According to a recent FMI report, the global canning equipment market is expected to exceed US$ 20.15 billion by 2033. It is expected to grow at a CAGR of 4.4% between 2023 and 2033.
The growing demand for superior and highly portable packaging solutions to protect goods from the elements is expected to bode well for the market. The introduction of new fruit juices and sports drinks is fueling global demand for durable beverage cans.
Rising consumption of non-alcoholic products, especially among health-conscious consumers and high demand for ready-to-drink (RTD) products in can packaging are also anticipated to fuel the market. Country wise, the U.S. is considered to be the biggest market for beverage cans with the largest per capita can consumption in the world.
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With growing health consciousness among millennials worldwide, several beverage manufacturers are coming up with upgraded and innovative products. They are mainly focusing on infusing their products with low-sugar, low-calorie, and natural ingredients such as stevia. This factor is further expected to help consumers shift rapidly towards non-alcoholic beverages.
Key Takeaways from the Canning Equipment Market Study:
- The global canning equipment market exhibited steady growth at a CAGR of 2% during the historical period from 2018 to 2022.
- The U.K. is set to generate a share of around 22% in the Europe canning equipment market during the evaluation period.
- The canning equipment market in the U.S. is projected to account for around 68% of share in North America.
- The China canning equipment market is projected to grow at a CAGR of around 19% over the next ten years.
- The Mexico canning equipment market is projected to grow at a CAGR of around 32% over the next ten years.
“Launch of limited-edition beverages infused with cannabidiol, which is a non-psychoactive component of the cannabis plant, is likely to push sales in the global canning equipment market,” says a lead analyst at Future Market Insights.
Competitive Landscape: Canning Equipment Market
Cask Brewing Systems Inc., Wild Goose Canning Systems, Dixie Canner Co., Enterprise Tondelli, and Vigo Ltd. are expected to be the top players driving the canning equipment market.
North America currently holds the largest market share. However, Asia Pacific is likely to take over in the projected period. This can mainly be attributed to the high consumption patterns and strong disposable income levels of people in the region. Furthermore, the Asia Pacific canning equipment market is expected to increase at a fast pace in the next ten years due to rising preference for canning over other forms of packaging with their ease of transportation.
Get More Valuable Insights into Canning Equipment Market
FMI, in its new offering, provides a rigorous analysis of the canning equipment market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033).
The study divulges compelling insights on the demand for canning equipment by canning capacity (up to 100 cans per hour, between 100-500 cans per hour, 500-1000 cans per hour, more than 1000 cans per hour), end user (agriculture industry, food & beverages industry, pharmaceutical industry, petrochemical industry, cosmetics industry, beer industry), product type (can seaming machine, can body reformers, can flanging machine), can material type (metallic can seamers, non-metallic can seamers), and automation grade (automatic, semi-automatic, manual) across seven major regions.
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Canning Equipment Market Outlook by Category
By Canning Capacity:
- Up to 100 Cans Per Hour
- Between 100-500 Cans Per Hour
- 500-1000 Cans Per Hour
- More than 1000 Cans Per Hour
By End User:
- Agriculture Industry
- Food & Beverages Industry
- Pharmaceutical Industry
- Petrochemical Industry
- Cosmetics Industry
- Beer Industry
- Others
By Product Type:
- Can Seaming Machine
- Can Body Reformers
- Can Flanging Machine
By Automation Grade:
- Automatic
- Semi-Automatic
- Manual
By Can Material Type:
- Metallic Can Seamers
- Non-Metallic Cans (Aluminum Can Seamers)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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