Metal Cans Market to Value at USD 83.5 billion by 2031, with 3.1% CAGR: Analysis Report by Transparency Market Research Inc.

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Nov 20, 2023, 10:01 ET

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WILMINGTON, Del., Nov. 20, 2023 /PRNewswire/ -- The metal cans market size was US$ 65.4 billion in 2022. By the end of 2031, it is expected to reach US$ 83.5 billion at a CAGR of 3.1%. Eco-friendly packaging and sustainability are becoming increasingly important. Since metal cans can be recycled indefinitely and without losing quality, they are often preferred over plastic ones.

As a way to reduce consumption and transportation costs, many manufacturers have reduced the weight of metal cans. Companies are designing metal cans in creative ways to make them stand out. To capture the attention of consumers, a variety of designs, shapes, and printing techniques are employed to make sure they are entirely paid attention to.

Technology advancements have improved the efficiency and cost effectiveness of metal can production. In addition, new technologies have been developed for transforming cans, printing them, and sealing them. Metal cans are a major market driver in the food and beverage industry. As consumers' preferences change, the price of metal cans may also change.

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Global trends can significantly impact metal can sales, such as urbanization and changing lifestyles. The demand for packaged goods may increase in emerging markets with increasing disposable income.

Metal Cans Market Report Scope:

Report Coverage	Details
Forecast Period	2023-2031
Base Year	2022
Size in 2022	US$ 65.4 Bn
Forecast (Value) in 2031	US$ 83.5 Bn
Growth Rate (CAGR)	3.1 %
No. of Pages	230 Pages
Segments covered	By Product

Key Findings of Market Report

Food products like soups are becoming more popular due to their convenience and shelf life, driving demand for metal cans.
A growing beverage industry in Asia Pacific will drive demand for metal cans.
Advances in technology and innovation have contributed to the improvement of metal cans and their ease of use.
Environmental sustainability and recyclability concerns are expected to drive the market in the future.

Global Metal Cans Market: Growth Drivers

Recyclable packaging materials have become increasingly important as environmental sustainability has gained traction. Consumers and businesses that care about the environment focus on recycling metal cans, particularly aluminium cans.

Metal cans have become increasingly popular as consumers prefer convenient, lightweight packaging. Since cans are widely used for packaging various food and beverage products, the food and beverage industry significantly impacts the metal can market. These industries, as well as the development of innovative packaging designs and materials, are expected to drive demand for metal cans in the near future.

Metal cans can become better and more cost-effective as manufacturing technologies advance, like improved can-forming processes and coatings. Manufacturing companies looking for packaging solutions can find them more attractive this way.

The security and integrity of products can be maintained through metal cans, which offer tamper-evident packaging. The demand for reliable and protective packaging options such as metal cans can be driven by consumer awareness and regulatory requirements related to food safety.

Consumers and manufacturers will find metal cans more attractive as packaging innovations continue if they have resealable and easy-to-open features. Enhancing functionality and convenience is one of the goals of these innovations.

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Global Metal Cans Market: Regional Landscape

Metal cans are expected to be in high demand in Asia. Economic growth has been a major factor in the development of the Asia Pacific region, resulting in an increase in the level of urbanization and the evolution of lifestyles. The demand for metal cans may increase as the demand increases for packaged goods like drinks and foods.

Asia Pacific's booming beverage industry includes carbonated drinks, teas that are ready to consume, and energy drinks. Metal cans' convenience, portability, and recyclability make them a popular beverage packaging option.

Sustainability and environmental responsibility are gaining traction in this region, which may favor metal cans over other packaging materials. As consumers and businesses become more aware of environmental issues, metal packaging may become more attractive.

Single-use plastics have been reduced in many Asian countries. Alternative packaging materials, including metal cans, could be created due to this shift in regulatory and consumer attitudes.

Global Metal Cans Market: Key Players

International and domestic players actively participate in the metal cans market, making it a very large and highly competitive industry. Several leading companies are expanding their global presence by acquiring companies, entering into contracts, and collaborating with others.

Amcor Ltd.
Ardagh Packaging Group Plc
Bail Corporation
BWAY Corporation
CPMC Holdings Ltd.
Crown Holdings Inc.
Kian Joo Group
Rexam Plc
Siligan Containers Corporation
Sonoco Phoenix Inc.

Key Developments

In October 2023, The largest beer company in the Asia-Pacific based on sales revenue, Budweiser Brewing Co APAC Ltd, is eager to achieve its 35 percent carbon emission reduction goal by 2025. Budweiser Brewing Co APAC Ltd has launched a program called "Can-to-Can" recycling in China to raise the percentage of aluminum cans recycled.
In November 2023, food processor Tess Agro announced it had opened a tin can manufacturing plant in Kelaniya. At their factory premises in New Nuge Road, Kelaniya, Tess Agro Plc launched 'Agro Tin Tech' on November 13th, 2023. A daily capacity of 80,000 cans is available at the company.

Global Metal Cans Market: Segmentation

By Product
- Foods
  - Fruits
  - Vegetables
  - Soups
  - Others
- Beverages
  - CSD
  - Alcoholic Beverages
  - New Drinks
  - Fruit and Vegetable Juices
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa

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