Metal Cans & PET Bottles Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

Introduction

The convenient packaging demand has been a significant factor in the growth of the metal cans & PET bottle market as it is essential for product protection and helps the consumer read about the instructions and directions to consume the product. Fortunately, product advancements have opened new avenues for the food & beverage industry and among consumers.

Rising profitability of production of metal cans due to surge in recycling

The global economy is headed towards becoming a low-carbon economy. Recycling of metal packaging is being perceived as a vital pillar of a transition towards a sustainable world. The demand for packaging such as aluminum and steel are growing in response to the rise in demand for food and beverage and other industrial products. According to the latest reports by European producers of steel for packaging (APEAL), almost 85.5% of the steel was recycled in 2020, and is anticipated to rise further in the future. Manufacturers have started to adopt recycling as a measure to save the cost of their production because by reusing metals such as aluminum and steel, a significant share of production and energy costs is being saved since new products are being formulated using recyclable waste material. This has also ramped up production leading to a shrinking of the gap between demand and supply, which has benefited the manufacturers of metal packaging.

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Rise in demand for convenient packaging among consumers

Consumption of beverage categories such as flavored & sparkling waters, energy drinks, craft beverages, juices, and other healthy beverages is surging because these beverages offer benefits beyond basic nutritional value. Metal cans are a natural fit for this segment, offering flavor and carbonation protection to these beverages and keeping the aesthetic appeal intact. Modern consumers, inclining significantly towards on-the-go consumption, are seeking more and more convenient packaging options that fit best with their busy lifestyles. According to a recent survey analysis, factors such as easy-to-store, single-serve, and attractive packaging significantly drive customer decisions when choosing beverages. This has led to a rise in demand for metal cans in the global beverages and food industry.

Fostering awareness and appeal through marketing by manufacturers

The younger generation or modern consumers of the global market are becoming increasingly aware of environmental sustainability, and metal can manufacturers are bridging the gap of communication. Metal can manufacturers are marketing packages to communicate consumers’ environmental responsibility while positioning their products as an appropriate alternative to safeguard environmental impacts from other packaging types. In addition to interactive packaging, most of the brands are running educational programs to convey a concise message of how steel and aluminum offer environmental advantages to raise the awareness quotient and acquire a majority share of consumers throughout the world. With the rise in awareness, customers’ willingness to pay a premium price for sustainable packaging is also rising. For example, the global average of customer willingness to pay more from socially responsible companies was 54% in 2021.

Conclusion

Metal Cans & PET Bottles industry is undoubtedly reshaping the landscape of the packaging industry outlook across the globe along with the food & beverage industry. Sustainability has become one of the integral functions of packaging, in addition to ensuring food quality and safety, facilitating transportation and logistics, and enabling communication. According to the UnivDatos Market Insights analysis, the rising profitability of the production and growing adoption of packaging methods will drive the global scenario of the Metal Cans & PET Bottles and as per their “Metal Cans & PET Bottles Market” report, the global market was valued at USD 70 billion in 2022, growing at a CAGR of 5% during the forecast period from 2023 - 2030 to reach USD XX billion by 2030.