Global Metal Cans for Food and Beverages Market Size Set to Touch USD 47 Billion by 2029

Published | 03 August 2023

Global metal cans for food and beverages market is flourishing due to the growing preference for convenience and ready-to-eat products, and metal cans’ favorable characteristics for packaging a wide range of perishable and non-perishable goods.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated that the global metal cans for food and beverages market size was worth USD 31.46 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global metal cans for food and beverages market size to grow at a CAGR of 6.86% reaching USD 46.85 billion by 2029. Major growth factors for the global metal cans for food and beverages market include increasing consumption of packaged and processed food & beverages, rapid adoption of innovative technologies in packaging, and developing infrastructure for the recycling of discarded metal packaging products

Opportunity: Growing focus on sustainable metal packaging

The increasing focus on the recycling of metal cans, owing to their sustainability and ability to be recycled infinitely without losing quality, is another major factor supporting the use of metal cans across the application industries. The United States is a highly developed market for both alcoholic and non-alcoholic beverages. According to the Brewers Association, the overall beer market in the United States was estimated at USD 115 billion in 2022 including USD 28.4 billion (24.6%) of craft beer. The association also reported that the craft beer market of 2022 exhibited a 5% increase in retail dollar sales over the previous year. The thriving United States beer market is a significant growth driver for the global metal cans for food and beverages market.

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Impact of COVID-19 on Global Metal Cans for Food and Beverages market

The COVID-19 pandemic affected the global market on a negative note leading to a downfall in various industries. The lockdowns caused shutdowns of many manufacturing industries, leading to a halt in various other secondary productions. But as the markets and lockdowns are lifting off, the industries are regaining growth. Therefore, the government’s laws and particular regulations have motivated the metal can industry. Recently, the United States Food and Drug Administration (US FDA) has moderated the labeling of nutritional contents of the products. This is expected to drive the prime supply chain in the market, giving it a considerable push over the forecast period.

Global Metal Cans for Food and Beverages Market - By Application

By application, the global metal cans for food and beverages market is split into Foods and Beverages segments. The beverages segment accounted for a higher market share in 2022. The metal can’s ability to hold beverages without leakage, spoilage, and contamination is the major factor supporting the market growth. The increasing demand for carbonated beverages across the globe, especially from the youth, is further supporting the market growth. The increasing focus of the young population on packaged beverages is also one of the major factors boosting the growth. Many regular consumers of canned foods choose the products due to the convenience offered and lower cost of the products.

 Competitive Landscape

The global metal cans for food and beverages market is highly fragmented with the presence of various small and medium-sized players. Metal Cans manufacturers are also making strategic efforts to expand their production capacities and geographical footprints along with the increase in the profit share in the global market. Major market participants for food and beverage metal cans market include Ardagh Group, Ball Corporation, CAN-PACK, CPMC Holdings, Crown Holdings, HUBER Packing Group, Kian Joo Group, King Can Holdings Ltd, and Tetra Laval International.

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The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Metal Cans for Food and Beverages Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Metal Cans for Food and Beverages Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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