Metal Packaging Market Is Likely to Experience a Tremendous Growth by 2031

 Global metal packaging market is anticipated to grow at a moderate CAGR of 3.3% during the forecast period (2024-2031).A major factor supporting the market growth is the growing usage of eco-friendly can metals, since most cans are made of aluminum, which is most cost-effective materials to recycle, is the major factor expected to drive market revenue growth. Almost all aluminum used in cans can be melted down and reused. Aluminum cans can be recycled without degrading quality, making them the preferred packaging material for businesses across a wide range of industries. Bauxite, a natural raw material, is used to make aluminum. Aluminum recycling lows previously mined aluminum to be reused and saves around 90.0% of energy required to extract metal from its bauxite source. Metal that is not recycled or disposed of will end up in a landfill or a scrapyard. However, recycling aluminum helps environment by reducing landfills and conserve natural resources and reduce amount of new aluminum generated.  Additionally, consumers prefer aluminium metal cans because of their low environmental impact due to growing environmental concerns. For instance, recycling steel and tin cans can save up to 74.0% energy savings. 102.2 million Americans consumed canned meat in 2019, using data from the US Census and the Simmons National Consumer Survey (NHCS). Throughout the forecast period, demand for canned food is anticipated to rise in India, China, and Brazil, which would positively impact the market's expansion.

Due to the high concentration of consumer goods and packaged goods manufacturers in North America, the region accounts for a significant share of the metal packaging industry. Because of this, the packaging industry is well-established in this region. For instance, according to the U.S. Census Bureau, in 2019, about 214.1 million Americans ate canned, jarred, or packaged fruit. Additionally, meat/poultry, yogurt, and juices are the most popular organic foods consumed or preferred by consumers in the US. The beverage market includes a variety of new specialty drinks in 8.2-ounce cans, such as energy drinks. The Beer Institute estimates that American brewers fill and sell around 36.0 billion bottles and cans of alumminum each year. 62.0% of the beer produced and sold in the US is in these cans.

Consumption rates in Asia and Southeast-Asia are rising steadily due to an increasing middle-class population, changing lifestyles, and changing consumer tastes. For instance, in June 2019, Hindalco Industries Ltd., a company of the Aditya Birla Group, Can-Pack India, and Ball Beverage Packaging (India), formed a consortium to popularize aluminum beverage packaging. The Alumminum Beverage Can Association of India (ABCAI) consortium promotes using aluminum instead of plastic and glass for packaging. Additionally, the association wants to increase the country's 5.0% use of aluminum cans to around 25.0% by 2030, enhancing the metal packaging market CAGR in recent years. The demand for can-packed products would sharply rise, given the growing importance of recycling and sustainable solutions. For instance, in 2021, Ball Beverage Packaging recently offered alcohol in 180 ml cans in Rajasthan, India. 

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Market Coverage

•The market number available for – 2023-2031

•Base year- 2023

•Forecast period- 2024-2031

Segment Covered- 

• By Material
• By Type
• By Application

Regions Covered-

•North America

•Europe

•Asia-Pacific

•Rest of the World

Competitive Landscape- Ardagh Group, Ball Corp., Crown Holdings, Inc., and Silgan Holdings Inc., among others.

 Metal Packaging Market Report Segment

By Material

•Steel  

•Aluminum

By Type

•Aerosols     

•Cans        

•Caps and Closures         

•Drums and Barrels

By Application

•Food    

•Beverages    

•Personal Care      

•Health Care   

•Paints & Varnishes

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Metal Packaging Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•Latin America

•Middle East and Africa 

Company Profiles

•Alcoa Corp.

•Amcor Plc.

•BERICAP Holding GmbH

•Bway Corp.

•CANPACK

•Colep Packaging (RAR Group Company)

•CPMC Holdings Ltd.

•Emballator Metal Group

•Greif

•MAUSER Corporate GmbH

•Metal Packaging Europe G.I.E.

•Nampak Ltd.

•Rexam Plc.

•Tata Steel

•TON YI INDUSTRIAL CORP.

•TUBEX Packaging GmbH

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