Metal Packaging Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 154.29 Billion |
| Market Size (2029) | USD 183.59 Billion |
| CAGR (2024 - 2029) | 3.54 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Metal Packaging Market Analysis
The Metal Packaging Market size is estimated at USD 154.29 billion in 2024, and is expected to reach USD 183.59 billion by 2029, growing at a CAGR of 3.54% during the forecast period (2024-2029).
- The metal packaging market exhibits resilience and growth, propelled by factors such as increased industrial activities, expanding food and beverage consumption, and growing environmental awareness. Industrial metal packaging, such as IBCs, bulk containers, drums, and closures, maintains steady demand from industries like chemicals, lubricants, and agricultural products due to its durability and protective qualities.
- The metal cans segment experiences robust growth, driven by rising demand for storage cans in packing food and beverages. Additionally, increasing demand for aerosol cans in industries such as cosmetics, automotive, industrial, paints and varnishes, and pharmaceuticals contributes to this growth.
- The shift toward sustainable packaging solutions enhances the adoption of metal packaging, given its recyclability and environmental benefits. With evolving consumer preferences and regulatory measures favoring eco-friendly packaging, the metal packaging market is set for continued expansion, offering opportunities for innovation and collaboration among industry players worldwide.
- Metal, being infinitely recyclable and economically valuable, can unlock the full potential of packaging. It can help build and accelerate brands while appealing to environmentally conscious consumers, particularly millennials. Today's consumers demand more customized products and are increasingly concerned with environmental sustainability.
- Aerosol can packaging is highly recyclable and retains its physical properties, ensuring its availability for future generations. As more companies adopt aerosol cans for their products, this packaging type's future appears promising.
- Metal containers, particularly those made of steel and aluminum, provide exceptional durability and protection, making them the preferred choice for industries that prioritize product integrity.
- The continued global expansion and industrialization, especially in developing economies, are expected to stimulate demand for industrial lubricants and fluids. This trend is expected to increase the requirement for reliable and robust packaging solutions, positioning metal packaging for significant expansion.
- The packaging of industrial lubricants, oils, and fluids has evolved significantly due to fluctuations in material availability, rising costs, and advancements in packaging components and functional design. Sustainability has become an increasingly critical aspect of lubricant packaging as the industry prioritizes environmentally responsible practices.
- Metal packaging faces significant competition from alternative packaging solutions. Substantial investments in the development of biodegradable plastics impede the market's growth. Plastic is often preferred due to its economic advantages over metal. Plastic drums are lighter than steel drums, making them easier to move and transport. Additionally, plastic barrels have lower shipping costs than metal drums due to their weight difference.
Metal Packaging Market Trends
Beverage Cans are Expected to Witness Major Growth
- Metal cans, particularly for alcoholic beverages, have gained significant popularity due to their practical benefits and alignment with consumer preferences. These cans offer standard portion sizes, facilitating easier alcohol intake monitoring, especially for high-alcohol content drinks. The lightweight nature of aluminum makes it ideal for beverage packaging, enhancing transportability while reducing transportation costs and carbon emissions.
- New product launches in the non-alcoholic beverage industry contribute significantly to the growth of the metal can market. In January 2023, PepsiCo introduced Starry, a lemon and lime carbonated soft drink packed in cans. Similarly, Monster Energy Ltd launched new zero-sugar beverages in aluminum cans, further driving demand for metal packaging.
- Aluminum cans are gaining traction due to their recyclability, thermal conductivity, and lightweight properties. Beverage brands are increasingly adopting metal cans in response to growing environmental concerns about plastic packaging. According to The World Counts, global beer and soda consumption amounts to approximately 180 billion aluminum cans annually, equivalent to 6,700 cans per second, which could encircle the planet every 17 hours.
- The increasing health awareness among consumers has led to a surge in demand for energy drinks and, consequently, metal cans. Consumers are now more conscious of their sugar intake, driving the need for sugar-free, natural, and organic beverages. This shift in consumer preferences has been a key factor in the growth of the metal cans market within the non-alcoholic beverage industry.
- Red Bull, a leading energy drink brand in the United States with approximately 39.5% market share, reported sales of 12.10 billion cans in 2023, an increase from 11.60 billion cans in 2022.
Asia-Pacific is Expected to Register the Fastest Growth
- China boasts one of the world's largest metal packaging markets, supported by its substantial manufacturing and consumer goods industries. The demand for metal packaging is primarily driven by the food and beverage, pharmaceutical, cosmetic, and home goods industries.
