Metal cans market is projected to be worth USD 54,372.90 million by 2030, registering a CAGR of 2.30% during the forecast period (2021 - 2030)
Metal cans market is projected to be worth USD 54,372.90 million by 2030, registering a CAGR of 2.30% during the forecast period (2021 - 2030), The market was valued at USD 55.24 billion in 2021.
This market has been an extremely dynamic market where competition prices are increasing among the key players. The demand for use of metal cans rose in the nineteenth century due to the high growth of packaging systems for alcoholic and nonalcoholic drinks. Differentiation of the product and the use of environment-friendly products rises the opportunities of the metal cans market.
COVID 19 pandemic reduced the supply of European steel to other countries. Trade and e-commerce were hugely hampered during the COVID period. It led to the reduction in production in the first quarter of the year up to 10%. Disruption in the nonferrous supply unit of food packaging was marked. The outbreak of COVID had a significant economic impact on the key chain units. Difficulties associated with transportation facilities were marked. Reduction in labor was marked and where most of them were affected by corona.
Some of the market players playing in the metal cans market who carryout different strategies for increasing the metal cand market value are
Growth in the use of cans in the food and beverage packaging industry completely drives up the metal cans market growth. The metal cans market is in widespread growth due to its high demand for the sale of aerated and non-aerated beverages. Using personal care products brings a phenomenal growth of the metal cans market.
The high demand among the consumers concerning the use of more carcinogenic packaging materials increases the health and medical awareness brings opportunities for the metal cans market size. Use of lightweight packaging material to augments up the packaging business. The rise in the growing possibilities of demand for polymer-based packaging material like polyethylene and Polyethylene terephthalate packaging acts as an incident force promoting up the stake of the market in the global world during the market forecast period. Differentiation of the product and the use of environment-friendly products and its expansion rise up the metal cans market.
High rise in suppliers’ bargaining power where the buyers try to relish the bargaining power control over the market becomes the challenging factor for the market. Another most important challenging factor is the use of the indistinguishable character for the packaging of beverage products which brings low risks to the alternatives so used here. The rise in impulsive growth of the raw materials along with the environmental regulations so imposed accompanied with the regulation of production of metals is another most challenging factor for the entry f new key players who bring flourish to the market. The rise in lifestyles and the growth in awareness and concerns about the consumption of non-carcinogenic products have driven up the metal cans market.
Here cumulative growth was marked during the market forecast period.
The metal cans industry faces some of the encounters due to the unavailability and instability of raw materials. The high growth in material costs acts as a major restraining factor for the expansion of the market cans business. Here, it has been marked that there are certain notable substitutes like paper and plastic packaging which becomes a restraining factor for the metal cans market. The lack of microwaveable capability for using these cans act as a restraining factor. Shortage in the availability of raw materials like the packaging done with the help of polymer, less capability of its microwaveable nature is another sustainable restraining factor of the growth.
Globally and regionally, the metal cans industry has been classified based on material, type, application, and region. As per the material, the market is divided into aluminum, steel, and tin. Among all these material types, the aluminum segment projects at a high metal cans market value and dominates the whole of the market share during 2023. Aluminum being the dominant material rise its demand among the key players operating in the market. This is so because aluminum is said to be a lightweight material and is extremely non-reactive. According to the type of metal cans, the metal can industry is divided into two-piece metal and three-piece metal can. A two-piece metal can is expected to dominate the metal cans market during 2016 and is expected to be the fastest-growing material type. The two-piece can is easy to be manufactured moreover it is highly durable and is very much convenient for transportation and stack. As per the application, the metal can industry is classified into food, beverage, and many more. The beverage segment carries a huge dominating position in 2016 where it projects as the fastest-growing application in the next upcoming years. For meeting the demand of the high-end application for packing up of alcohol and non-alcohol drinks along with aerated and non-aerated drinks this sector brings huge demand in the metal cans market.
By technologyDue to the advancement of technology, the opportunity of the application has expanded to the various end-user industries where it has been used for commodity purposes like in chemicals, edible, food, and in some of the beverage items. The packaging metals were made up of lightweight and easy-to-stack materials like aluminum, steel, tin where it holds 1/3rd of the major market growth. Due to technology, the materials so manufactured were 100% recyclable where their quality and sturdiness were retained. The recycling rate of the materials is two and a half times larger than the subordinate packaging solutions. Due to technology, the recycling rate reduced carbon dioxide emission and thus reduced the use of parent material.
Globally, the packaging market extends to the regions of North America, Europe, Asia Pacific, and some other regions present in the world. It has been marked that the European and North American region dominates the whole of the market thus owing to the rise in consumption of metal cans containing either food or beverage. Moreover, this region shows a lethargic growth due to the less availability of the substituted metal can packaging products so available. The Asia Pacific market shows a high growth rate during the market forecast period. The expansion of the metal cans market is steered up due to the rise in consumption by the end-users industries so present there. Presently, it has been found that this region of Asia is undergoing phenomenal growth due to the presence of a high number of industries along with the setting up of new and advanced manufacturing facilities which was set up by OMEs which owes to the rise in accessibility of raw products so available at a cheap rate. Here due to the developing economic conditions and the rise in investment through the number of government initiatives that establish the setting up of customer-oriented industries. The regions so present in the rest of the world gains exponential growth and achieve success at a high momentum during the market forecast period.
Over the predicted hears it has been marked that the report gives holistic and detailed information about the market. The report makes a good evaluation and makes a comprehensive analysis about the market segments, the market trends, and the growth factors operating in the market.
|Market Size||USD 54,372.90 million|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material , Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Rexam plc (U.K.), Silgan Containers LLC (U.S.), Kian Joo Can Factory Berhad (Malaysia), Independent Can Company (U.S.), Ball Corporation (U.S.), Crown Holdings, Inc. (U.S.), HUBER Packaging Group GmbH (Germany), SKS Bottle & Packaging, Inc. (U.S.), Ardagh Group S.A. (Luxembourg), Berlin Packaging (U.S.), Kaira Can Company Limited (India), The Cary Company (U.S.), Allstate Can Corporation (U.S.), Allied Cans Limited (Canada), and CPMC Holdings Limited (China)|
|Key Market Opportunities||Growing demand of consumers regarding non-carcinogenic packaging materials due to growing health awareness and lightweight packaging|
|Key Market Drivers||Growing use of cans in food and beverage packaging|
The metal cans market is expected to reach USD 54,372.90 million by 2030
Silgan Containers LLC (U.S.), Rexam plc (U.K.), Independent Can Company (U.S.), Ball Corporation (U.S.), Kian Joo Can Factory Berhad (Malaysia) are the top key players investing in the metal can market.
The metal can market will be rising at 2.30% CAGR in the forecast period.
North America, Europe, Asia Pacific, and Rest of the World are the key regions included in the metal can market study.
Innovation in canned food packaging has been marked. The rise in the growth of chemical-free canned foods rises and increases the focus on packaging up the products. Due to technology, and the new market trends, various key players have started offering BPA-free containers. marketing trends have risen the growth of Steelband tampered roof steel containers which rose the metal can market growth and metal can market value. Due to the adoption of new technology, the products inside are free from bacteria and require less preparation time.
The phenomenal growth of metal can market is attributed to personal care products and their extensive usage.