The Global Market for Metal Packaging Materials and Products is Projected to Exceed US$165 Billion by 2024

The Evolving Circular Economy & the Resulting Demand for 100% Recyclable and Reusable Metal Packaging Drives Market Growth, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Metal Packaging market. The global market for Metal Packaging Materials and Products is projected to exceed US$165 billion by 2024, driven by the increasing focus on recyclability and reuse; growing popularity of convenient, cost-friendly, and safe packaging options; and format and functionality advancements.

Metal has been in use as a packaging material for storage and preservation of perishable products since time immemorial. The material ranks as the third most sought after material after paper & board and rigid and flexible plastics. Newer technologies of shaping, embossing and adding decorative finishes to the final product, which surfaced over the years, only resulted in making the metal more adaptable. The technologies significantly raised the visual appeal for products packaged in metal containers. Not just aesthetic appeal, but metal packaging over the years improved in terms of the functionality aspect also, offering enhanced convenience for consumers in handling the packaged products. The application sectors of metal packaging are also comparatively well-established guaranteeing steady growth for the market despite the presence of strong alternatives such as plastic. The durability and versatility features further made metal the most preferred material for packaging, protecting contents inside from exposure to humidity, light and air. The growing health, safety and environmental consciousness among consumers are a major influence for the global metal packaging market.

Future growth of the market will be driven by the permanency of metals and their amenability to “real recycling”, decreased carbon-dioxide emissions and efficient resource management making them a precious natural resource in a world with scarce resources but increasing human needs. Metal-based packaging is suitably placed for contributing to the circular economy playing a vital role in efforts towards sustainability and environment protection. The on-going shift towards lightweight products represent another important growth driver with Lightweight metal packaging becoming commonplace especially in beverage packaging which is characterized by high volume and impulse purchases. Other factors benefiting market prospects in the coming years include increasing consumption of various alcoholic and non-alcoholic beverages worldwide, growing preference for aluminum cans in beer and soft drinks packaging, rising consumer interest in safe and convenient canned foods and beverages, and growing popularity of steel and aluminum as a sustainable bulk packaging option. Despite the positive outlook, key challenges confronting the market include rising substitution threat from alternate packaging materials, especially paper and polymer packaging and the global outcry against epoxy resin BPA (bisphenol A) that is used for lining the food-contact surface of metallic containers.

As stated by the new market research report on Metal Packaging, Europe represents the largest market worldwide. Asia-Pacific represents the fastest growing market witnessing a CAGR of 5.9% over the analysis period. Growing preference for premium and convenient food and beverages due to increasing affordability and changing lifestyles; expanding retail sector; exponential increase in urbanization; rising awareness about the benefits of nutrient-retaining packaging, booming demand for energy drinks, sports drinks and functional drinks; and increasing consumption of beer, cider and soft drinks represent key growth drivers in the region.

Key players in the market include Anheuser-Busch Companies Inc., Metal Container Corp., Ardagh Group, Ball Corp., BWAY Corp., Can-Pack S. A., CPMC Holdings Limited, Crown Holdings Inc., Daiwa Can Company, Greif Inc., Hildering Packaging BV, Hoe Chong Tin Pte. Ltd., Orora Limited, Pirlo GmbH & Co KG, Silgan Holdings Inc., Sonoco Products Company, Tata Steel Packaging, Tecnocap S.p.A, The Envases Universales Group, The Massilly Group, Stebler Packaging AG, and Toyo Seikan Group Holdings Ltd., among others.

The research report titled “Metal Packaging: A Global Strategic Business Report” announced by Global Industry Analysts Inc., analyzes key trends, growth drivers, market challenges, product launches, mergers and acquisitions, and other corporate activity of market participants. The report provides market estimates and projections in US$ for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Rest of World. Key material types analyzed in the report include Aluminum, Tinplate, and Steel. Product segments analyzed include Metal Cans, Metal Caps & Closures, Metal Containers, and Others.

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