The metal packaging market size was valued at US$ 145.52 billion in 2022 and is expected to reach US$ 197.10 billion by 2030; it is estimated to register a CAGR of 3.9% from 2022 to 2030.
MARKET ANALYSIS
Metal packaging has many advantages, such as product protection, durability, and sustainability . Metal has good barrier properties to light, gases, and odors and withstands high temperatures. Metal is strong and protects the inside contents from damage. Aluminum and steel are considerably more durable than other packaging materials. Metal is made to last and to be reused multiple times. Some metal packaging products are bottles, cans, caps and closures, drums, and tubes. Metal is highly used in food packaging. Nowadays, food and beverage cans make up most of the metal packaging. Metal packaging products also find application in end-use industries such as personal care, consumer goods, pharmaceuticals, paints & coatings, and automotive. The major factors driving the growth of the global metal packaging market are the increasing demand for canned foods and beverages and the growing personal care and cosmetics industry. Changing consumer preferences contribute to the increased demand for on-the-go and ready-to-eat options such as canned food & beverages and packaged food products. In the region, the personal care and cosmetics industry is constantly innovating and expanding by offering a distinct range of cosmetics and specialized products for different skin types to cater to a wide range of consumer preferences. With this, the demand for metal packaging products is increasing. Further, the increasing use of recycled metals and post-consumer recycled materials is expected to offer lucrative opportunities for market growth.
GROWTH DRIVERS AND CHALLENGES
Canned foods have a long shelf life, attributed to heat and vacuum sealing during the canning process. Changing consumer preferences increase demand for on-the-go and ready-to-eat options such as packaged food products. The increasing demand for clean-label, low-calorie, and low-carb foods, along with manufacturers' continuous launch of innovative products, have spurred the sales of canned food products. Further, the demand for canned products, such as canned soups and stews, frozen soup, canned seafood soup and broths, and frozen fruits and vegetables, has increased in MENA. Moreover, metal packaging is increasingly used for personal care and cosmetic products due to its aesthetic appeal, durability, and protection against moisture and contaminants. Metal tubes, tins, and aerosol cans are common metal packaging applications. Metal packaging offers exceptional barrier protection against moisture, light, and air for cosmetic formulations. This airtight and light-resistant protection ensures that the products remain fresh, prevent degradation of active ingredients, and maintain original consistency and color. However, metal packaging faces intense competition from alternative packaging materials, particularly glass and plastics. Plastics offer low cost, lightweight, and great design flexibility, while glass offers premium aesthetic appeal. This competition prompts metal packaging manufacturers to innovate and differentiate their products. The limited awareness of the advantages of beverage metal packaging in undeveloped countries and the high cost of raw materials such as steel and aluminum restrict customers from adopting these materials.
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Metal Packaging Market: Strategic Insights
Market Size Value in US$ 145.52 billion in 2022 Market Size Value by US$ 197.10 billion by 2030 Growth rate CAGR of 3.9% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Metal Packaging Market: Strategic Insights
| Market Size Value in | US$ 145.52 billion in 2022 |
| Market Size Value by | US$ 197.10 billion by 2030 |
| Growth rate | CAGR of 3.9% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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REPORT SEGMENTATION AND SCOPE
The "Global Metal Packaging Market Analysis and Forecast to 2030" is a specialized and in-depth study focusing significantly on global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation on the basis of material, product type, end-use industry, and geography. The report provides key statistics on the use of metal packaging worldwide and their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the metal packaging market performance in major regions and countries. It also includes a comprehensive analysis of the leading players in the metal packaging market and their key strategic developments. Analysis of the market dynamics is also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
The ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global metal packaging market, which helps understand the entire supply chain and various factors influencing the market growth.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
SEGMENTAL ANALYSIS
The global metal packaging market is segmented on the basis of material, product type, and end-use industry. Based on material, the market is segmented into aluminum, steel, and others. Aluminum metal packaging stands out as a versatile and widely utilized solution in packaging materials. Renowned for its lightweight nature, corrosion resistance, and recyclability, aluminum is an ideal choice for various packaging needs. The use of aluminum in packaging contributes to the reduction of transportation costs due to its lightweight properties, making it an eco-friendly option. Based on product type, the market is segmented into bottles, cans, caps and closures, drums, tubes, and others. Metal packaging cans play a pivotal role in modern packaging, offering a robust and versatile solution for preserving and transporting various products such as food & beverage cans. These cans are durable, typically crafted from aluminum or steel, protecting contents from external elements, light, and air. Their hermetic seal ensures extended shelf life for food and beverages, maintaining product freshness and quality. Based on the end-use industry, the metal packaging market is segmented into food & beverages, personal care, consumer goods, pharmaceuticals, paints & coatings, automotive, and others. Metal packaging holds a significant and pervasive role in the food & beverages industry, offering many benefits that cater to both manufacturers and consumers. Steel and aluminum, commonly used metals in packaging, provide a robust shield against external elements such as light, air, and moisture, preserving the freshness and quality of food and beverages. This protective barrier is crucial in preventing contamination and spoilage, ensuring products reach consumers in optimal condition. The versatility of metal packaging is evident in various forms, including cans, containers, and closures.
