The food tin and drink can industry is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 4.5% through 2032. In 2022, the market already reached a value of US$ 2.25 billion and is expected to soar to US$ 3.49 billion by 2032. This growth is largely attributed to the changing consumer landscape, characterized by an increasing trend of dining out and the need for convenient, portable food options while on the move.
One of the driving forces behind this growth is the modernization of consumer lifestyles, prompting manufacturers to prioritize high-quality food-grade containers in their production processes. These containers offer a reliable means of preserving food without the need for refrigeration, ensuring year-round access to seasonal products. Additionally, with the global movement towards reducing plastic waste, the food packaging industry sees a significant opportunity in transitioning to food tins and drink cans as eco-friendly alternatives. Manufacturers are increasingly recognizing these advantages, leading to a greater focus on developing and marketing products within this thriving market segment. As consumer preferences continue to evolve, the food tin and drink can market are well-positioned to cater to their demands for convenience, sustainability, and quality.
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Global Food tin and Drink cans Market: Drivers and Restrains
Most countries across globe have started to invest in infrastructure such as deep freezing mechanism which is required for proper storage of ready to consume food and keep food temper resistant with increased shelf life. Food tins and drink cans are becoming an asset in packaging for manufactures as they incur very less cost packaging solution and thus provide value to the manufacturers. Also, these tins and cans can be manufactured in large quantity in any size and shapes. This all derives tins and cans market all across the globe.
On the other hand, people across world has grown health conscious and thus avoids consumption of an industrial chemical called Bisphenol A or BPA which can seep into food and beverage stored in tins and cans leading to diseases such prostate and breast cancer thus hampering growth of food tin and drink can market. Moreover, the inclination of manufacturers as well as customers towards new pouches and thin plastic packaging, hampers the growth of metal food tin and drink can market. Also, customers want packaging with features such as tins and cans to be used in the microwave, re-sealable packaging and also easy opening patterns. This has acted as the important restraining factors for the metal packaging container market.
Global Food tin and Drink cans Market: Segmentation
The Global food tin and drink cans market has been segmented as follows
- Based on the material used
- Steel tins and cans
- Aluminum tins and cans
- Tin Plate tins and cans
- On basis of product type
- 3-Piece cans
- 2- Piece cans
- Single drawn cans
- Drawn and re-drawn cans (DRD)
- Draw and wall ironing cans (DWI)
- Based on the end use
- Dairy products
- Fruits & vegetables
- Ready meals
- Pet food
- Fish and seafood
- Others
- On the basis of packaging types
- Round tins and cans
- Bowl tins and cans
- Shaped tins and cans
Global Food tin and Drink cans Market: Segmentation overview
The majority of cans and tins used for food and beverage packaging all over the world are made up of steel. Aluminum cans are mostly preferred in beverage packaging mostly for carbonated drinks.
Global Food tin and Drink cans Market: Regional overview
Geographically, the food tins and drink cans market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). Among regions mentioned above, North America bags a significant share and it is expected to maintain as market leader during the forecast period as it provides a better freezing facility for the storage of food tins and drink cans. Asia’s Food and Beverages market shall experience an unprecedented growth taking half of the consumption by 2021 thus contributing to growth of global food tins and drinking can market. Overall, the global food tin and drink can market is expected to register a healthy CAGR during the forecast period.
Global Food tin and Drink cans Market:Key players
Some predominant players identified across the globe are Crown Holdings, Cansmart, Silgan Containers LLC, Jamestrong Packaging, Kian Joo Can Factory Bhd, Perennial Packaging Group Pty Ltd, Allstate Can Corporation, TinPak (Pvt) Ltd. and BALL CORPORATION.
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Regional analysis include
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- Latin America (Brazil, Rest Of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Rest Of Western Europe)
- Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia Pacific excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- TheMiddle East and Africa (GCC countries, S. Africa, Rest Of MEA)
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