Technavio analyzes that the Metal Packaging Market is expected to grow at a CAGR of 2.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 19.9 billion.There are various factors that contribute to the growth of the market. The pharmaceutical sector is witnessing a significant increase in demand for metal packaging. This trend is driven by the advantages offered by metal containers, such as superior protection against contamination, enhanced durability, and easy recyclability. Metal packaging is increasingly being preferred for its ability to ensure product safety and extend shelf life, making it an ideal choice for the sensitive pharmaceutical industry.
Metal packaging, specifically IBCs, drums, metal cans, storage cans, aerosol cans, and closures, plays a crucial role in safeguarding food products from external influences and potential damage. The versatility of metal as a packaging material is unparalleled, offering a combination of barrier properties, physical protection, recyclability, and consumer acceptance. In response to evolving consumer preferences, market leaders like Crown Holdings innovate and produce advanced metal packaging solutions. For instance, their offerings include Peelfit cans, CrownSecure, PeelSeam peelable ends, and Easylift easy-open ends, catering to the growing demand for convenient food options in the market. These solutions maintain the integrity of the contained products while ensuring ease of use for consumers.
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Metal Packaging Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Metal Packaging Market encompasses the production and sale of metal packaging solutions, including aluminum and steel containers, for various industries. Canned food and beverages are major applications, but metal packaging also serves personal care, industrial, and consumer goods sectors. Attractive printing and coatings enhance the appeal, while convenience packaging, heavy-duty containers, and closures ensure product protection. Industrial applications include IBCs, drums, and bulk containers for chemicals, lubricants, and agricultural products. Corrosion resistance is a key feature, and environmental awareness drives the use of recycled metal cans. Beverage consumption, aerosol cans, and the beer market are significant segments. Net-Zero Emissions is a growing trend, with metal packaging offering sustainable solutions.
The metal packaging market encompasses various sectors, including canned food, beverages, personal care, and industrial applications. Key raw materials include aluminum and steel, which offer advantages such as attractive printing, chemical stability, and corrosion resistance. The supply chain involves multiple layers, including raw material suppliers and providers of metal container raw materials like aluminum and steel, as well as glass and plastic container raw materials such as borosilicate, neutral glass, soda-lime-silica glass, treated soda-lime glass, de-alkalized soda-lime glass, high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC). Manufacturers produce heavy-duty containers and convenience packaging on a large scale to meet market demand, while distribution channels ensure delivery to end-users.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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