METAL PACKAGING MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Metal Packaging Market Analysis:

The metal packaging market was valued at USD 130.83 billion in the previous year and is projected to exhibit a compound annual growth rate (CAGR) of 3.28% during the forecast period, reaching USD 159.74 billion within the next five years.

Metal packaging is predominantly composed of steel, aluminum, and other metals. Its key advantages include impact resistance, the ability to withstand extreme temperatures, suitability for long-distance transportation, and other benefits. The increasing demand for canned food, particularly in densely populated urban areas, has contributed to the product’s growing popularity for this purpose. The durability and high-pressure resistance of metal-based packaging have also made it a preferred choice in the fragrance industry. Furthermore, metal packaging is gaining traction in the luxury goods sector, including cookies, coffee, tea, and other commodities.

Consumer products, cosmetics, healthcare, food & beverage, and other end-use industries rely on metal packaging. The market is expected to experience significant growth over the forecast period due to the remarkable expansion of these end-use industries. The demand for metal packaging is also influenced by various other factors, such as the increasing demand for convenient packaging, rising health consciousness, the trend towards an “on-the-go” lifestyle, the need for brand differentiation in a highly competitive environment, and growing environmental awareness. Consequently, businesses have implemented new packaging recycling regulations. The increasing health consciousness of consumers is the primary driver of the demand for metal packaging.

Metal packaging is also finding extensive application in the food and beverage industry, as it is suitable for protecting food content and ensuring a longer shelf life than most other packaging solutions. Heavy-duty metal containers, such as drums and intermediate bulk containers (IBCs), are used for transporting oil, chemicals, and liquids. According to the United Nations, the world is rapidly urbanizing, with the proportion of people living in urban areas expected to reach 66% by 2050. As urbanization and affluence rise, there is a high demand for packaged food. The excellent preservative properties and structural integrity of various metal product types, offering higher shelf life, have increased the usage of metal packaging in the food packaging industry.

Furthermore, the recyclability of metal packaging is a crucial factor expected to drive the global metal packaging market over the forecast period. Aluminum and steel packaging materials are the two most commonly recycled components for packaging due to the widespread recycling infrastructure. Most businesses in Europe and North America prefer to promote their products as being packaged with environmentally friendly materials.

Moreover, ready-to-eat or on-the-go meals have witnessed a steady demand for convenience, particularly among consumers with busy lifestyles. As a result, large organized retailers have begun to stock vast quantities of canned food and beverages. Nowadays, both offline and online retailers offer a wide range of packaged food brands in their stores. Metal packaging is well-suited for beverages as it is easy to cool, keeps the contents fresh, and prevents breakages when on the go due to the material’s strength.

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