United States, Chicago, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Metal cans represent the most commonly used packaging in the food and beverage sector, as they extend shelf life, offer excellent protection against external contaminants, and are highly recyclable. These cans are recyclable and can be reused endlessly, and they can also be shaped into any desired form. Among the most frequently occurring contaminants are moisture, oxygen, bacteria, and others that can damage food, beverages, and other important products. This is why metal cans serve as a highly effective barrier against these contaminants, leading to their widespread use for storing perishable items over extended periods.
Introspective Market Research has unveiled its latest market study, titled "Metal Cans Market," providing a comprehensive outlook on the future of this premium delicacy. According to the report, the global Metal Cans Market was valued at USD 66.4 billion in 2023 and is poised for significant expansion, with projections indicating a climb to USD 81.5 billion by 2032. This anticipated growth represents an impressive CAGR of 2.3% from 2024 to 2032.
Metal cans, initially created in 1813 in England, have historically been crucial for packaging, originally designed to hold food such as meat and oysters, and are now utilized for a variety of products, including drinks, healthcare goods, and industrial solvents. The increasing appetite for packaged food and drinks is a major factor fueling market expansion, bolstered by innovations in packaging technology and a worldwide movement towards sustainability. Metal cans can be recycled efficiently without a loss in quality, which aligns with environmental trends and increases demand in various sectors. Increasing awareness of the environmental effects of packaging waste boosts metal can recycling. The demand for convenience among consumers, particularly in ready-to-drink beverages, combined with the rising popularity of craft beers and canned wines, is expected to support the continued growth of metal can consumption. As a result, the global market for metal cans has experienced a rising CAGR in recent years.
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Notable Drivers of the Metal Cans Market
High Recyclability of Metal Cans:
The excellent recyclability of metal cans is a crucial factor in the metal can market, attracting consumers and businesses that prioritize sustainability. Metal cans, primarily crafted from aluminum and steel, provide distinct benefits as they can be recycled endlessly without any degradation in quality, in line with circular economy objectives. In the EU, approximately 94 million tonnes of scrap metal are recycled annually, which equates to an impressive 200 million tonnes of CO2 emissions avoided. Metal cans play a major role in this recycling total; UK households utilize 9 billion drink cans and 600 million aerosol cans each year, highlighting the substantial potential for recycling metal cans.
Aluminum cans are extremely efficient in terms of energy when recycled. Creating new aluminium from recycled resources conserves as much as 95% of the energy needed for primary manufacturing. Recycling a single aluminium can power a computer for three hours, while seven cans can generate enough energy to keep a 60-watt bulb illuminated for 26 hours. Thus, recycling helps lower production costs and minimizes environmental effects. Typically, a single aluminium can be recycled and returned to store shelves in less than two months, ranking it among the most effectively recycled consumer items. Moreover, the automotive and construction industries recycle more than 90% of aluminium, demonstrating the worth of metal cans in various markets. Since 75% of all aluminium ever made is still in use, the ability to recycle metal cans keeps boosting demand, guaranteeing market expansion as consumers and industries place higher importance on eco-friendly packaging options.
Rising Demand for Metal Cans Driven by Growth in the Global Beverage Industry
The swift growth of the worldwide beverage industry is a major factor contributing to the increasing demand for metal cans, especially aluminum. With the increasing consumer inclination towards sustainability, the demand for metal cans has risen significantly because of their environmentally-friendly advantages and capacity to maintain product quality. In North America, more than 75% of new beverage launches are now contained in cans, a significant rise from only 30% five years earlier. This change is driven by the increasing consumer demand for recyclable and eco-friendly packaging. Aluminum cans are regarded as an ideal option for beverage packaging due to their light weight, robustness, and ease of recycling.
In areas such as Mexico and Brazil, metal cans are prevalent in beer packaging, with Mexico's can market share increasing from 48% to 80% in recent years. The expansion of industries like energy drinks, craft beers, and ready-to-drink (RTD) beverages enhances this demand. Metal cans are preferred due to their convenient transport, extended shelf life, and capacity to preserve the freshness and quality of beverages. With the beverage sector's ongoing emphasis on sustainability, businesses are progressively utilizing metal cans to meet consumer demands for environmentally friendly packaging. Moreover, progress in packaging technologies, like the energy-saving canning lines from Coca-Cola Euro pacific Partners’ £31 million investment in Wakefield, bolsters this expansion. The synergy of consumer interest in eco-friendly packaging and persistent advancements in canning technology positions the metal can industry for further growth in the years ahead.
