Market Size of North America Metal Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 37.41 Billion |
| Market Size (2029) | USD 43.56 Billion |
| CAGR (2024 - 2029) | 2.97 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Metal Packaging Market Analysis
The North America Metal Packaging Market size is estimated at USD 37.41 billion in 2024, and is expected to reach USD 43.56 billion by 2029, growing at a CAGR of 2.97% during the forecast period (2024-2029).
Metal packaging is gaining popularity in the North American region with the increasing consumption of canned food products to reduce the problem of food wastage and food loss along with the changing lifestyle of consumers. In addition to this, the adoption of metal cans for a variety of drinks, such as energy drinks, alcoholic drinks, and others, drives the sales of metal packaging products in the region. In April 2023, Kirin-owned New Belgium Brewing announced the launch of a hard juice seltzer-style beverage in the United States. The hard juice will be launched in metal cans.
- The trend for lightweight and recyclable packaging solutions among brand owners and consumers makes metal packaging products the ideal choice of packaging formats. Metal packaging products such as cans are convenient and on-the-go, especially for the food and beverage industry. Also, the trend for single-serve aids to the demand for metal cans for food and beverage products.
- The recyclability property of metal packaging products will help the brands achieve the recycling rate targets set by the Can Manufacturers Institute (CMI). The CMI had set a recycling rate of 45 percent in 2020 to a 70 percent recycling rate for aluminum beverage cans by the end of 2030 to 90 percent in 2050.
- The use of metal packaging is also increasing in other end-use industries, such as cosmetics, chemicals, paints, and others. The positive outlook of these industries in the North American region is expected to have a significant impact on the metal packaging market during the forecast period. The trend for decorative paint sprays in the automotive industry will push the sales of aerosol cans.
- Besides this, the availability of other packaging materials constituting similar properties with the advent of advanced technology is projected to create a market challenge for metal packaging manufacturers in the region.
