According to the latest report by IMARC Group, titled “Metal Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global metal packaging market size reached US$ 108.3 Billion in 2019. Metals are solid materials that are ductile, malleable and offer excellent electrical and thermal conductivity. They are also lightweight and unbreakable, owing to which they act as a versatile and sustainable packaging solution. In the food and beverage (F&B) industry, for instance, they safeguard the products from pathogens, thereby extending their shelf-life and retaining the taste, as well as the nutritional value. Currently, metal packaging is gaining traction around the world due to its minimal impact on the environment as compared to other packaging alternatives.
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Global Metal Packaging Market Trends:
On account of hectic lifestyles, growing population and inflating income levels, the demand for packaged food products is escalating across the globe. This, in confluence with the burgeoning F&B sector, is strengthening the metal packaging market growth. Besides this, metals are utilized in the packaging of healthcare products in the form of trays, sterilizers, ointment tubes and tablet wrappers. Furthermore, the industry is witnessing the advent of resealable cans that are integrated with a flat opening mechanism, which is made using plastic. These cans can be effortlessly opened and closed with a simple rotating movement. Apart from this, owing to the increasing environmental concerns among individuals, there is a rise in the demand for eco-friendly and sustainable packaging alternatives, which is anticipated to bolster the market growth in the upcoming years. Looking forward, the global metal packaging market value is projected to reach US$ 128.6 Billion by 2025, expanding at a CAGR of 2.9% during the forecast period (2020-2025).
Market Breakup by Product Type:
- Cans
- Drums
- Metal Caps and Closures
- Bulk Containers
- Others
Cans currently exhibit a clear dominance in the market.
Market Breakup by Material:
- Steel
- Aluminum
- Others
At present, aluminum accounts for the majority of the total market share.
Market Breakup by Application:
- Beverages
- Food
- Healthcare
- Personal Care Products
- Industrial
- Other packaging
Amongst these, beverages hold the largest market share.
Market Region Summary:
Region-wise, North America (the United States and Canada) enjoys the leading position in the market. Other major markets include Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being:
- Alcoa Corporation
- Amcor Plc
- Ball Corporation
- Crown Holdings Inc.
- Silgan Holdings Incorporated
- Greif Incorporated
- Ardagh Group S.A.
- Can-Pack S.A.
- Tubex Holding GmbH
- BWAY Corporation
- CPMC Holdings Limited
- Rexam Plc
- Ton YI Industrial Corporation
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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