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How Can Manufacturers Address the Competition from Alternative Packaging Materials?
The market for metal cans experiences considerable rivalry from other packaging materials like plastic, glass, and paper-based choices. These options provide benefits in terms of cost, weight, and convenience, undermining the market share of metal cans. The worldwide packaging sector is anticipated to expand by 21% in the upcoming three years, achieving a worth of $1.2 trillion, with the rigid paper category likely to surpass plastics by 2026. This expansion highlights the rising need for sustainable packaging options, with 71% of European consumers indicating a preference for more sustainable and circular goods.
In spite of this demand, recognizing genuinely sustainable packaging continues to be difficult for consumers. The move towards sustainability is clear as decarbonisation initiatives increase in the packaging industry, with 164 paper and packaging firms pledging to cut emissions by 2022. However, over 30% of these firms have not achieved their objectives, emphasizing the persistent difficulty in aligning sustainability with manufacturing methods. Packaging made from paper has particularly gained momentum, exhibiting favorable growth trends, especially in Italy, where the industry experienced a 3% rise in sales in 2022. Conversely, plastic packaging is valued for its reduced carbon emissions during production and transport, yet it faces criticism due to its restricted circularity and biodegradability. The transition to paper and glass, motivated by environmental issues and regulatory demands, presents an increasing challenge to the metal can industry, which needs to adjust to these evolving circumstances. Producing more than 141 million tonnes of plastic packaging each year, the industry is under increased examination regarding its environmental effects, which amplifies the competition with metal cans.
What Opportunities Arise from The Rising Demand for Convenient and On-The-Go Packaging?
The metal cans industry is undergoing a notable increase fueled by the growing need for convenient and portable packaging, particularly in the beverage and ready-to-eat food markets. With the acceleration of consumer lifestyles, an increasing favor for portable, single-serve packaging choices is emerging. Metal cans, especially for beverages such as soft drinks, beer, and non-carbonated options (like liquid coffee, tea, and sports drinks), are perfectly aligned with this trend because of their convenience and portability. It is worth noting that beverage cans represent roughly 78% of the worldwide metal can market, with cans for processed foods accounting for about 18%, and aerosol and general line cans making up the rest.
The tinplate packaging market, a key component for metal cans, is experiencing significant growth, particularly in nations such as India. Tinplate packaging has gained popularity because of its affordability, practicality, and eco-friendliness. It is commonly utilized for packaging edible oils (50% of global tinplate packaging) as well as fruits and vegetables (15-25%). Moreover, advancements in tinplate, including lighter and sturdier materials, are increasing its attractiveness to food producers. The practicality of metal cans is enhanced by their capacity to maintain the safety, freshness, and fragrance of food items, rendering them a desirable packaging option for ready-to-eat meals, snacks, and drinks. Thanks to government efforts to boost the food processing sector, such as lower taxes and incentives, the metal cans market is set to keep growing as consumers place greater emphasis on convenience in their food and drink choices.
Key Manufacturers
Market key players and organizations within a specific industry or market that significantly influence its dynamics. Identifying these key players is essential for understanding competitive positioning, market trends, and strategic opportunities.
- Amcor plc
- Ardagh Group S.A.
- Ball Corporation
- CPMC Holdings Limited
- Crown Holdings Inc.
- Hindustan Tin Works Ltd.
- Independent Can Company
- Kian Joo Can Factory Berhad (Can-One Berhad)
- Mauser Packaging Solutions
- Silgan Containers LLC (Silgan Holdings Inc.)
- Sonoco Products Company
- Toyo Seikan Group Holdings Ltd and, Other Active Players
In July 2024, Cajuína São Geraldo, a popular beverage from Ceará, Brazil, has partnered with CANPACK to launch its flagship cashew soda in 350ml infinitely recyclable aluminum cans. Previously available only in glass or PET bottles, this limited edition celebrates the June Festivals and São João. Made with 5% juice from native cashew fruits, São Geraldo aims to introduce its unique regional flavor to broader Brazilian audiences.
In June 2024, Sonoco Products Company acquired Eviosys, a European leader in metal packaging, from KPS Capital Partners for $3.9 billion. The acquisition strengthens Sonoco's position as the global leader in metal food can and aerosol packaging. Eviosys, with 44 facilities across 17 countries, is expected to generate $2.5 billion in revenue in 2024. Sonoco anticipates $100 million in synergies and is committed to advancing sustainable metal packaging through its new Technical & Engineering Center in Ohio.
