The global metal packaging market 2020 is witnessing a decent growth rate from the last couple of years. The demand for metal packaging is estimated to be affected by the rising utilization of beverages and the need for aerosol cans. The worldwide metal packaging market is anticipated to value USD 150.69 billion by 2025 and expanding at a CAGR of 3.36% during the review period.
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The increasing demand from the food and beverage markets seems to propel the general expansion of the packaging industry. The dearth of time and small family sizes are increasing the requirement for canned food beverages, and hence, affecting the expansion in the metal packaging market at a global level. Development in packaging technology, which helps in providing metal cans with better functional and storage characteristics, has also been an important factor propelling the market expansion in the beverages' end-use vertical. Metal packaging is broadly utilized in non-alcoholic and alcoholic drinks. But the rise of the market may be obstructed by elements like environmental concerns about steel mining and increased material price.
COVID-19 Analysis
COVID-19 outbreak has led to significant revenue loss for the metal packaging market, given the economic crisis and the ceasing of manufacturing activities. Therefore, the shutdown of processes and activities due to the lockdown has resulted in the demand for packaging plummeting at a rapid speed across the globe, in line with the COVID-19 impact.
However, the balance has been somewhat restored by the industrial customers who have stockpiled intermediate bulk containers as well as drums, leading to a provisional need. Packaging for food and pharmaceutical industries continue to note substantial demand, providing some respite to the market post SARS-CoV-2. The escalating use of corrugated packaging for e-commerce and grocery deliveries can also counterbalance the pandemic induced loss in the market.
Also, post the outbreak of novel coronavirus, the demand for metal packaging has noted a rebound in multiple industries, such as personal care, chemical, and food beverages, which can be a lucrative opportunity for the market during these times.
Market Segmentation
The metal packaging market can be considered for material, type, as well as application.
The material-dependent segments include steel, aluminum, and more. In 2018, steel recorded the best growth in the market, while aluminum recorded the highest growth rate. The heightened demand for carbonated soft drinks, energy drinks and beer is the main reason for the high growth rate of the aluminum segment.
The types of metal packaging include caps closures, drums barrels, cans, and others. Cans type lead the global market, garnering high popularity in developing countries in light of the rising demand for beverages.
Metal packaging’s primary applications are personal care, food beverages, healthcare, chemical, and others. The food beverages application can be considered as the top segment in the market, as metal packaging helps boost the shelf life of the products and protects them from oxygen, bacteria as well as light.
Regional Insight
The regions across which the metal packaging market is expected to maintain varying levels of growth include Europe, APAC or Asia Pacific, North America, and RoW or Rest of the world.
In 2018, while North America headed the global market, Europe and APAC held the second and third position respectively.
The growth of the North American market largely depends on factors like high intake of packaged food as well as beverages, particularly the hike in the consumption of canned vegetables and fruits. The prevalence of the 'on-the-go' lifestyle of the people also bolsters the market growth, especially in the United States (U.S), which is the most lucrative market in the region.
APAC, with the fastest expansion rate, is racing ahead on the back of growing number of soft drink manufacturers, and the increasing popularity of aerosol cans in cosmetics, automotive, household care and industrial sectors. Rising use of the latest production technologies combined with the mounting product innovation and launches also buoy the market position in the region. The burgeoning urban population and the escalating disposable income are also instrumental in pushing the demand for canned food products, which translates into substantial growth of the metal packaging market in the region.
Leading Players
Leading players listed in the study include HUBER Packaging Group GmbH (Germany), CPMC Holdings Limited (China), CAN-PACK SA (Poland), Crown Holdings Inc. (the US), Ball Corporation (US), Silgan Holdings Inc. (US), Ton YI Industrial Corporation (Taiwan), Ardagh Group (Ireland), and more.
In addition to the above mentioned players, the market also consists of companies like Toyo Seikan Group Holdings (Japan), Emballator Metal Group (Sweden), Greif Inc. (US), BWAY Corporation (US), Metal Packaging Europe (Belgium), to name a few.
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Recent News
May 2020
Hermès has ventured into the cosmetics segment with the launch of a line of 24 shades of lipsticks that are encased with rechargeable metal packaging.
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