The global metal can market is poised for steady growth, with a projected expansion from USD 40.4 billion in 2024 to USD 49.3 billion by 2034, representing a compound annual growth rate (CAGR) of 2%. Key trends and highlights from the metal cans 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.
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 Highlights from the Metal Can Market Report:
- Rising Popularity and Demand: Metal cans are gaining wider popularity due to increasing social, economic, and environmental concerns, alongside growing environmental consciousness among consumers.
- Shift Towards Aluminum: Packaging suppliers are increasingly adopting aluminum for large-scale production of cans, driven by its recyclability and sustainability benefits.
- Consumer Preference for Non-Carcinogenic Packaging: Growing consumer awareness about the safety of packaging materials is boosting the sales of metal cans, which are considered non-carcinogenic.
- Emerging Uses: The global demand for ready-to-eat (RTE) foods and beverages, including alcoholic and non-alcoholic drinks, is expanding the applications of metal cans. Developing countries are witnessing increased adoption of metal packaging for packaged food products.
- Diverse Applications: Metal cans are extensively used for packaging food, cosmetics, paint, beverages, and other products. Regional variations include oil packaging in Asia Pacific (excluding Japan) and non-food products like drugs, cosmetics, and industrial goods in the Middle East.
- Future Outlook: Investments in technological advancements and growing demand for environmentally sustainable packaging solutions are driving innovation in metal cans. Manufacturers are focusing on developing packaging materials that align with consumer preferences for health and sustainability.
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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