September 20, 2024 07:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
Newark, Del, Sept. 20, 2024 (GLOBE NEWSWIRE) -- The global metal packaging industry is poised for substantial growth, with sales estimated at USD 124.8 billion in 2024 and expected to surge to USD 164.6 billion by 2034. This promising growth trajectory reflects a compound annual growth rate (CAGR) of 2.8% over the forecast period. The sector, which generated USD 120.2 billion in revenue in 2023, is set to showcase a remarkable year-over-year growth of 6.1% in 2024. 16 oz paper cups
The global metal packaging market is witnessing robust demand, driven by a combination of sustainability trends, consumer preferences, and technological advancements. Metal packaging, especially metal cans, dominates the industry due to its superior durability, recyclability, and protective qualities. These attributes make it an ideal choice for preserving the freshness and extending the shelf life of food and beverages, which is increasingly valued by consumers.
The demand for metal packaging is also fueled by the rising focus on environmental sustainability. Metal cans offer high recycling rates and are often seen as more eco-friendly compared to plastic alternatives. This aligns with the growing consumer and regulatory push towards reducing plastic waste and embracing recyclable materials.
Additionally, innovations such as lightweight aluminum cans and advanced metal 3d printing technologies are enhancing the appeal of metal packaging. Lightweighting reduces transportation costs and carbon footprint, while 3d printing allows for customized and aesthetically appealing designs that attract consumers.
Despite challenges related to high production costs, the metal packaging market is set for continued growth as companies and consumers increasingly prioritize sustainability and quality in packaging solutions.
Metal containers eliminates the need for secondary packaging
The most important factor is that due to the help of metal containers, there can be a scope for elimination of secondary packaging solutions, as these are sturdy to allow for uses independently while in transit and storage. Unlike fragile jars or bottles which may leak or break during transportation or handling, metal containers don't require secondary packing.
It also offers a better barrier against light, oxidation, and contamination than the pouches and bags could ever be made to. Metal containers protect 100% against water and light. Moreover, consumers are likely to consider metal containers tamper-proof, therefore, this can make them more preferred among other packaging formats.
Most secondary packaging material directly goes to the waste bins, reaches landfills, or water bodies when it reaches the end user. Due to increased protests against packaging waste for polluting the eco-system, the manufacturers as well as consumers are concerned in reducing their share of generated waste. That metal containers are strong further means that no secondary packaging needs to be added to the product, which again is a boost for the sustainability factor that metal containers provide.
Metal can recycling boosts environmental sustainability
The recycling process helps in saving landfill space, while at the same time decreasing raw material costs and energy usage. According to canned food alliance, for every ton of steel recycled, 2,500 pounds of iron ore, 1,400 pounds of coal, and 120 pounds of limestone are conserved.
Food packaging metal cans are fully recyclable. Newly manufactured cans from recycled steel also cut over 70% in greenhouse gas emissions. These add up to the popularity of food cans amongst the environmentally conscious populace.
Canned foods use less energy compared to fresh or frozen foods. It generally includes the gathering of fruits and vegetables that are to be canned and canning them within hours to reduce their environmental impact. Besides this, the cold chain distribution system for shipment and storage requires less energy than fresh and frozen foods; it furthers helps in simplifying the supply chain while ensuring more cost and energy savings. Long shelf life also ensures less food wastage due to spoiling.
Key takeaways from global metal packaging market
“3d printing technology is becoming increasingly popular in the metal packaging market. This technology enables manufacturers to create highly customized and intricate metal packaging designs, which can be used to enhance branding and product differentiation.”- says a lead consultant ismail sutaria in packaging at future market insights (FMI).
Chemicals industry to boost demand for metal packaging
The use of metal containers is growing fast in the transportation of liquids such as paints, coatings, lubricants, greases and dyes. Stainless steel containers are one of the suitable packaging solutions for the shipping of harmful and corrosive fluids. They also play a dual role as an effective warehouse storage option. Paints, coatings, lubricants, greases and dyes are demanding industries that require storage and transport containers that can ensure various chemicals are successfully delivered without affecting the product quality.
According to the american coatings association, approximately half of the paint and coating products meet the criteria for hazardous materials and are regulated by the u.s. Department of transportation’s (dot) hazardous materials regulations (hmr), along with the modal regulations for air, rail, highway, and sea transportation. The need for secure transportation of hazardous products in the paints, coatings, lubricants, greases and dyes industries is expected to boost the demand for metal containers.
Global metal packaging market landscape
Ball corporation, ardagh group, amcor plc, ccl industries inc., cpmc holdings ltd., silgan holdings, greif inc., chicago steel container corporation (stavig industries east llc), arcelormittal s.a., crown holdings, toyo seikan group holdings ltd, kian joo can factory berhad, independent can company, berlin packaging company, mauser packaging solutions, are some of the noticeable players in the market. The tier 1 players in the market hold 40 – 45% of the overall metal packaging market.
Country-wise insights for the metal packaging market:
Unlock comprehensive market insights – explore the full report now: https://www.futuremarketinsights.com/reports/metal-packaging-market
Key players of metal packaging industry
Key segments of metal packaging industry
In terms of product, the industry is divided into cans, drums, aerosol cans, pails, intermediate bulk containers, and others. Cans is future divided into cone top cans, f-style cans, utility cans, slip over cans, and others.
In terms of material, the industry is segregated steel, aluminum, and tin.
The industry is classified by end use as food & beverage, chemical, automotive, pharmaceuticals & healthcare, cosmetics & personal care, building & construction, and other end uses.
