South Africa Metal Packaging Market Size

South Africa Metal Packaging Market Analysis

The South Africa Metal Packaging Market is expected to register a CAGR of 5.1% for the forecast period. With a significant share of metal in the packaging market, the food and beverage industry is witnessing demand recovery post the sharp decline during the COVID-19 pandemic. There has been an increasing demand for packaged food products such as meat, vegetables, and fruits. The South African metal packaging market is predicted to rise steadily due to growing applications in various industries such as food and drinks, personal care, healthcare, home & consumer, and industrial.

• The increased desire for a zero-waste lifestyle through plastic-free, sustainable, and eco-friendly alternatives has shifted the packaging industry. Growing consumer awareness of the usage of non-carcinogenic materials in packaging and increased demand for lightweight packaging are increasing the metal cans market's growth prospects.
• The rise in packaged food and beverage consumption, especially canned fruits and vegetables, and the on-the-go trends of millennials might be driving factors for the growth of the metal packaging market globally. At the same time, the growth of the pharmaceutical and cosmetics industries in the market also impacts the metal packaging industry growth in the South Africa market. However, the presence of alternate packaging solutions and shortage of raw materials can hinder the market's growth.
• The spread of COVID-19 hampered the growth of Africa's Canned Food. It may have a cascading effect over the next few years owing to food shortage, closure of medium and small businesses, and supply chain disruptions due to the complete lockdown and suspension of production activities during the lockdown period across the region. In April 2021, the pandemic hit the South African aluminum can, end, and tab stock supplier Hulamin quite severely. Sales at Hulamin suffered a 24 % volume decline as a direct consequence of the coronavirus pandemic.
• In many regards, can makers profitably meet the challenges of the pandemic, stepping up production to record levels? They managed to do that despite supply-line disruptions lengthening delivery times for products, parts, and machinery and increased transport costs pushing up prices for new equipment. Those headwinds put at risk canmakers' plans to meet an anticipated continuation of rising.
• The current Ukraine-Russia war has created a new multifaceted risk to the South African economy. The war exacerbates supply chain bottlenecks and inflationary pressures via higher energy and food prices which could result in a more rapid tightening of monetary policy and impose additional fiscal pressures. Mounting inflationary pressures and rising interest rates will hurt discretionary income and negatively impact consumer spending, economic growth, employment, poverty, and food security.