The global metal packaging market size was valued at USD 121.52 billion in 2018 and is expected to reach USD 162.88 billion in 2026, growing at a CAGR of 42% between 2019 and 2026.
The report covers forecast and analysis for the metal packaging market on a global and regional level. The study provides historical data from 2014 to 2018 along with a forecast from 2019 to 2026 based volume (Kilo Tons) and revenue (USD Billion). The study includes major drivers and restraints for the metal packaging market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the metal packaging market on a global level.
Metal packaging plays a key role in the food preservation. This kind of packaging plays important role in such a part of the world where very low or no refrigeration used for storing food. Metal packaging is used to protect against any external influence on the foodstuff during storage and heat treatment and as a sales and information pack. Metal cans are used for many food contact applications, such as coffee pots as well as packaging and saucepans. Generally, aluminum and steel are largely used in metal packaging.
The global rise in lifestyle and on-the-go disposable income has enhanced the demand for canned beverages and food. Seasonal foods are served throughout the year due to the canned food. Almost half of the harvested food is wasted in the world which can make available to customers throughout the year. Metal packaging market is primarily driven by rising standard of living and increasing demand for food and beverages market in the forecast period. Moreover, rising urbanization and increasing packaged food consumption are also driving the growth of metal packaging market in the years to come. However, shifting preference towards plastic and flexible packaging and volatility in raw material prices are expected to hinder the growth of metal packaging market in the years to come. Nonetheless, e-commerce market and development and research in metal packaging manufacturing, materials, and design are likely to set the new opportunity to the market of the metal packaging during the forecast period.
Metal Packaging market is segmented into types, applications, and regions. Based on types, metal packaging market is segmented into cans, barrels & drums, caps & closures and others. Amongst all types of packaging materials, metal cans possess about 9% market share in 2016. Cans have the largest market share of metal packaging market and it is anticipated to be the market leader in the years to come. Cans have dominated the market in 2016 and it is expected to be dominating over the forecast period. Barrels & drums are anticipated to grow at a CAGR 3.2% in terms of volume within the forecast period. Caps & closures accounted around 0.98 billion global markets in 2016 and it is projected to reach USD 1.87 billion in 2026 at a CAGR of 2.8%.
Based on applications, metal packaging market is fragmented into beverages, food, personal care, healthcare and others applications. Beverages segment accounted around 26% market share in 2016 and it is anticipated to grow at a CAGR of 3.5% in the coming years. Rise in packaged food sales, increasing urbanization, increasing demand for aerosol products, increasing consumption of canned vegetables and foods and rising demand for metal packaging in the alcohol industry. Personal care and cosmetics industry are expected to enhance the growth of the metal packaging market.
The global metal packaging market is anticipated to reach USD 141.88 Billion by 2022, with a CAGR of 2.9% from 2017 to 2022. Due to the strong growth of end-user industries in developing countries such as Brazil, China, and India is further expected to enhance the market growth over the forecast period. North America has dominated the global metal packaging market with total 35% global market share in 2016 and it is expected to be dominating within the forecast period. However, it is anticipated to exhibit sluggish growth for the metal packaging in the years to come.
Asia Pacific market was the fastest growing region in 2016 and it is expected to be the fastest growing region it is anticipated to grow at a CAGR 4% during the years to come, owing to the developing countries such as China and India, disposable income and rising lifestyle of people in the region is also expected to propel the growth of metal packaging market over the projected years.
North America was the leading market for metal packaging and it accounted around 35% shares of total metal packaging market in 2016 as consumption rate of canned food is highest in the region. North America is followed by Europe and the Asia Pacific, and it is expected to exhibit the sluggish growth over the forthcoming years.
In Europe, there is a strong trend to reuse metal packaging like aerosols and beverage cans due to the consumer’s awareness about environmental issues. The European government takes initiative to achieve the challenging target for recycling. Europe steadily increased the rate of recycling of metal packaging in recent years, and in 2016 achieves around 77% recycling of rigid metal packaging and set an objective target for 2022 is around 82% for metal packaging recycling.
Latin America and Middle East market growth rate for metal packaging will be high is anticipated in years to come owing to the rising convenient packaging across end-user industries. Due to the high demand from developing countries for packaged food and canned beverages.
Some of the key players in the market are Crown Holdings, Amcor of Limited, CPMC, Ardagh Group, Bericap Group, Emballator Metal Group, Fujian Fuzhen Metal Packaging Co. Ltd., Alcoa Incorporated, Rexam Plc, Manaksia Group, Shetron Group, Silgan Holdings, Jamestrong Packaging, Ton Yi Industrial, Grief Incorporated, and GM Metal Packaging Ltd.
Metal Packaging Market: Type Analysis
Metal Packaging Market: Application Analysis
Metal Packaging Market: Regional Analysis
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