The global food & beverage metal cans market is projected to reach USD 46.2 billion by 2028 from USD 33.0 billion by 2023, at a CAGR of 7.0% during the forecast period in terms of value. Metal cans are often used for the packaging of processed and ready-to-eat foods, and different types of beverages. These packaging materials are sustainable and prevent food from any sort of spoilage. There are different types of cans available based on their application and usage. For instance, 2-piece cans and 3-piece cans are used for packaging different food and beverages. Aerosols cans are used for whipping cream and oil sprays, etc. The trend of increased demand and consumption of processed foods fuels the demand for metal cans in food & beverage applications.
Food and Beverage Metal Cans Market Opportunities: Growing on-the-go snacking trends and the portable nature of metal cans
The new generations always opt for convenience food, due to its ease of consumption and less cooking time. Technology innovation in packaging has provided engaging experiences for consumers. The interactive packaging offers increased clarity to consumers. There has been a gradual shift in consumer choice for packaged food & beverage type. The shift from conventional bottles to advanced packaging types such as cans. Busy work lives and hectic lifestyles demand ‘on-the-go’ consumption and convenient packaging type. Convenient packaging also includes new products, which offer easy opening.
The steel material segment is projected to grow at the highest rate during the forecast period.
The steel segment is projected to dominate the market, on the basis of material, during the forecast period. Increasing the use of metal packaging for food & beverage packaging provides a sustainable and environment-friendly solution for packaging in multiple applications. Steel cans are convenient to store and don’t possess any adverse effects on the food product. Changes in consumer preferences are observed for food & beverage packaging.
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Based on Application, the Beverage segment is projected to occupy a significant market share rate during the forecast period.
Based on application, the food & beverage metal cans market is segmented into food and beverages. The beverage cans are estimated to account for the larger share, because of the high consumption of carbonated, non-carbonated, and sports & energy drinks. The rise in consumption of alcoholic beverages leads to the growth of the beverage cans market. Moreover, changes in consumer trends toward healthy drinks are driving the market for metal cans during the forecast period.
North America holds the highest market share during the forecast period.
North America accounted for the largest market share in the food & beverage metal cans market in 2022. The food & beverage metal cans market in the North American region is largely driven by growing consumer awareness toward environmental sustainability. The region offers an excellent growth opportunity for manufacturers of both metal cans and food & beverage products. Most of the players operating in the food & beverages metal can market are operating in the region and have a strong global presence. Moreover, North America is among the biggest consumer of aluminum cans and the region is mainly dominated by a large number of consumers for packaged food and beverages in the world. Strong investment in R&D and technological advancements are expected to have a positive impact on the domestic production of food & beverage metal cans market in North America. These factors drive the market for food & beverage metal cans in the North American region.
Top Companies in the Food & Beverage Metal Cans Market
Key players in this market include Crown Holdings, Inc. (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), CCL Container (US), Can Pick S.A (Poland), Kian Joo Group (Malaysia), CPMC Holding (China), Envases (Spain), Toyo Seikan Group Holdings, Ltd (Japan), Universal Can Corporation (Japan), Independent Can Company (US), VISY (Australia), Mauser Packaging Solutions (US), Lageen Food Packaging (Israel), Massilly Holdings S.A.S (France), P.Wilkinson Containers Ltd (UK), Kingcan Holdings Limited (China), Muller and Bauer GmbH (Germany), Jamestrong Packaging (Australia).
Food & Beverage Metal Cans Industry News:
- In May 2023, Ardagh Glass Packaging collaborated with Newell Brands to design and manufacture the Ball® Honeybee Keepsake Mason Jars. This collaboration enhances Ardagh’s reputation for innovation in glass design and strengthens its position as a leading supplier in the U.S. food market.
- In October 2022, Ball Corporation expands its infinitely recyclable Ball Aluminum Cup® portfolio with new 9-ounce and 12-ounce sizes, meeting the growing demand for sustainable beverage cup options and driving market growth as a leader in sustainable packaging solutions.
