emissions by 20% per can by replacing the traditional ring-pull with foil.
Metal Packaging Market Segmentation:
By Material Type:
- Aluminum
- Steel
- Others
By End Use:
- Food & Beverages
- Personal Care
- Healthcare
- Household & Consumer
- Industrial
By Product Type:
- Cans
- Drums & Pails
- Aerosols
- Tubes & Lids
- Barrels
- Trays & Foils
- Caps & Closure
- Bottles & Jars
- IBCs
- Pallets
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Explore Trending Reports of Packaging:
Metal Aerosol Packaging Market Size: The global metal aerosol packaging market is anticipated to accumulate a market value of US$ 7.38 billion in 2023 and is expected to garner a valuation of US$ 12.6 billion by exhibiting a CAGR of 5.4% in the forecast period 2023 to 2033.
Next Generation Packaging Market Share: The global next generation packaging market is on track to achieve a market valuation of US$ 12,847.9 million by 2023. Demand is set to gain momentum at a projected CAGR of 6.43% from 2023 to 2033. The market is expected to reach US$ 23,952.9 million by 2033.
Personalized Packaging Market Trends: The personalized packaging market is projected to have a significant CAGR of 5.28% by 2033. According to FMI, the market is expected to expand from US$ 36.10 billion in 2023 to US$ 60.39 billion by 2033.
Metalized Barrier Film Packaging Market Overview: The metalized barrier film packaging market is sustained by the flexible packaging market. Flexible packaging market is estimated to be about US$ 238 Bn and is anticipated to grow at a CAGR of 5.2% over the forecast period.
Beverage Packaging Market Outlook: The global beverage packaging market is expected to be worth US$ 164 billion by 2033, exhibiting a CAGR of 4.2%. In 2023, the market is anticipated to be valued at US$ 108.7 billion.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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