Global Metal Packaging Market Insights, Trends, Driving Factors, Focus Points, Potential Markets, Developments, Company Share Analysis, and Forecast 2019 – 2028

Metal Packaging Market Report includes Size, Regional Market Shares, Trends, Drivers, and Internal and External Threats. The metal packaging market is estimated to register a notable CAGR in terms of revenue over the 10-year period (2019–2028).

The global metal packaging market report has been segmented on the basis of material type, product type, application, and region.

Metal Packaging Market: Overview

The Metal Packaging Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.

Metal packaging, made using either aluminum or steel, is a smart packaging solution used in various industrial verticals, wholesale and retail sectors, and other commercial sectors.

Metal Packaging helps to protect and preserve the products from getting spoilt, with a proven safety and sustainability record. In comparison with other materials, steel and aluminum-based metal packaging is being considered more environment-friendly.

Also, these raw materials are 100% recyclable and offer multi-recyclable characteristics with minimal or no loss of packaging material quality.

These two raw materials can be used to manufacture packaging of a variety of sizes, shapes, and hence can be used in various industries including food & beverages, pharmaceuticals, chemicals, and personal care products, among others.

Driving, Hindering, and Trending Forces, and Their Impact on Market Growth

Metal material-based packaging has properties that help to easily get molded and shaped using modern techniques and by adopting advanced machines in order to produce easy-to-open lids, and a variety of surface designs, with higher tightness and solidity.

This is among the major drivers of the global metal packaging market.

Rapidly growing demand for canned food, ready-to-eat food, and carbonated and non-carbonated drinks is expected to have a positive impact on the target market significantly.

In addition, the rising adoption of drums & barrels by various industries such as paints and coatings, and chemical industries is expected to boost the growth of the global metal packaging market.

However, increasing environmental concerns regarding the recycling of metal materials and the adoption of high-density polyethylene (HDPE) and Polyethylene terephthalate (PET) bottles are factors that could challenge the revenue growth of the global market.

The key trend observed in the global metal packaging market is that the manufacturers are focusing on the development and production of re-closable cans and microwave-suitable containers in order to meet consumer demands with regard to the metal packaging and sustain in the global market.

In addition to that, various manufacturers are focusing on decreasing wall thicknesses and adopting environment-friendly and cost-efficient coatings.

Metal Packaging Market Segment Analysis:

By Material Type:

Among the material type segments, aluminum is the most preferred metal used for packaging as aluminum is lightweight and flexible, and enables the production of various shapes and sizes of packaging.

Due to these factors, the aluminum segment is estimated to account for the largest share in terms of revenue in the target market.

By Product Type:

Among product types mentioned below, the cans and the drums & barrels segments are anticipated to hold a dominant position in terms of revenue share in the global metal packaging market.

The segment is expected to account for a notable growth rate in the target market.

By Application:

Among the application segments, the food & beverages segment is projected to witness the highest growth rate over the next 10 years, owing to the rapidly growing food & beverages industry across the globe, coupled with the rising need for metal packaging for canned food products and drinks.

The pharmaceuticals segment is estimated to grow at a CAGR of X.X % over the next 10 years, due to the increasing global number of patients with certain kinds of diseases or disorders, coupled with an ever-increasing need for pharmaceuticals used for treatment.

Analysis by Region:

The North American market accounted for the largest share in the global metal packaging market in terms of revenue, owing to the strong presence of various end-use industries such as food & beverage and pharmaceutical industries in the countries in the region.

In addition, factors such as rising preference for packed food, ready-to-eat food, and alcoholic and non-alcoholic beverages, combined with the need for lightweight and easy-to-dispose packaging have significantly resulted in demand for metal packaging, thus driving the NA market growth.

The Europe market is expected to account for the second-largest revenue share in the global market, due to increasing dependency on canned food, rising consumption of canned alcoholic beverages, and the presence of major metal packaging players in the region.

The Asia Pacific metal packaging market is projected to grow at a substantial CAGR owing to growing industrialization in countries such as India, China, and Japan, resulting in increasing demand for bulk metal containers such as barrels and drums.

Additionally, rising investments in technological advancements in metal packaging are expected to create growth opportunities for players in the APAC market in the years to come.

Global Metal Packaging Market Segmentation:

Segmentation by Material Type:

• Steel
• Aluminum

Segmentation by Product Type:

• Cans
• Drums & Barrels
• Caps & Closures
• Others

Segmentation by Application:

• Food & Beverages
• Pharmaceuticals
• Personal Care
• Others

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa