PUBLISHER: The Business Research Company | PRODUCT CODE: 1415727
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415727
“Food And Beverage Metal Cans Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on food and beverage metal cans market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for food and beverage metal cans? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The food and beverage metal cans market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Food and beverage metal cans are containers primarily crafted from thin metal, typically steel or aluminum, employed for the storage and packaging of various food and beverage products. Their utilization serves to extend the shelf life and maintain the quality of the contents.
These cans come in two principal configurations such as 2-piece cans and 3-piece cans. The former comprise a can body and a lid, forming a two-part structure. Fabricated from materials like aluminum and steel, they are produced as either pressurized or vacuum-sealed cans, each designed to withstand specific internal pressures. Additionally, they undergo various manufacturing processes including plain, embossed, printed, among others, and find extensive application in the packaging of both food and beverages.
The food and beverage metal cans market research report is one of a series of new reports from The Business Research Company that provides food and beverage metal cans market statistics, including food and beverage metal cans industry global market size, regional shares, competitors with a food and beverage metal cans market share, detailed food and beverage metal cans market segments, market trends and opportunities and any further data you may need to thrive in the food and beverage metal cans industry. This food and beverage metal can market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The food and beverage metal cans market size has grown strongly in recent years. It will grow from $33.02 billion in 2023 to $35.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to development of non-bpa linings, preservation and shelf life, demand for convenience food, product protection.
The food and beverage metal cans market size is expected to see strong growth in the next few years. It will grow to $46.77 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to transportation efficiency, demand for attractive canvas, safety and food security, government initiatives. Major trends in the forecast period include ready-to-drink (rtd) beverages innovations, labeling and design innovations, convenience and easy opening, aluminum beverage bottles.
The escalating consumption of alcoholic beverages is poised to drive the expansion of the food and beverage metal cans market in the foreseeable future. Alcoholic drinks, defined by a volume alcohol content of 1% or higher, are finding increased packaging in metal cans due to their ease of filling, convenience, and recyclability. In 2021, the National Institute on Alcohol Abuse and Alcoholism, a US-based alcohol-related researcher, reported a per capita ethanol consumption of 2.51 gallons from all alcoholic beverages in the US, marking a 2.9% rise from the 2.44 gallons recorded in 2020. Additionally, data from the U.S. Census Area indicates a surge in per capita alcohol consumption across various regions, including the Northeast, Midwest, South, and West. This trend signifies a substantial driver for the food and beverage metal cans market.
The escalating demand for convenience food items is poised to fuel the expansion of the food and beverage metal cans market. Convenience foods, characterized by their pre-prepared or ready-to-eat nature, offer quick and easy consumption. Metal cans provide a convenient packaging solution for preserving and delivering a wide range of convenience foods, extending their shelf life and enhancing portability. For instance, in 2022, the United States Department of Agriculture reported a notable increase in the total value of processed food products exported from the US, reaching $38 billion, up by 10.96% from $34.24 billion in 2021. Moreover, Canada and Mexico also recorded significant exports of processed food products, contributing to the thriving convenience food market. This trend is set to be a significant driver for the food and beverage metal cans market.
The shortage of essential raw materials stands as a significant challenge impeding the growth of the food and beverage cans market. This scarcity pertains to the limited availability of crucial materials necessary for the manufacturing and production processes. Steel, aluminum, and various other materials are fundamental in the production of cans for food and beverages. The deficiency in the supply of steel has far-reaching impacts across diverse industries, notably affecting the production of food cans. For instance, in June 2023, according to The American Iron and Steel Institute (AISI), a US-based steel organization, the U.S. raw steel production in 2022 was 94.7 million net tons, marking a 6.2% decrease from the previous year. This shortage in raw materials presents a notable challenge for the food and beverage cans market.
Leading companies in the food and beverage metal cans market are dedicated to pioneering eco-friendly solutions to solidify their position in the industry. In June 2023, Eviosys Packaging Switzerland GmbH, a Switzerland-based provider of intelligent and sustainable packaging, unveiled Ecopeel, an innovative metal food can packaging solution. This product features a peelable foil seal directly applied to the can's body, replacing the standard ring-pull opening mechanism. Ecopeel reduces the carbon footprint per can by 20% and offers easy accessibility with a 45-degree sealing surface.
In January 2022, Sonoco Metal Packaging LLC, a US-based provider of consumer, industrial, healthcare, and protective packaging, acquired Ball Metalpack LLC for an undisclosed amount. This acquisition is set to broaden and fortify Sonoco's sustainable and innovative packaging portfolio, which includes metal packaging. Ball Metalpack LLC is a US-based packaging company specializing in food and beverage packaging and metal cans.
Major players in the food and beverage metal cans market are Ball Corporation, Crown Holding Inc., Sonoco Products Company, Silgan Holding Inc., Greif Inc., Ardagh Metal Packaging S.A, Mauser Packaging Solutions Holding Company, Crown Cork & Seal Co. Inc., Berlin Packaging LLC, CPMC Holdings Ltd., Can-Pack S.A, Huber Packaging Group GmbH, Nampak Ltd., Massily Holdings S.A.S, BWAY Corporation, Great China Metal Industries Co. Ltd., NCI Packaging Ltd., CCL Container SA de CV, Independent Can Co, Jamestrong Packaging Pty Ltd., DS Containers Inc., Muller and Bauer Gmbh, Allstate Can Corporation, P. Wilkinson Containers Ltd., Allied Cans Ltd.
North America was the largest region in the food and beverage metal cans market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in food and beverage metal cans report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the food and beverage metal cans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The food and beverage metal cans market consists of sales of aluminum, tinplate, tin-free steel (TFS) and stainless steel (SS) cans. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.