Market Size of Metal Cans Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 82.49 Billion |
Market Size (2029) | USD 98.35 Billion |
CAGR (2024 - 2029) | 3.58 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia-Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Metal Cans Market Analysis
The Metal Cans Market size is estimated at USD 82.49 billion in 2024, and is expected to reach USD 98.35 billion by 2029, growing at a CAGR of 3.58% during the forecast period (2024-2029).
The product is gaining prominence because of its distinct features, like transportation resistance, hermetically sealed cover, rough handling, and easy recyclability.
- The high recyclability of metal cans is one of the significant drivers of the market. Aluminum cans deliver nearly protection against moisture. The cans do not rust and are resistant to corrosion, as well as provide one of the most extended shelf lives considering any packaging. It also offers many benefits, such as rigidity, stability, and high barrier properties.
- Due to the increasing consumption of alcoholic and non-alcoholic beverages, such as beer and carbonated drinks, in the European region, there is significant demand for metal cans. According to Barth-Haas Group, Germany was Europe's top beer producer in 2021. The beer products in Germany were over 85 million hl which was more than twice as much as produced in the UK. With 82 million hl, Russian output was the second-largest in Europe.
- The aluminum can shortage continues to affect the food and beverage industry, as the beverage demand for home consumption and grocery increased compared to restaurants. Many prominent market players have announced investments to set up new manufacturing infrastructures to fulfill the increased order and tackle the shortage of aluminum cans. For instance, in September 2021, Ball Corporation announced plans to build a new US aluminum beverage packaging plant in Nevada, US. This multi-line plant has been scheduled to begin production in late 2022. The company plans to invest around USD 290 million in this facility over the next few years. Even with the adjustments and increased manufacturing capacity, Ball Corporation anticipated that the demand would continue to outstrip supply well into 2023.
- The rise in consumer awareness concerning the application of non-carcinogenic materials in packaging and increased demand for lightweight packing is generating high growth prospects for the metal cans market. However, metal cans are challenging to use due to the replacement possibility of polymer-based packaging materials, including polyethylene and polyethylene terephthalate (PET).
- In response to the COVID-19 pandemic's impact on demand, European steelmakers have swiftly reduced supply, with first-quarter production falling 10% yearly. Also, the non-ferrous metals industry is a crucial supplier of essential value chains, including food packaging. COVID-19 is causing significant and growing economic impacts on the European non-ferrous metals sector, driven by substantial demand reduction in key-value chains, supply disruptions, and transport difficulties.
Metal Cans Industry Segmentation
The metal can market is tracked by the revenue accrued from the metal can sales offered by various vendors in the Market. The Market is segmented by Material Type (Aluminium and Steel), End-user Vertical (Food, Beverage, Cosmetics and Personal Care, Pharmaceuticals and Paint), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are in terms of value (USD million) for all the above segments.
By Material Type | |
Aluminum | |
Steel |
By Can Type | |
Food | |
Beverage | |
Cosmetics and Personal Care | |
Pharmaceuticals | |
Paint | |
Other End user Industry |
Geography | ||||||||
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Latin America | ||||||||
Middle East and Africa |
Metal Cans Market Size Summary
The metal cans market is poised for steady growth over the forecast period, driven by their unique attributes such as resistance to transportation damage, hermetic sealing, and ease of recyclability. These features make metal cans particularly appealing for packaging, especially in the beverage industry, where they offer superior protection against moisture and corrosion, ensuring extended shelf life. The increasing consumption of both alcoholic and non-alcoholic beverages, particularly in Europe, is fueling demand for metal cans. The market is also experiencing a surge in demand due to the rise in consumer preference for non-carcinogenic and lightweight packaging materials. However, the market faces challenges from the potential replacement by polymer-based packaging materials, which could impact growth prospects.
The North American region is expected to significantly contribute to the market's expansion, driven by the growing demand for healthy and convenient food and beverage options. The proliferation of grocery stores and superstores, coupled with the trend towards smaller household sizes, is boosting the demand for smaller packaging units like metal cans. The market is moderately fragmented, with key players focusing on product differentiation, pricing strategies, and technological advancements to maintain competitive advantage. Innovations such as digitally printed cans and CO2-reduced steel cans are examples of how companies are enhancing their product offerings. The ongoing investments in manufacturing infrastructure and the expansion of convenience stores are further expected to support the market's growth trajectory.
Metal Cans Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 High Recyclability of the Packaging Due to Less Usage of Energy
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1.2.2 Increasing Consumption of both Alcoholic and Non-Alcoholic Beverages
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1.3 Market Restraints
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1.3.1 Presence of Alternate Packaging Solutions as Polyethylene Terephthalate
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1.4 Industry Value Chain Analysis
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1.5 Industry Attractiveness - Porter's Five Forces Analysis
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1.5.1 Bargaining Power of Suppliers
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Threat of New Entrants
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Material Type
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2.1.1 Aluminum
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2.1.2 Steel
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2.2 By Can Type
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2.2.1 Food
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2.2.2 Beverage
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2.2.3 Cosmetics and Personal Care
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2.2.4 Pharmaceuticals
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2.2.5 Paint
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2.2.6 Other End user Industry
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2.3 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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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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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
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Latin America
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2.3.5 Middle East and Africa
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Metal Cans Market Size FAQs
How big is the Metal Cans Market?
The Metal Cans Market size is expected to reach USD 82.49 billion in 2024 and grow at a CAGR of 3.58% to reach USD 98.35 billion by 2029.
What is the current Metal Cans Market size?
In 2024, the Metal Cans Market size is expected to reach USD 82.49 billion.