Global metal packaging market has no ceiling

The packaging industry is gaining ground: Global market for metal packaging has no ceiling

According to a recent report, the global metal packaging market is expected to reach close to $124.9 billion by 2023, rising to approximately $239.4 billion by 2033. This reveals the dizzying and significant growth in this industry over the next decade. In addition, the share of packaging made of metal is estimated to grow at a compound annual rate of 5.90% in the period from 2023 to 2033.

Sustainability continues to be a major concern in the packaging industry, with a notable trend towards the use of environmentally friendly inks and coatings on metal packaging. These materials are made from renewable resources, which helps reduce environmental impact. Brands that adopt these solutions demonstrate their commitment to sustainability and appeal to environmentally conscious consumers. This can enhance brand image, increase customer loyalty and attract a growing consumer base interested in sustainable products and packaging.

With the increase in the elderly population worldwide, companies are taking steps to adapt their packaging to the demands of these consumers. Incorporating easy-to-open mechanisms, larger and more legible labeling, and ergonomic designs can improve the user experience for older customers. By following this trend, companies are catering to an increasingly large part of the population and showing their commitment to diversity and accessibility.

Summary of the main conclusions of the above-mentioned market report on metal packaging. In 2018, the total market value globally reached a figure of $105.4 billion.

The market grew at a compound annual growth rate (CAGR) of 2.7% between 2018 and 2022. According to 2022 data, the total value of the global market reached US$ 117.7 billion.

In the year 2023, the can section obtained 33.6% of the market shares. Also during the past year, the food and beverage sector had a 40.3% market share presence. The market in India is expected to grow at a compound annual growth rate of 8.2% through 2033. The study also forecasts that the market in Germany will grow at a steady rate of 4.1% each year until 2033.

The market in the United Kingdom is also forecast to grow at an annual rate of 6.1% through 2033. The market in Canada is expected to grow at a compound annual growth rate of 5.5% through 2033. In addition, the market in China is estimated to grow at a compound annual growth rate of 7.4% through 2033.