The global metal containers market is projected to expand considerably over the forecast period. The market is being driven by the significant rise in health awareness among. Metal containers are highly preferred for food packaging especially to avoid the risk of contamination, while preserving the nutritional properties of food inside.
There has been an increasing demand for metal containers due to the awareness regarding the importance of sanitary packaging in the food and beverages industry. Initially used only to pack canned foods, more outlets have begun using metal containers for packaging fresh foods due to their high barrier protection and ecofriendly conditions.
According to Future Market Insights (FMI), during the forecast period of 2020-2030, the market for metal containers is expected to grow at a CAGR of 6%. With increasing cautiousness in regards to sanitation, customers prefer metal packaging as they are airtight and eliminate the risk of tampering.
Food and beverages packed using metal containers last longer and the containers are recyclable, which makes it a profitable option in the long run. Using metal containers gets rid of the need for an additional packaging because the containers are strong and durable.
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KEY TAKEAWAYS
- The metal containers market is expected to grow at 6% CAGR from 2020-2030
- The market is projected to reach a valuation of $10 billion by the end of 2020
- Among product types, the intermediate bulk containers segment is projected to account for over half of the market share by the end of the forecast period
Though a decrease in market is projected in 2020-2021 due to the pandemic, rapid growth is predicted 2022 onwards.
Regarding the metal containers market, an FMI analyst said, “Many industries are taking on the Green initiative, which benefits both the environment and the society. Metal containers are beneficial for the environment because of their reusable design. For instance, when a metal container is no longer useful, it can be easily recycled and turned into another metal container. They are a great investment to have for any heavy duty storage needs and can generally be sold fast.”
COVID-19 IMPACT ANALYSIS
The ongoing pandemic has negatively affected a lot of different sectors including the metal containers market. The decline in business of end-use industries has affected the demand and production of metal containers. The market is expected to see a downward drop during the 2020-2021 period but is projected to get back on track from 2022 onwards.
The need for well packaged items in the food and pharmaceutical industries has increased demand for metal containers for food. With people’s lifestyle changing to a more health and safety cautious one, the need for minimum error packages is high and will benefit the metal containers market.
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Who Is Winning?
Some of the leading players in the metal containers industry are Ball Corporation, CCL Industries Inc., CPMC Holdings Ltd., Crown Holdings Inc., Mauser Packaging Solutions, Montebello Packaging Inc., HUBER Packaging Group GmbH and Great Western Containers Inc.
South and East Asia are expected to amass larger shares in the market. Increasing popularity of aluminum and tin packaging will be beneficial to the market economy. The market in Middle East and Africa is expected to grow due to the increasing use of metal containers in the chemical industry.
Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
5. Global Metal Containers Market Demand Analysis 2015–2019 and Forecast, 2020–2030
5.1. Historical Market Volume ( Mn Units) and Value (US$ Mn) Analysis, 2015–2019
5.2. Current and Future Market Volume (Mn Units) and Value (US$ Mn) Projections, 2020–2030
5.3. Y-o-Y Growth Trend Analysis