- Caps and Closures
- Drums and Barrels
Metal Packaging Market was valued at USD 132.4 billion in 2022 and is expected to grow at a 3.7% CAGR from 2023 to 2029. Metal Packaging is a type of packaging constructed primarily with metals like steel and aluminum. Metal packaging has various advantages such as high impact resistance, convenience for long-distance shipment deliveries, and the ability to sustain extreme temperature. The growing popularity and increasing demand for metal packaging in canned food especially in urban areas is expected to drive the metal packaging market overview. In addition, metal packaging is also used in the fragrance industry owing to its capacity to hold high pressure and durability and also the increasing popularity of luxury products in metal packaging such as cookies, coffee, and tea resulting in the increasing use of metal packaging. Furthermore, the use of metal packaging in healthcare, personal care, and chemical sectors gradually which is expected to boost the growth of the metal packaging market over the forecast years. However, the environmental issue related to metal mining is expected to hinder the growth of the metal packaging market. However, increasing awareness of people about the harmful impact of plastics on the environment and recycling of metal packaging is expected to propel the growth of the metal packaging market over the forecast years. For instance, the recycling rate of metal packaging in countries like Brazil, Germany, Switzerland, and China is 90% and more. The use of recycled aluminum has reduced the greenhouse gas emission by 95%. In addition, growing awareness of people about non-carcinogenic packaging materials along with the increasing demand for lightweight packaging is expected to propel the metal packaging market growth over the forecast years.
In Sep 2021, Silgan Holdings Inc. A leading supplier of sustainable rigid packaging solutions for consumer goods products announced that it has acquired Unicep Packaging. As a Specialty Contract Manufacturer and Developer (SCMD) solutions provider, this business develops, formulates, manufactures, and sells precision dosing dispensing packaging solutions, such as diagnostic test components, oral care applications, and skin care products, primarily for the health care, diagnostics, animal health, oral care, and personal care markets.
Fastest Growing Market
The metal packaging market is expected to grow over the forecasted period due to the increasing concern about environmental protection among the public increasing the demand for sustainable packaging solutions. In addition, factors such as recyclability, strength, durability, and zero contamination of metal is expected to increase demand for metal packaging in pharmaceuticals, food & beverage, and personal care products sectors over the forecast years. Furthermore, owing to the growing focus on environmental sustainability, many market players and companies are shifting towards sustainable packaging including metal packaging to reduce carbon footprints and produce more eco-friendly packaging.
The Metal Packaging Market is projected to expand at a CAGR of 3.7% during the forecast period.
Alcoa Corporation, Ball Corporation, Crown Holdings., Ardagh Group
Asia-Pacific is the fastest-growing region for Metal Packaging Market
Increasing environment concern, and factors such as recyclability, durability are expected to drive the growth of metal packaging market over the forecast years.
Increasing focus on environment sustainability has shifted to market key players in metal packaging due to its recyclability, lightweight, and durability.