Metal Packaging Market – by Type, 2022 and 2030
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
REGIONAL ANALYSIS
The report provides a detailed overview of the global metal packaging market with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific accounted for the largest share of the global metal packaging market and was valued at over US$ 40 billion in 2022. Asia Pacific marks the presence of major food & beverage manufacturers and is a hub for mid-sized businesses operating in the region. Europe is expected to reach over US$ 60 billion by 2030. North America is expected to record a CAGR of ~4% from 2022 to 2030. In North America, canned food & beverages are utilized significantly, and their use is increasing with the rising per capita income. As the food & beverage industry continues to evolve and innovate, demand for these high-performance metal packaging materials propels, contributing to the metal packaging market growth.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Various initiatives taken by the key players operating in the metal packaging market are listed below:
In October 2022, Ball Corp announced the availability of two new sizes of its infinitely recyclable Ball Aluminum Cup to broaden the opportunity for venues and concessionaires and offer consumers a full portfolio of sustainable cup options.
IMPACT OF COVID-19 PANDEMIC/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Before the COVID-19 pandemic, many countries across the world reported economic growth. The key manufacturers invested in the research and development of metal packaging. They also focused on expanding geographic reach through mergers and acquisitions to cater to a broad customer base. Before the pandemic, the metal packaging market reported steady growth due to increasing demand from the food & beverage industry. During the pandemic, supply chain disruptions, raw material and labor shortages, and operational difficulties created a demand and supply gap, adversely affecting the growth of the chemicals & materials industry. Manufacturers reported challenges in sourcing raw materials and ingredients from suppliers, impacting the production rate of metal packaging.
The demand and supply gap was also recorded in several regions due to fluctuating demand from the food & beverage industry. In 2021, rising vaccination rates contributed to improvements in the overall conditions in different countries, which led to conducive environments for the chemicals & materials industry. The sales of metal packaging increased with the resumption of production and sales operations of companies operating in the food & beverage industry. The increasing demand for high-quality metal packaging solutions in these industries has propelled the growth of the metal packaging market.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Ball Corp, Crown Holdings Inc, Dayal Metal Containers Factory LLC, Saudi Can Co, Saudi Arabian Steel Can Manufacturing Co, Mahmood Saeed Beverage Cans & Ends Industry Co Ltd, Consolidated Can Manufacturing Co Ltd, Southern Can Making Co Ltd, ZND Metal Cans, and Tengeh Noor Canvas Industry Co are among the key players operating in the metal packaging market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, Product Type, End-Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Based on the type, the metal packaging market is segmented into bottles, cans, caps and closures, drums, tubes, and others. Metal packaging cans play a pivotal role in modern packaging, offering a robust and versatile solution for preserving and transporting various products such as food & beverage cans.
Canned foods have a long shelf life, attributed to the application of heat and vacuum sealing during the canning process. Changing consumer preferences contribute to the increased demand for on-the-go and ready-to-eat options such as packaged food products. The increasing demand for clean-label, low-calorie, and low-carb foods, along with manufacturers' continuous launch of innovative products, have spurred the sales of canned food products.
Asia Pacific accounted for the largest share of the global metal packaging market. Fueled by expanding industrialization and a burgeoning consumer goods sector, the demand for metal packaging solutions has soared. Countries such as China and India have emerged as key players, driven by a rising middle-class population and increasing urbanization. Metal packaging’s durability, recyclability, and ability to preserve products make it a preferred choice for various industries, including food & beverages.
The major players operating in the global metal packaging market are Ball Corp, Crown Holdings Inc, Dayal Metal Containers Factory LLC, Saudi Can Co, Saudi Arabian Steel Can Manufacturing Co, Mahmood Saeed Beverage Cans & Ends Industry Co Ltd, Consolidated Can Manufacturing Co Ltd, Southern Can Making Co Ltd, ZND Metal Cans, and Tengeh Noor Canvas Industry Co.
Governments and organizations in globally are focused on establishing policies and legislation to promote and support the circular economy and recycling of materials. With several initiatives, the governments aims to promote sustainable economic practices and recycling/reusing materials to achieve the carbon neutrality goal by 2050. The adoption of reusable packaging has expanded among consumers in response to rising environmental concerns. Metal cans can be reused several times without compromising the material's quality.
Based on material, the market is segmented into aluminum, steel, and others. Aluminum metal packaging is a versatile and widely utilized solution in packaging materials. Renowned for its lightweight nature, corrosion resistance, and recyclability, aluminum is an ideal choice for various packaging needs. Using aluminum in packaging reduces transportation costs due to its lightweight properties, making it an eco-friendly option.
The List of Companies - Metal Packaging Market
- Ball Corp
- Crown Holdings Inc
- Dayal Metal Containers Factory LLC
- Saudi Can Co
- Saudi Arabian Steel Can Manufacturing Co
- Mahmood Saeed Beverage Cans & Ends Industry Co Ltd
- Consolidated Can Manufacturing Co Ltd
- Southern Can Making Co Ltd
- ZND Metal Cans
- Tengeh Noor Canvas Industry Co
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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