The global metal can market is poised for steady growth, with a projected expansion from US$ 40.4 billion in 2024 to US$ 49.3 billion by 2034, representing a compound annual growth rate (CAGR) of 2%. Key trends and highlights from the metal can market report underscore the increasing popularity of metal cans packaging driven by social, economic, and environmental concerns, as well as growing consumer awareness about non-carcinogenic packaging elements.
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Key Highlights from the Metal Can Market Report:
- Shift Towards Sustainable Packaging: The metal can market is witnessing a rapid shift towards sustainable packaging solutions, with suppliers increasingly using aluminum to develop cans on a large scale. This trend is driven by growing environmental consciousness among consumers.
- Growing Demand for RTE Foods and Beverages: Surging global demand for ready-to-eat (RTE) foods and beverages, particularly alcoholic and non-alcoholic drinks, is driving new uses of metal cans. Additionally, the increasing desire for packaged food in developing countries is further boosting the use of metal packaging like cans.
- Product Diversification and Innovations: Manufacturers are focusing on product diversification and innovations to meet evolving consumer preferences and sustainability requirements. Investments in research and development activities are expected to accelerate improvements in metal can offerings.
Key Drivers of the United States Metal Can Market:
- Demand for Quick-to-Prepare Foods: The fast-paced lifestyle and hectic schedules of American residents are driving the sales of quick-to-prepare and ready-to-eat wholesome food packaged in metal cans.
- Preservation Benefits: Metal cans are preferred for their ability to preserve food for extended periods, contributing to their growing demand in the United States market.
- Vertical and Horizontal Integration: Regional players in the United States metal can market are increasingly engaging in vertical and horizontal integration strategies to expand their offerings. For example, Ardagh Metal Packaging’s acquisition of Hart Print in November 2021 aims to enhance its ability to serve emerging customers.
- Expansion of Manufacturing Facilities: Rising demand for aluminum cans has led to the construction of new metal can manufacturing facilities in the United States. Ball Corporation’s announcement of a new aluminum beverage packaging plant in September 2021 exemplifies this trend.
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Competitor Landscape
The entry of new players in the market among personal care and food and beverage products is expected to intensify the competition in the years to come. Moreover, the present and new players’ focus of innovative packaging is likely to be a lucrative strategy to capitalize on. The companies operating in the market are
- Rexam PLC,
- Silgan Containers LLC,
- Independent Can Company,
- Crown Holdings, Inc., and
- SKS Bottle & Packaging, Inc., among others.
Market Segmentation
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Material Type
- Aluminium
- Steel
- Tin
Fabrication Type
- Two Piece Can
- Three Piece Can
Application
- Alcoholic Beverages
- Non–Alcoholic Beverages (Aerated and Non-Aerated Beverages)
- Processed Dairy Food Products
- Other Processed Food Products
- Edible Oil
- Medicinal Tablets and Syrups
- Personal Care and Cosmetic Products
- Industrial Chemicals
End User
- Food & Beverages
- Pharmaceutical Industry
- Consumers Goods
- Chemical
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