Market Size of Food Cans Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 26.65 Billion |
Market Size (2029) | USD 31.52 Billion |
CAGR (2024 - 2029) | 3.20 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Food Cans Market Analysis
The Food Cans Market size is estimated at USD 26.65 billion in 2024, and is expected to reach USD 31.52 billion by 2029, growing at a CAGR of 3.20% during the forecast period (2024-2029).
The increase in the popularity of canned food to preserve a wide variety of food, such as fruits, vegetables, beans, soups, meats, and seafood, offers significant market opportunities for packaging companies. The surge in demand for ready-to-eat canned food products in developing countries is expected to boost the market value.
- Food cans are a widespread option for maintaining the freshness and nutritional content of food products. An increase in the canning process to enhance the shelf life of packaged food is expected to strengthen the food cans market. The rise in the utilization of steel as the material for cans for packaging beverages and frozen dairy products presents significant opportunities for companies operating in the market.
- On the other hand, metal cans are infinitely recyclable, which is anticipated to fuel the growth of these cans among food packaging companies. According to the American and Iron Steel Institute, over 90% of the co-products from the steel-making process are reused or recycled.
- Rapid urbanization, changing food habits, increased income levels, and increased consumption of ready-to-eat food are fueling the demand for canned food cans across the world. Moreover, the rise in concern over food quality and increased demand for hygienic food are expected to contribute to the market growth. Significant demand for food packaging solutions in developing countries offers lucrative opportunities for market players.
- The industry also needs help with alternative packaging options, such as plastic packaging. Plastic is a widely used packaging material in the food industry. It is known for its flexibility, durability, and lightweight. The usage of recyclable plastic materials is gaining traction due to the growing concerns about environmental pollution caused by plastic. Such growth of alternative materials can affect the market growth of food cans.
- Metal can packaging faces much competition from other packaging solutions such as plastic, paper, or glass. Plastic packaging continues to be the main competitor of metal packaging. The food industry, the primary user of metal cans, has started adopting recyclable plastic packaging solutions. Plastic cans are transparent, which helps brands to show their food's quality. Plastic's transparent and cost-effective properties might limit the metal food cans market.
Food Cans Industry Segmentation
Food cans are among one of the packaging options for the mobile lifestyle. These can be carried easily to outdoor sporting events, festivals, and more, whereas glass is typically forbidden because of its breakability. The affordability and recyclability of cans, the rising popularity of canned food, and the launch of new food products are expected to contribute to the market growth in the future.
The food cans market is segmented by material (aluminum cans and steel/tin cans), application (ready meals, powder products, fish and seafood, fruits and vegetables, processed food, pet food, and other applications), and geography (North America (United States and Canada), Europe (United Kingdom, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and New Zealand, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East and Africa (United Arab Emirates, South Africa, Saudi Arabia, and Rest of Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Material Type | |
Aluminium Cans | |
Steel Cans |
By Application | |
Ready Meals | |
Powder Products | |
Fish and Seafood | |
Fruits and Vegetables | |
Processed Food | |
Pet Food | |
Other Applications |
By Geography*** | |||||||
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Food Cans Market Size Summary
The food cans market is poised for growth, driven by the increasing popularity of canned foods for preserving a diverse range of products, including fruits, vegetables, and meats. This trend is particularly pronounced in developing countries, where the demand for ready-to-eat canned foods is on the rise. The market benefits from the use of steel and aluminum in can production, with aluminum cans gaining traction due to their recyclability and ability to preserve food quality by protecting against light, oxygen, and moisture. The environmental advantages of metal cans, coupled with the growing demand for sustainable packaging solutions, are expected to bolster market expansion. However, the market faces competition from alternative packaging materials like plastic, which offers flexibility and transparency, potentially impacting the growth of metal cans.
The food cans market is characterized by its fragmented nature, with numerous key players striving to capture market share. Companies such as Crown Holdings Inc., Silgan Holdings Inc., and Sonoco Products Company are prominent in the industry. Recent strategic moves, such as Visy Industries' acquisition of Advanced Circular Polymers and Sonoco's purchase of Amcor's composite can operations, highlight the industry's focus on enhancing recycling capabilities and expanding market presence. The market's growth is further supported by increasing urbanization, higher disposable incomes, and a shift towards processed foods, particularly in regions like Asia-Pacific. These factors, along with government restrictions on plastic packaging, are creating lucrative opportunities for market players in the food cans sector.
Food Cans Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Material Type
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2.1.1 Aluminium Cans
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2.1.2 Steel Cans
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2.2 By Application
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2.2.1 Ready Meals
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2.2.2 Powder Products
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2.2.3 Fish and Seafood
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2.2.4 Fruits and Vegetables
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2.2.5 Processed Food
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2.2.6 Pet Food
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2.2.7 Other Applications
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2.3 By Geography***
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Spain
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2.3.2.5 Italy
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2.3.3 Asia
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 Australia and New Zealand
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2.3.4 Latin America
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2.3.4.1 Brazil
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2.3.4.2 Mexico
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2.3.4.3 Argentina
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2.3.5 Middle East and Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 Saudi Arabia
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2.3.5.3 South Africa
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Food Cans Market Size FAQs
How big is the Food Cans Market?
The Food Cans Market size is expected to reach USD 26.65 billion in 2024 and grow at a CAGR of 3.20% to reach USD 31.52 billion by 2029.
What is the current Food Cans Market size?
In 2024, the Food Cans Market size is expected to reach USD 26.65 billion.