The global canned food packaging market is anticipated to reach a value pool of US$ 27,887.9 Million in 2022, rising at a CAGR of 4.8% to attain a valuation of US$ 44,568.5 Million between 2022 and 2032. Growth is being fueled by technological development and increased consumer demand for packaged foods and beverages. Between 2016 and 2021, the market for the packaging of canned foods expanded at a CAGR of 3.3%. Food that has been processed or canned provides an excellent supply of nutrients, shields the food from the elements, and is hygienic. The most popular kind of canned food is packaged in metal because it is simple to use, transport, and eat.
Canned food packaging involves the use of metal cans, glass jars, and plastic containers to preserve food. The packaging helps in preserving the flavor, texture, and nutritional value of the food for an extended period, making it convenient for consumers to store and use. The canned food packaging market is segmented based on material, product, distribution channel, and region.
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One of the main drivers of the canned food packaging market is the increasing demand for convenience food, which has led to an increase in the consumption of canned food products. Additionally, the longer shelf life of canned food products compared to fresh food products has also contributed to the growth of this market.
Canned food packaging prevents the product from getting spoilt by protecting it from environmental factors and external stimuli like pollution and heat. This packaging offers greater security and extends the shelf life of the product. Canned food packaging is an affordable method of preserving perishable food items with little to no change in the flavor. Consequently, there is high demand for this packaging from the advancing horticulture and seafood processing sectors. Canned food products are also easy to consume and transport. In addition to this, easy access and increasing availability of canned goods fosters an environment of growth for the canned food packaging market during the period under observation.
“Large scale acceptance of canned food products due to protection against all kind of microbial contamination is likely to boost the sales of canned food packaging over the forecast period,” says an FMI analyst.
The recyclable and reusable property of the cans is another growth driver of the market. Again, canned food items are rising in popularity due to their nutritional value and hygiene quality. Moreover, factors like swiftly changing lifestyles, rising disposable income, affordable pricing of canned food products as well as the availability of a wide range of choices drives the canned food packaging market. Besides, incorporation of technological advancements in the packaging process have led to the generation of new techniques for packing canned food. This, too, bodes well for the canned food packaging market.
Key Takeaways:
- Heightened demand for ready-to-eat and seasonal food products fosters market growth for canned food packaging
- High manufacturing cost and a time consuming production process may impede the market growth.
- In 2022, canned food packaging market in North America is anticipated to account for 29% of the market share.
- Elevated demand for packed food drives the market in Europe over the assessment period.
- By type of food, the seafood segment is expected to dominate the market.
- Based on raw material, aluminum is expected to account for a high demand, exhibiting a CAGR of 4.5%
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Competitive Landscape
Ball Corporation, Del Monte Foods, Inc., Crown Holdings, Amcor Limited, Anchor Glass Container Corporation, Ardagh Group, Greif Incorporated, Toyo Seiken, Huber Packaging and Siligan Containers among others are some of the major players in the canned food packaging market that are profiled in the full version of the report.
In an extremely competitive market, major players are keen on expanding operations and entering new markets. These businesses are also engaged in product development so as to maintain a competitive advantage.
Challenges in Canned Food Packaging Market
The canned food packaging market faces several challenges, such as the increasing demand for fresh food and the negative perception of canned food.
- Fresh Food Trend- The increasing trend for fresh food and the perception that canned food is less healthy and less tasty than fresh food poses a challenge for the canned food packaging market. Manufacturers are developing packaging designs and materials that promote the nutritional value and taste of canned food.
- Negative Perception- The negative perception of canned food, such as the use of preservatives and the concern for BPA (bisphenol A) in metal cans, poses a challenge for the canned food packaging market. Manufacturers are developing packaging materials that are BPA-free and promoting the use of natural preservatives.
Opportunities in Canned Food Packaging Market
- Private Label Brands- Private label brands are gaining popularity in the canned food packaging market due to the lower cost and higher profit margin for retailers. Manufacturers are developing packaging designs and materials that can be easily customized for private label brands.
- E-commerce Channels- E-commerce channels are gaining popularity in the canned food packaging market due to the increasing demand for online shopping and the convenience of home delivery. Manufacturers are developing packaging designs and materials that are suitable for e-commerce channels, such as lightweight and durable packaging.
- Emerging Markets- Emerging markets, such as Asia-Pacific and Latin America, provide significant opportunities for the canned food packaging market due to the increasing population, urbanization, and rising disposable income. Manufacturers are developing packaging designs and materials that are suitable for these markets, such as smaller packaging sizes and localized designs.
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Key Segments Profiled in the Canned Food Packaging Industry Survey
Canned Food Packaging Market by Type of Food:
- Canned Fish and Seafood
- Canned Vegetables
- Canned Meat Products
- Canned Fruits
- Canned Ready Meals
- Milk and Sauces
- Beans and Legumes
- Other Canned Food Products
Canned Food Packaging Market by Distribution Channel:
- Canned Food Packaging for Supermarkets and Hypermarkets
- Canned Food Packaging for Independent Retailers
- Canned Food Packaging for Convenience Stores
- Canned Food Packaging for Specialist Retailers
- Canned Food Packaging for Other Distribution Channels
Canned Food Packaging Market by Raw Material:
- Aluminium Canned Food Packaging
- Steel Canned Food Packaging
- Tinplate Canned Food Packaging
- Glass Canned Food Packaging
- Plastic Canned Food Packaging
Canned Food Packaging Market by Types of Can:
- 3-piece Welded Food Packaging Cans
- 2-piece Food Packaging Cans
- D&I Food Packaging Cans
- DRD Food Packaging Cans
- Drawn Wall-Ironed Food Packaging Cans
- Single Drawn Food Packaging Cans
- Open Top Sanitary Food Packaging Cans
Canned Food Packaging Market by Preservation Technique:
- Pressurized Food Packaging Cans
- Vacuum Food Packaging Cans
Canned Food Packaging Market by Region:
- North America Canned Food Packaging Market
- Latin America Canned Food Packaging Market
- Europe Canned Food Packaging Market
- Asia Pacific Canned Food Packaging Market
- Middle East & Africa Canned Food Packaging Market
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