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Metal Packaging Market was valued at US$ 145.52 billion in 2022 and is expected to reach to US$ 197.10 billion by 2030; it is estimated to record a CAGR of 3.9% from 2022 to 2030

Metal Packaging Market

In 2022, Asia Pacific dominated the global metal packaging market. Fueled by expanding industrialization and a burgeoning consumer goods sector, the demand for metal packaging solutions has soared. Countries such as China and India have emerged as key players, driven by a rising middle-class population and increasing urbanization. Metal packaging’s durability, recyclability, and ability to preserve products make it a preferred choice for various industries, including food & beverages. Additionally, stringent environmental regulations have prompted a shift toward sustainable packaging, further boosting the adoption of metal packaging in the region. Thus, the growing industrialization and urbanization in Asia Pacific are expected to create lucrative business opportunities for the metal packaging market players in the region during the forecast period.

Increasing Demand for Canned Foods Drives Metal Packaging Market

Canned foods have a long shelf life, attributed to heat and vacuum sealing during the canning process. Changing consumer preferences increase demand for on-the-go and ready-to-eat options such as packaged food products. The increasing demand for clean-label, low-calorie, and low-carb foods and manufacturers’ continuous launch of innovative products has spurred the sales of canned food products. Further, the demand for canned products in the global market, such as canned soups and stews, frozen soup, canned seafood soup and broths, and frozen fruits and vegetables, has increased. In 2022, Pacific Foods launched canned soups and plant-based chilis in recyclable, non-BPA-lined steel packaging. Further, government schemes and initiatives are expected to boost the development of the food industry in the Middle East.

Canned meat, seafood, and premium food products have gained popularity in the global market due to increasing demand for convenience food. Canned food products are convenient and shelf-stable options that can be stored without refrigeration. The growing immigrant population and busy lifestyle have further fostered the growth of packaged food products. These factors have prompted manufacturers and suppliers to develop marketing, distribution, and expansion strategies to cater to the growing demand for convenience products. For instance, in November 2023, the National Agricultural Development Co (NADEC) and Del Monte Saudi Arabia Factory Co Ltd established a joint venture to produce and distribute food products that include French fries, canned fruits & vegetables, frozen fruits, and processed fruits. Thus, the rising demand for canned foods drives the metal packaging market.

Metal Packaging Market: Segmental Overview

Based on material, the market is segmented into aluminum, steel, and others. Aluminum metal packaging is a versatile and widely utilized solution in packaging materials. Renowned for its lightweight nature, corrosion resistance, and recyclability, aluminum is an ideal choice for various packaging needs. Using aluminum in packaging reduces transportation costs due to its lightweight properties, making it an eco-friendly option. Based on product type, the market is segmented into bottles, cans, caps and closures, drums, tubes, and others. Metal packaging cans play a pivotal role in modern packaging, offering a robust and versatile solution for preserving and transporting various products such as food & beverage cans. These cans are durable, typically crafted from aluminum or steel, protecting contents from external elements, light, and air. Their hermetic seal ensures extended shelf life for food and beverages, maintaining product freshness and quality. Based on the end-use industry, the metal packaging market is segmented into food & beverages, personal care, consumer goods, pharmaceuticals, paints & coatings, automotive, and others. Metal packaging holds a significant and pervasive role in the food & beverages industry, offering a multitude of benefits that cater to both manufacturers and consumers. Steel and aluminum, commonly used metals in packaging, provide a robust shield against external elements such as light, air, and moisture, preserving the freshness and quality of food and beverages. This protective barrier is crucial in preventing contamination and spoilage, ensuring products reach consumers optimally. The versatility of metal packaging is evident in various forms, including cans, containers, and closures.

Impact of COVID-19 Pandemic on Metal Packaging Market

Before the COVID-19 pandemic, many countries reported economic growth. Metal packaging manufacturers invested in research to develop advanced technology and improve production efficiency. Major market players also focused on geographic expansion through mergers and acquisitions to cater to a broad customer base. The chemicals & materials industry announced a slowdown of manufacturing operations and shutdown, as well as projected a slump in metal packaging sales after the emergence of the COVID-19 outbreak. Thus, major companies involved in metal packaging production faced the hardest hit during the initial phase of the pandemic due to sudden government restrictions on the manufacturing of nonessential commodities. In 2021, several food & beverage companies began recovering from the losses incurred in 2020 with the revival of production operations. Manufacturers were permitted to operate at full capacities, which helped them cope with the demand-supply gap. With economies reviving their operations, the demand for metal packaging started rising globally as the automotive industry resumed its operations at full capacity.

Metal Packaging Market: Competitive Landscape and Key Developments

Ball Corp, Crown Holdings Inc, Dayal Metal Containers Factory LLC, Saudi Can Co, Saudi Arabian Steel Can Manufacturing Co, Mahmood Saeed Beverage Cans & Ends Industry Co Ltd, Consolidated Can Manufacturing Co Ltd, Southern Can Making Co Ltd, ZND Metal Cans, and Tengeh Noor Canvas Industry Co are a few players operating in the global metal packaging market. Players operating in the global metal packaging market focus on providing high-quality products to fulfill customer demand.

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