The global metal packaging market size is poised to cross $124.9 billion in 2023 and is likely to attain a valuation of $239.4 billion by 2033, according to a new report.

The metal packaging market share is projected to rise at a CAGR of 5.90% from 2023 to 2033.

Safety is critical, especially for goods that potentially endanger children. Child-resistant packaging in the metal packaging industry is becoming increasingly popular, particularly in businesses such as medicines, cannabis, and home chemicals. These specific closures and mechanisms are intended to keep youngsters out, assuring product safety and regulatory compliance. Child-resistant metal packaging allows brands to present themselves as responsible and safety-conscious, appealing to both customers and regulators.

Sustainability is still an ongoing concern, a notable trend involving employing eco-friendly inks and coatings in metal packaging. These sustainable solutions are made from renewable materials, reducing environmental impact. Brands that use these inks and coatings correspond with sustainability goals and appeal to environmentally concerned customers. This can increase brand impression, consumer loyalty, and a rising customer base interested in eco-friendly products and packaging.

As the global population ages, businesses are responding to this demographic trend by adopting packaging that satisfies the demands of older consumers. Easy-open mechanisms, bigger and clearer labelling, and ergonomic designs can improve the user experience for senior clients. Companies that follow this trend serve a growing part of the population, displaying their dedication to diversity and accessibility.

Key Takeaways from the Metal Packaging Market Report:

• In 2018, the global market size stood at US$ 105.4 billion
• The market size expanded at a 2.7% CAGR from 2018 to 2022.
• In 2022, the global market size stood at US$ 117.7 billion.
• The cans segment captured 33.6% of market shares in 2023.
• The food & beverages segment occupied 40.3% of market shares in 2023.
• The market size in India will rise at an 8.2% CAGR through 2033.
• The market size in Germany will surge at a 4.1% CAGR through 2033.
• The market size in the United Kingdom will rise at a 6.1% CAGR through 2033.
• The market size in Canada will develop at a 5.5% CAGR through 2033.
• The market size in China will increase at a 7.4% CAGR through 2033.

“In the constantly changing landscape of the metal packaging market, innovation and sustainability have emerged as driving forces reshaping the industry’s trajectory. The market is no longer characterised exclusively by its traditional function of delivering safe and efficient containers. Instead, it has transformed, with a slew of new technologies prepared to push its frontiers,” said Ismail Sutaria, Principal consultant at Future Market Insights