The food segment accounted for the largest share in 2020, contributing to more than two-fifths of the global metal packaging market, and is projected to maintain its lead position during the forecast period. Metal packaging ensures extended shelf life period for perishable food products. This trend has increased the dependency of packaged food products among consumers in the recent years. However, the personal care segment is expected to portray the largest CAGR of 4.4% from 2021 to 2030. The demand for youth centric consumer products has increased the application of metal packaging in the personal care sector.
Interested in Procuring This Report? Visit Here:
https://www.alliedmarketresearch.com/metal-packaging-market/purchase-options
The metal packaging industry is a sector that involves the manufacturing and production of various types of packaging containers and products made from metal materials. These containers are used to package a wide range of products, including food and beverages, pharmaceuticals, cosmetics, household chemicals, and more. The metal packaging industry offers a variety of benefits, such as durability, sustainability, and the ability to protect products from external elements like light, air, and moisture.
Europe, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global metal packaging market, owing to the presence of key market players. However, the Asia-Pacific region is expected to witness the fastest CAGR of 3.9% during the forecast period. The increase in disposable income, application in the food and beverage industries, and rise in population augmented the growth of the metal packaging market in this region.
Key aspects of the metal packaging industry include:
- Materials Used: Metal packaging is typically made from materials like aluminum, steel, and tinplate. These materials provide strength, stability, and resistance to corrosion, making them suitable for packaging various types of products.
- Types of Metal Packaging: The industry produces a diverse range of metal packaging products, including cans, bottles, jars, aerosol cans, drums, tubes, and more. These containers can vary in size, shape, and design to cater to different product requirements.
The steel segment held the highest market share in 2020, accounting for more than three-fifths of the global metal packaging market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to its usage in lightweight metal packaging for food and beverage cans along with paints, aerosols, closures, and promotional packaging. However, the aluminum segment is projected to manifest the highest CAGR of 4.4% from 2021 to 2030. The adoption of aluminum, especially in the beverage sector, has heavily fueled the growth of the segment.
- Advantages of Metal Packaging:
- Durability: Metal packaging is known for its strength and resistance to damage, which helps protect products during storage and transportation.
- Preservation: Metal packaging offers excellent barrier properties, shielding products from light, air, moisture, and contaminants, thus extending their shelf life.
- Recyclability: Metals like aluminum and steel are highly recyclable materials, contributing to the sustainability of metal packaging. Recycled metal can be used to create new packaging products, reducing the demand for virgin materials.
- Brand Appeal: Metal packaging can be customized with intricate designs, labels, and printing, enhancing brand recognition and consumer appeal.
- Protection: Metal packaging provides a high level of protection against tampering, ensuring the integrity of products.
Advances in packaging technology and large demand for canned food drive the growth of the global metal packaging market. However, environment-related issues pertaining to steel mining and increased material cost hinder the market growth.
- Industry Trends:
- Sustainability: As environmental concerns grow, the industry is placing more emphasis on using recycled materials and reducing the environmental impact of metal production and packaging processes.
- Innovation: Advances in technology and manufacturing processes have led to innovations in metal packaging, such as easy-open lids, resealable packaging, and lightweight designs.
- Design and Branding: Metal packaging is increasingly used as a canvas for unique and eye-catching designs, helping products stand out on store shelves.
- Digital Integration: Some metal packaging is incorporating digital elements, like QR codes, for interactive consumer experiences or supply chain tracking.
According to the report, the global metal packaging industry generated $108.8 billion in 2020, and is anticipated to generate $147.4 billion by 2030, witnessing a CAGR of 3.1% from 2021 to 2030.
- Challenges:
- Cost: Metal packaging can be more expensive to produce compared to some other packaging materials.
- Weight: Metal packaging can be heavier than alternatives like plastic, which may increase transportation costs.
- Corrosion: While metals offer good protection, they can still be prone to corrosion in certain conditions.
Overall, the metal packaging industry plays a vital role in ensuring the safe and sustainable packaging of various products. It continues to evolve by adopting new technologies, improving sustainability practices, and meeting the changing demands of consumers and industries.
Leading Market Players
- Amcor Plc.
- Ardagh Group S.A.
- Ball Corporation
- CPMC Holdings Ltd.
- Crown Holdings, Inc.
- Greif Incorporated
- Metal Packaging Europe
- Silgan Holdings, Inc.
- Tata Steel
- Ton Yi Industrial
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/1910
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com