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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 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).
- Based on the product type, the market has been segmented into cans, drums, metal caps and closures, bulk containers, and others. Cans currently exhibit a clear dominance in the market.
- On the basis of the material, the market has been segregated into steel, aluminum and others. At present, aluminum accounts for the majority of the total market share.
- The market has been analyzed on the basis of the application into beverages, food, healthcare and personal care products, industrial, and other packaging. Amongst these, beverages hold the largest market share.
- 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 and Ton YI Industrial Corporation.
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