Market Size of North America Metal Cans Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 12.94 Billion |
Market Size (2029) | USD 16.35 Billion |
CAGR (2024 - 2029) | 4.78 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America Metal Cans Market Analysis
The North America Metal Cans Market size is estimated at USD 12.94 billion in 2024, and is expected to reach USD 16.35 billion by 2029, growing at a CAGR of 4.78% during the forecast period (2024-2029).
With a significant share in the metal can packaging market, the food and beverage industry is witnessing massive demand amidst the COVID-19 pandemic, as the industry falls under the essential commodity. The lockdown enforced across the region due to the COVID-19 pandemic has bought a significant change in consumption habits. There has been an increasing demand for packaged food products, meat, vegetables, and fruits.
- Metal cans are one of the perfect packaging solutions for the on-the-go lifestyle of many consumers in the region, and their convenience is topping the benefits list. These can be easily transported or carried to festivals, beaches, and outdoor and sporting events, whereas glass is mainly restricted due to its breakability. In addition, the increasing popularity of energy drinks, the introduction of new products, and the price and recyclability of cans augment the studied market growth.
- Many brands are introducing new energy drinks. For instance, in 2020, Coca-Cola North America unveiled the first-ever energy drink under the Coke brand Coca-Cola Energy Cherry a flavor available exclusively in the United States. Their zero-calorie counterparts will be available nationwide in 12-oz. sleek cans.
- Furthermore, according to the Aluminum Association and Can Manufacturers Institute (CMI), 2020 report, the industry recycling rate of aluminum can account for 55.9% in the United States, and the Consumer recycling rate of aluminum can account for 46.1%. In addition, the value of material accounted for USD 1,210/tons.
- The cosmetic segment in the region is also driving the growth of the metal cans market in the area as many cosmetic and personal care manufacturers prefer metal cans packaging for their products. For instance, according to Happi Magazine, the unit sales of leading deodorant vendors such as Unilever, Procter, and Gamble, Colgate Palmolive in the United States in 2020 accounted for USD 327.04 million, USD 219.79 million, and USD 38.49 million, respectively.
- The food and beverage industry, with a major share in the metal, can packaging market, has witnessed huge demand amidst the COVID-19 pandemic, as the industry falls under the essential commodity. According to a 2020 survey published by Store Brands, the consumption of canned food due to the Covid-19 pandemic increased by 96% in the United States. Also, frozen dinners consumption also increased by 71%.
North America Metal Cans Industry Segmentation
The metal can is a container for the distribution or storage of goods. It is composed of thin metal, prominently propelled by its growing use in food and beverage packaging. The studied market is segmented by the material used, such as aluminum and steel, among different end-user verticals across the studied region. The study also includes the impact of the COVID-19 on the market.
By Material Type | |
Aluminum | |
Steel |
By End-user Vertical | |
Food | |
Beverage | |
Pharmaceuticals | |
Cosmetic and Personal Care | |
Other End-user Verticals |
By Country | |
United States | |
Canada |
North America Metal Cans Market Size Summary
The North America Metal Cans market is poised for significant growth, driven by the robust demand from the food and beverage industry, which has been further amplified by changing consumer habits during the COVID-19 pandemic. Metal cans offer a convenient packaging solution, particularly for on-the-go consumers, and their portability makes them a preferred choice over glass. The increasing popularity of energy drinks and the introduction of new products have also contributed to the market's expansion. The beverage industry, in particular, is witnessing a trend towards metal cans for both alcoholic and non-alcoholic drinks, with manufacturers reducing can weight and enhancing durability to support carbonation. This shift is supported by investments in new production facilities and increased production capacity to meet the rising demand.
The market is characterized by moderate competition, with major players like Ball Corporation, Crown Holdings, and Ardagh Group actively expanding their operations and forming strategic partnerships to enhance their market presence. The focus on sustainability is evident, with initiatives aimed at improving recycling rates and circularity of aluminum cans. The cosmetic segment also contributes to market growth, as metal cans are favored for packaging personal care products. Recent developments include mergers, acquisitions, and investments in new production lines and facilities, underscoring the industry's commitment to meeting the growing demand for metal cans across various sectors.
North America Metal 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 Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of COVID -19 Impact 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 End-user Vertical
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2.2.1 Food
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2.2.2 Beverage
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2.2.3 Pharmaceuticals
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2.2.4 Cosmetic and Personal Care
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2.2.5 Other End-user Verticals
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2.3 By Country
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2.3.1 United States
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2.3.2 Canada
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North America Metal Cans Market Size FAQs
How big is the North America Metal Cans Market?
The North America Metal Cans Market size is expected to reach USD 12.94 billion in 2024 and grow at a CAGR of 4.78% to reach USD 16.35 billion by 2029.
What is the current North America Metal Cans Market size?
In 2024, the North America Metal Cans Market size is expected to reach USD 12.94 billion.