In June 2024, Ball Corporation partnered with CavinKare to revolutionize dairy packaging by introducing retort aluminum cans for CavinKare’s milkshakes. This collaboration aims to enhance sustainability and product preservation while catering to the growing demand for ready-to-drink dairy products in India. The cans are designed to maintain flavor and freshness, aligning with consumer preferences for on-the-go convenience. The move reflects both companies' commitment to innovation and eco-conscious packaging solutions.
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Key Segments of Market Report
By Material Type:
The aluminum sector is anticipated to lead the metal cans market throughout the forecast period, fueled by heightened investments in new production facilities and growing demand for aluminum cans. For instance, Ball Corporation opened a new aluminum beverage packaging facility in Nevada, USA, in September 2021, with manufacturing starting in late 2022. This action tackles the rising demand and shortage of aluminum cans. Furthermore, consumer understanding of the environmental advantages, recyclability, and energy efficiency of aluminum packaging fosters market expansion. Orora Beverage, an Australian producer of eco-friendly packaging solutions, allocated $80 million for a new production line that creates multi-sized cans to satisfy the growing demand for smaller 200ml cans for soft drinks, kombucha, and alcoholic beverages. Orora boasts a robust clientele, featuring VB, Mount Franklin, and Coke, manufacturing almost 1 billion beverage cans each year, with an emphasis on sustainable packaging options in aluminum and glass. This market chance demonstrates a movement towards sustainable, premium packaging alternatives.
By Can Type:
The beverages sector is projected to lead the market throughout the forecast period, supported by the improved capacity of metal cans to maintain beverages without leakage, spoilage, or contamination. The increasing intake of carbonated beverages, especially among younger individuals, has further increased market demand. The beverage industry is split into alcoholic and non-alcoholic segments, with higher millennial consumption, augmented disposable incomes, and the increasing appetite for alcoholic drinks propelling the sector's growth. In a major industry advancement, TricorBraun revealed its purchase of CanSource, a vital provider of aluminum can packaging. Since 2011, CanSource has offered high-quality cans for both alcoholic and non-alcoholic beverages, operating production lines throughout the United States. This purchase will improve TricorBraun’s beverage packaging abilities and widen its footprint in the North American market, highlighting that market growth can occasionally entail strategic acquisitions instead of actual expansion.
By Region:
The North American metal cans market is fueled by multiple elements, such as developed infrastructure and a strong recycling sector, both crucial for market expansion. The growth is further supported by the expansion of substantial markets in the area, driven by research-focused key players. The rising sales revenue in the packaging sector is mainly due to manufacturers' strategic emphasis on developing eco-friendly packaging options. Moreover, the increasing use of canned products, especially in the USA and Canada, is projected to enhance the demand for metal containers. Leading companies such as Crown Holdings Inc., Ball Corporation, and BWAY Corporation play significant roles in market advancement, utilizing their advancements in sustainable packaging to enhance profitability. These strategic initiatives correspond with the region's focus on sustainability, guaranteeing the ongoing expansion of the North American metal cans market during the projected timeframe.
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Comprehensive Offerings:
- Historical Market Size and Competitive Analysis (2017–2023): Detailed assessment of market size and competitive landscape over the past years.
- Historical Pricing Trends and Regional Price Curve (2017–2023): Analysis of historical pricing data and price trends across different regions.
- Market Size, Share, and Forecast by Segment (2024–2032): Projections and detailed insights into market size, share, and future growth by segment.
- Market Dynamics: In-depth analysis of growth drivers, restraints, opportunities, and key trends, with a focus on regional variations.
- Market Trend Analysis: Evaluation of emerging trends that are shaping the market landscape.
- Import and Export Analysis: Examination of trade patterns and their impact on market dynamics.
- Market Segmentation: Comprehensive analysis of market segments and sub-segments, with a regional breakdown.
- Competitive Landscape: Strategic profiles of key players across regions, including competitive benchmarking.
- PESTLE Analysis: Evaluation of the market through Political, Economic, Social, Technological, Legal, and Environmental factors.
- PORTER’s Five Forces Analysis: Assessment of competitive forces influencing the market.
- Industry Value Chain Analysis: Examination of the value chain to identify key stages and contributors.
- Legal and Regulatory Environment by Region: Analysis of the legal landscape and its implications for business operations.
- Strategic Opportunities and SWOT Analysis: Identification of lucrative business opportunities, coupled with a SWOT analysis.
- Conclusion and Strategic Recommendations: Final insights and actionable recommendations for stakeholders.
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