- China has experienced an increase in the adoption of sustainable packaging solutions, influenced by growing environmental awareness and regulatory measures. Manufacturers are exploring environmentally friendly options such as recyclable metals and eco-friendly can coatings. Stricter environmental regulations and consumer demand for sustainable packaging are expected to drive the development of recyclable materials and environmentally conscious production processes.
- In October 2023, Budweiser Brewing Company APAC Limited launched a "Can-to-Can" recycling program in China. This initiative aims to increase the use of recycled aluminum cans and contribute to the company's goal of reducing carbon emissions by 35% by 2025. The company has committed to leading efforts toward China's carbon reduction targets and achieving net-zero emissions across its value chain by 2040. China's national goals of peaking carbon dioxide emissions before 2030 and achieving carbon neutrality by 2060 are expected to further stimulate the growth of metal packaging solutions in the country.
- India's can and industrial metal packaging market has been experiencing steady growth, driven by the expansion of the country's paint and coating, personal care, and food and beverage industries. Metal packaging solutions are valued for their strength, recyclability, and barrier properties. These characteristics make them popular in industries such as food and beverage, pharmaceuticals, personal care, and chemicals, including paints and coatings.
- Innovations in technology and manufacturing processes have enhanced the quality, efficiency, and customization capabilities of metal packaging solutions in India. As the world's sixth-largest economy and rapidly industrializing nation, India is creating new opportunities for businesses of all sizes. This economic growth is expected to drive further expansion in the country's metal packaging market.
- According to Hong Kong Exchanges and Clearing Limited, energy beverages accounted for the majority of the market, with retail sales of around USD 11.11 billion in 2019. The value of retail sales of energy drinks was expected to exceed USD 17.61 billion by 2024.
- As the energy beverage market grows, the demand for packaging solutions, including metal cans, will rise correspondingly. Energy drinks are commonly packaged in metal cans due to their durability, lightweight nature, and ability to preserve the beverage's freshness. This increase in demand directly benefits the metal packaging industry.
Metal Packaging Industry Overview
The metal packaging market is fragmented, consisting of significant players such as Ball Corporation, Crown Holdings Inc., Silgan Holdings Inc., Can-Pack SA (CANPACK Group), and Ardagh Metal Packaging SA (Ardagh Group). The key players in the market are focusing on increasing their market presence by introducing new products, expanding their operations, or entering strategic mergers and acquisitions.
- June 2024: Sonoco Products Company, a global manufacturer of sustainable packaging, agreed to acquire Eviosys, a European provider of food cans, ends, and closures, from KPS Capital Partners for USD 3.9 billion. Sonoco stated that this acquisition will advance its strategy to concentrate on and expand its core businesses while investing in high-return opportunities, both through internal growth and external acquisitions.
- February 2024: Ardagh Metal Packaging announced its collaboration with Britvic Soft Drinks. It also announced the launch of the innovative high-end design for the brand’s new Tango Mango cans. The high-end, eye-catching design will help the brand elevate the consumer experience through visual appearance.
- November 2023: Mauser Packaging Solutions agreed to acquire Taenza SA de CV, a manufacturer of tin-steel aerosol cans and steel pails based in Mexico. The acquisition strategy will help the company better serve its customers by combining Taenza’s expertise and strong local presence.
- October 2023: Colep Packaging announced a joint venture with Envases Group to build an aerosol packaging plant in Mexico. This will help the company combine expertise to serve North and Central American customers and remain competitive by expanding production capacity and portfolio.
Metal Packaging Market Leaders
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Ardagh Metal Packaging SA (Ardagh Group SA)
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Ball Corporation
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Crown Holdings, Inc.
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Can-Pack S.A.
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Silgan Holdings Inc.
*Disclaimer: Major Players sorted in no particular order
Metal Packaging Market News
- July 2024: AkzoNobel launched Securshield 500, a new range of metal packaging coatings for the food can manufacturing industry. This next-generation product line is free from bisphenols (BPXni*) and PVC, supporting the metal packaging industry's transition toward more sustainable solutions. The introduction of Securshield 500 demonstrates AkzoNobel's commitment to developing environmentally friendly alternatives for food packaging manufacturers.
- February 2024: Hart Print, a subsidiary of Ardagh Metal Packaging that digitally prints aluminum cans, expanded its presence in the United States by opening its third production facility in Maryland. To meet the region's demand, the company aims to increase its annual printing capacity by at least 100 million cans.
- October 2023: Ball Aluminum Cups and Denver Arts & Venues announced the installation of a reverse vending machine, RVM, in Red Rocks Amphitheatre's Top Plaza to improve aluminum recycling at the venue. RVM aims to increase recycling rates at Red Rocks and inform consumers about the benefits of using aluminum.
