The latest report by IMARC Group, titled “Metal Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global metal packaging market reached a value of US$ 158.7 Billion in 2022. Metal packaging is manufactured using steel and aluminum sheets that provide high barrier properties. It can be shaped by modern production methods and cutting-edge machinery to develop easy-to-open lids, various surface designs, and high solidity and tightness. It is also used in the packaging of paint and chemical materials to form a barrier that is resistant to air, light, and water. In addition, it is resistant to insects and rodents and can be heated and cooled for sterilization. Metal packaging offers several benefits, such as compactness, toughness, high density, malleability, and thermal conductivity. As a result, it finds extensive applications in the packaging of food, beverages, and industrial, personal care and pharmaceutical products.
Global Metal Packaging Market Trends:
At present, there is a rise in the demand for canned food across the globe as it is a rich source of vitamins, protein, fiber, and minerals, which are essential for a healthy diet. This, along with the expanding food and beverage (F&B) industry, represents one of the key factors driving the market. Moreover, there is an increase in the utilization of metal packaging in the fragrance sector due to its capacity to handle high pressure and durability. This, coupled with the rising traction of luxury products, such as cookies, coffee, tea, and other items, is propelling the growth of the market. In addition, several benefits offered by metal packaging, such as impact resistance, ability to endure extreme temperatures, and convenience for long-distance shipment, are positively influencing the market. Besides this, key market players are extensively investing in research and development (R&D) activities to introduce metal cans with increased functional and storage qualities. Looking forward, IMARC Group expects the market to reach US$ 188.4 Billion by 2028, exhibiting a CAGR of 2.84% during the forecast period (2023-2028).
- Based on the product type, the market has been classified into cans, drums, metal caps and closures, bulk containers, and others. At present, cans represent one of the widely used product types of metal packaging.
- Based on the material type, the market has been segmented into steel, aluminum, and others. Steel currently accounts for the majority of the total market share.
- On the basis of the application, the market has been categorized into beverage, food, healthcare and personal care products, cosmetic, industrial, and others. Presently, food dominates the global market.
- Region-wise, the market has been divided into North America (the United States and Canada); 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. Amongst these, Europe enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report, 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 SA, Tubex Holding GmbH, BWAY Corporation, CPMC Holdings Limited, Rexam Plc, and Ton YI Industrial Corporation.
|Base Year of the Analysis
||Product, Material, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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 and Ton YI Industrial Corporation
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