Market Research Future (MRFR) expects the metal packaging market 2020 to reach a size of USD 150.69 billion by 2025. The market is all set to progress at a rate of 3.36% between 2019 and 2025 (appraisal period). We will provide covid-19 impact analysis with the report. The COVID-19 research on the metal packaging market offers an in-depth analysis post the coronavirus disease outbreak.
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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.
Growth Inducers and Main Barriers
Metal packaging has emerged as one of the most versatile commodities in commercial, retail, industrial and wholesale sectors. Two of the most commonly deployed metals in rigid metal packaging are aluminum and steel. Metal packaging has witnessed strong demand in the food & beverage sector in recent years, given its ability preserve potables and edibles from pathogens. Longer shelf life and nutrition intactness of the product are some of the properties of metal packaging that boosts its demand in the industry.
The boom in the demand for metal-based products in the healthcare sector, such as tablet wrappers, ointment tubes, metal sterilizers, trays, and others also presents the market with significant opportunities. The escalating demand for youth-centric products has boosted the use of three-piece as well as two-piece aluminum cans to a large extent, benefitting the worldwide market.
Expanding worldwide population and the consequent surge in the demand for food has compelled manufacturers to explore new design as well as manufacturing technologies, which can work in favor of the market. For example, Ball Corporation has successfully changed people see aerosol cans using its ReAL aerosol container technology. This technology makes use of recycled aluminum for creating a metal alloy that boosts the container’s strength and the package integrity remains intact.
The global metal packaging market has been divided on the basis of type, material, and application.
On the basis of type, the market has been segregated into drums & barrels, cans, caps & closures and others. The cans vertical seized the maximum market share of the worldwide metal packaging market. It is among the most utilized package types, and they have become widely famous in emerging and developed nations during the past some years due to the high demand for beverages. It is produced in several sizes and shapes, and are specifically used for several products such as beverages, food, personal care, and households.
On the basis of material, the market has been segregated as steel and aluminum. The steel segment sized the maximum market share in the worldwide metal packaging market in the year 2018. The aluminum vertical has a large growth rate and is estimated to experience the maximum CAGR during the review tenure due to the large demand beer, beer, energy drinks, and carbonated soft drinks.
On the basis of application, the market has been divided into healthcare, food & beverages, chemical, personal care, and others. The food & beverages vertical acquired the maximum market share of the worldwide metal packaging market because of several properties of the metal. It increases the shelf life of food & beverage products and gives protects from oxygen, light, and bacteria.
The worldwide metal packaging market has been segregated into Europe, Asia-Pacific, North America, and the Rest of the world (RoW). North America acquired the maximum share in the global metal packaging market, followed by Europe and Asia-Pacific in the year 2018.
North America had been the greatest market for metal packaging because of the fast-speed lifestyle resulting in convenience and easier packaging. The US players a key role in participating in the North American metal packaging market because of its larger dependency on canned and packaged foods and beverages. Asia-Pacific is the fastest expanding vertical, which exhibits huge growth opportunities for soft drink producers has been helping in expanding the metal packaging market.
The major competitors in the worldwide metal packaging market are Ardagh Group (Ireland), Crown Holdings, Inc. (the US), CPMC Holdings Limited (China), Silgan Holdings Inc. (US), Ton YI Industrial Corporation (Taiwan), Ball Corporation (US), HUBER Packaging Group GmbH (Germany) and CAN-PACK SA (Poland).
BWAY Corporation (US), Greif, Inc. (US), Toyo Seikan Group Holdings (Japan), Emballator Metal Group (Sweden) and Metal Packaging Europe (Belgium), are few other competitors engaged in the global metal packaging market.
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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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