The global metal can industry is set to witness steady expansion over the next decade, with the market value projected to rise from US$ 40.4 billion in 2024 to US$ 49.3 billion by 2034, reflecting a compound annual growth rate (CAGR) of 2%.
Core Concepts in the Metal Can Industry
- Market Size in 2024: The metal can industry is estimated to account for US$ 40.4 billion in 2024.
- Growth Rate: The industry is projected to register a CAGR of 2% throughout the forecast period.
- Expected Value by 2034: By 2034, the metal can industry is forecast to be worth US$ 49.3 billion.
- Significant Product Type: F-style steel cans are expected to acquire a considerable value share in the market.
- Growth Opportunities: India is projected to find significant growth prospects in the metal can industry.
- Leading Companies: Key players include Berlin Packaging Company, Crown Holdings, Inc., and SKS Bottle & Packaging, Inc.
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 Trends and Highlights from the Metal Can Industry Report
- Rising Popularity of Sustainable Packaging
Metal cans are increasingly being recognized as a sustainable packaging solution amid growing social, economic, and environmental concerns. The demand for environmentally friendly packaging has made metal cans a preferred choice for both consumers and businesses. - Increased Adoption of Aluminum
Aluminum is emerging as the material of choice for metal can manufacturers due to its lightweight, recyclable properties, and ability to preserve product quality. This trend is expected to drive large-scale aluminum can production in the coming years. - Consumer Awareness on Non-Carcinogenic Packaging
Growing consumer knowledge about the health risks associated with certain packaging materials has significantly boosted the demand for metal cans, which are free from carcinogenic elements and provide safe packaging for food and beverages. - Expanding Applications in Ready-to-Eat Foods and Beverages
The surging global demand for ready-to-eat (RTE) foods and beverages, particularly alcoholic and non-alcoholic drinks, is driving innovation in metal can designs. Developing countries are seeing a marked rise in packaged food consumption, further fueling the demand for metal cans. - Regional Insights and Diverse Applications
- In the Asia Pacific (excluding Japan), metal cans are widely used for oil packaging.
- In the Middle East, they find extensive applications in packaging non-food products such as cosmetics, pharmaceuticals, and industrial goods.
- Focus on Healthy and Sustainable Packaging
Investments in advanced technologies and processes are shaping the future of the metal can industry. Manufacturers are emphasizing packaging solutions that meet evolving consumer preferences while adhering to ecological sustainability standards.
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.
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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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