Key countries of north america, latin america, western europe, eastern europe, south asia & pacific, east asia, and middle east and africa (mea), have been covered in the report.
The global metal packaging industry is poised for substantial growth, with sales estimated at USD 124.8 billion in 2024 and expected to reach USD 164.6 billion by 2034. This promising growth trajectory reflects a compound annual growth rate (CAGR) of 2.8% over the forecast period. The sector, which generated USD 120.2 billion in revenue in 2023, is expected to post a remarkable annual growth of 6.1% in 2024.
The global metal packaging market is experiencing strong demand, fueled by a combination of sustainability trends, consumer preferences and technological advancements. Metal packaging, particularly metal cans, dominates the industry due to its durability, recyclability and superior protective qualities. These attributes make it an ideal choice for preserving freshness and extending the shelf life of food and beverages, which is increasingly appreciated by consumers.
The demand for metal packaging is also fueled by the growing focus on environmental sustainability. Metal cans offer high recycling rates and are often considered more environmentally friendly than plastic alternatives. This aligns with growing pressure from consumers and regulators to reduce plastic waste and adopt recyclable materials.
Additionally, innovations such as lightweight aluminum cans and advanced metal 3D printing technologies are increasing the appeal of metal packaging. Lightweighting reduces transportation costs and carbon footprint, while 3D printing enables personalized, aesthetic designs that appeal to consumers.
Despite the challenges of high production costs, the metal packaging market is poised for continued growth as businesses and consumers increasingly place importance on sustainability and quality packaging solutions. 'packaging.
Metal containers eliminate the need for secondary packaging
The most important factor is that with the help of metal containers, there can be a possibility of elimination of secondary packaging solutions as they are sturdy to enable independent uses during transportation and storage. Unlike fragile jars or bottles that can leak or break during shipping or handling, metal containers do not require secondary packaging.
It also provides a better barrier against light, oxidation and contamination than sachets and bags could ever be made. Metal containers protect 100% against water and light. Additionally, consumers are likely to view metal containers as tamper-proof, which may make them more preferred among other packaging formats.
Most secondary packaging materials end up directly in trash cans, landfills or bodies of water when they reach the end user. Due to the increase in protests against packaging waste that pollutes the ecosystem, manufacturers as well as consumers are keen to reduce their share of waste generated.
The fact that metal containers are strong also means that no secondary packaging needs to be added to the product, which is a further boost to the sustainability factor that metal containers provide.
Recycling metal cans improves environmental sustainability
The recycling process saves landfill space, while reducing raw material costs and energy consumption. According to the Canned Food Alliance, for every ton of steel recycled, 2,500 pounds of iron ore, 1,400 pounds of coal and 120 pounds of limestone are saved.
Metal cans are fully recyclable. Newly made cans made from recycled steel also reduce greenhouse gas emissions by more than 70%. These elements contribute to the popularity of cans among environmentally conscious populations.
Canned foods use less energy than fresh or frozen foods. This usually involves collecting fruits and vegetables to be canned and canning them within a few hours to reduce their environmental impact. Additionally, the cold chain distribution system for shipping and storage requires less energy than fresh and frozen foods; it further helps to simplify the supply chain while ensuring further cost and energy savings. The long shelf life also ensures less food waste due to spoilage.
Key Takeaways from the Global Metal Packaging Market
“3D printing technology is becoming more and more popular in the metal packaging market. This technology allows manufacturers to create highly personalized and complex metal packaging designs, which can be used to improve branding and product differentiation,” says Ismail Sutaria, Senior Packaging Consultant at Future Market Insights (Fmi ) .
Chemical industry to drive demand for metal packaging
The use of metal containers is growing rapidly in the transportation of liquids such as paints, coatings, lubricants, greases and dyes. Stainless steel containers are one of the suitable packaging solutions for shipping harmful and corrosive fluids. They also serve double duty as an efficient warehouse storage option. Paints, coatings, lubricants, greases and dyes are demanding industries that require storage and transportation containers that can ensure the successful delivery of various chemicals without affecting product quality.
According to the American Coatings Association, approximately half of paint and coating products meet the criteria for hazardous materials and are regulated by the U.S. Department of Transportation's (Dot) Hazardous Materials Regulation (Hmr), as well as Regulation modal for air, rail, road and maritime transport. The need for safe transportation of hazardous products in the paints, coatings, lubricants, greases and dyes industries is expected to drive the demand for metal containers.
Global Metal Packaging Market Landscape
Ball Corporation, Ardagh Group, Amcor Plc, Ccl Industries Inc., Cpmc Holdings Ltd., Silgan Holdings, Greif Inc., Chicago Steel Container Corporation (Stavig Industries East Llc), Arcelormittal SA, Crown Holdings, Toyo Seikan Group Holdings Ltd, Kian Joo Can Factory Berhad, Independent Can Company, Berlin Packaging Company, Mauser Packaging Solutions, are some of the prominent players in the market. Leading market players hold 40-45% of the overall metal packaging market.
Key Players in the Metal Packaging Industry
Main segments of the metal packaging industry
Old publication: https://www.globenewswire.com/en/news-release/2022/06/10/2460524/0/en/metal-packaging-market-is-projected-to-record-a-CAGR-of-3-6-during-2022-2032-future-market-insights-inc.html
Ismail sutaria (lead consultant, packaging and materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an mba holder in marketing and has a bachelor’s degree in mathematics.
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