Metal Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Impact of Geopolitical Scenario on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 High Recyclability Rates of Metal Packaging
5.1.2 Convenience and Lower Price Offered by Canned Food and Beverage
5.2 Market Restraints
5.2.1 Presence of Alternate Packaging Solutions
6. MARKET SEGMENTATION
6.1 By Material Type
6.1.1 Aluminum
6.1.2 Steel
6.2 By Product Type
6.2.1 Cans
6.2.1.1 Food Cans
6.2.1.2 Beverage Cans
6.2.1.3 Aerosol Cans
6.2.2 Bulk Containers
6.2.3 Shipping Barrels and Drums
6.2.4 Caps and Closures
6.3 By End-user Industry
6.3.1 Beverage
6.3.2 Food
6.3.3 Cosmetics and Personal Care
6.3.4 Household
6.3.5 Paints and Varnishes
6.4 By Geography***
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 United Kingdom
6.4.2.2 Germany
6.4.2.3 France
6.4.2.4 Spain
6.4.2.5 Italy
6.4.3 Asia
6.4.3.1 China
6.4.3.2 India
6.4.3.3 Japan
6.4.3.4 South Korea
6.4.3.5 Australia and New Zealand
6.4.4 Latin America
6.4.4.1 Brazil
6.4.4.2 Mexico
6.4.4.3 Argentina
6.4.5 Middle East and Africa
6.4.5.1 United Arab Emirates
6.4.5.2 Saudi Arabia
6.4.5.3 South Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Ardagh Metal Packaging SA (Ardagh Group)
7.1.2 Ball Corporation
7.1.3 Crown Holdings Inc.
7.1.4 CANPACK SA (CANPACK Group)
7.1.5 Silgan Holdings Inc.
7.1.6 Greif Inc.
7.1.7 TUBEX Packaging GmbH
7.1.8 Mauser Packaging Solutions
7.1.9 Nampak Limited
7.1.10 Colep Packaging
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Metal Packaging Industry Segmentation
Metal packaging is a long-lasting industrial and consumer packaging solution comprised mostly of two key materials, i.e., steel and aluminum. The scope of the metal packaging market is limited to B2B demand. Steel and aluminum packages have outstanding qualities like durability, flexibility, and cost-effectiveness, providing various advantages over other packaging solutions for specific industrial applications. Aluminum is a reasonably simple metal to sterilize for use in packaging. Due to its superior barrier protection and strength, it is an excellent choice for packing materials.
The metal packaging market is segmented by material type (steel and aluminum), product type (cans [food cans, beverage cans, and aerosol cans], bulk containers, shipping barrels and drums, caps and closures, and other product types), end-user industry (beverage, food, cosmetic and personal care, household, paints and varnishes, and other end-user industries), and Geography (North America [United States and Canada], Europe [United Kingdom, Germany, France, Spain, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], Latin America [Brazil, Mexico, Argentina, and Rest of Latin America], and Middle East and Africa [United Arab Emirates, Saudi Arabia, South Africa, and Rest of Middle East and Africa]). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Material Type | |
| Aluminum | |
| Steel |
| By Product Type | |||||
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| Bulk Containers | |||||
| Shipping Barrels and Drums | |||||
| Caps and Closures |
| By End-user Industry | |
| Beverage | |
| Food | |
| Cosmetics and Personal Care | |
| Household | |
| Paints and Varnishes |
| By Geography*** | |||||||
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Metal Packaging Market Research FAQs
How big is the Metal Packaging Market?
The Metal Packaging Market size is expected to reach USD 154.29 billion in 2024 and grow at a CAGR of 3.54% to reach USD 183.59 billion by 2029.
What is the current Metal Packaging Market size?
In 2024, the Metal Packaging Market size is expected to reach USD 154.29 billion.
Who are the key players in Metal Packaging Market?
Ardagh Metal Packaging SA (Ardagh Group SA), Ball Corporation, Crown Holdings, Inc., Can-Pack S.A. and Silgan Holdings Inc. are the major companies operating in the Metal Packaging Market.
Which is the fastest growing region in Metal Packaging Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Metal Packaging Market?
In 2024, the Asia Pacific accounts for the largest market share in Metal Packaging Market.
What years does this Metal Packaging Market cover, and what was the market size in 2023?
In 2023, the Metal Packaging Market size was estimated at USD 148.83 billion. The report covers the Metal Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Metal Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Metal Packaging Industry Report
Statistics for the 2024 Metal Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Metal Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Metal Packaging Market Report Snapshots
