Metal Packaging Market: Global Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

Description

Metal Packaging Market Size is anticipated to be valued at USD 105.7 Billion in 2021 and is expanded to grow at a significant CAGR of 2.9% over 2022-2028. Packing that employs metal act as a strong barrier and plays a significant role in food preservation. The growing popularity of using metal packing for canned food enhances consumption because there is an excellent demand for canned food, especially in busy urban areas. Metal packing is also widely used in the fragrance sector because of its capacity to handle high pressure and durability. Furthermore, the expanding popularity of luxury products in metal packaging, such as cookies, coffee, tea, and other items, results in an increase in the use of metal-based packaging. The pharmaceutical and cosmetics industry is propelling the growth of the market as metal protects the products from the external environment and acts as a barrier. The use of Aluminum and steel metal for metal packing provides new opportunities as they are hundred percent recyclable and protect food from contamination. Based on material type accounted for the larger share. Aluminum is the most prevalent metal used in packaging, and it’s flexible and supports unique shapes and styles for creative packaging. The growing demand for Aluminum cans in the United States and Europe also boost the growth of this segment. Based on application, the food and beverages segments held the highest share in 2021.

Recent Market Developments:

In August 2021, Ardagh Metal Packaging S.A. a leading provider of sustainable and infinitely-recyclable beverage cans, and Gores Holdings V, Inc. a special purpose acquisition company sponsored by an affiliate of The Gores Group, announced the completion of their previously announced business combination

In Sep 2021, Silgan Holdings Inc.  a leading supplier of sustainable rigid packaging solutions for consumer goods products announced that it has acquired Unicep Packaging. As a Specialty Contract Manufacturer and Developer (SCMD) solutions provider, this business develops, formulates, manufactures, and sells precision dosing dispensing packaging solutions, such as diagnostic test components, oral care applications, and skin care products, primarily for the health care, diagnostics, animal health, oral care, and personal care markets.