The global Cans Market is on a growth trajectory, with an estimated size set to reach a significant valuation of US$ 36.99 billion by the year 2023. Manufacturers operating in the Cans Market can anticipate a noteworthy Compound Annual Growth Rate (CAGR) of 3.9% spanning from 2023 to 2033. By the culmination of 2033, the Cans Market is projected to expand even further, attaining an impressive valuation of US$ 54.23 billion.
Emerging economies such as China and India collectively held a significant market share of 36% in the year 2023, and they are poised to exhibit a compelling compound annual growth rate (CAGR) of 4.9% throughout the forecast period. This growth is underpinned by the mounting consciousness of sustainability and a surge in innovative product introductions by major corporations operating within these nations.
Several key factors are anticipated to fuel the demand for cans throughout the forecast period. These factors include increased consumption of processed foods and beverages, the extension of product shelf life, and the rising disposable income of consumers. These drivers are expected to have a compelling impact on the Cans Market, driving its growth.
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Leading Trend Stimulating Cans Sales
Soaring Demand for Recyclable Packaging Solutions
Single-use plastic bottles, notorious for their recycling challenges, have long been the favored choice for beverage packaging. However, mounting concerns about pollution and global warming have compelled government agencies to take drastic measures, including the prohibition of single-use plastic products.
According to the Maine Department of Environmental Protection, the transition to aluminum cans has gained traction within the industry. Manufacturers are increasingly exploring aluminum cans as a viable substitute for single-use plastic bottles, motivated by their potential to mitigate the adverse environmental impacts. Unlike plastic bottles, aluminum cans offer the advantage of being infinitely recyclable without any compromise on product quality, reinforcing their appeal as an eco-friendly alternative.
Market Drivers:
- Increased Consumption of Packaged Foods and Beverages: The growing demand for convenience foods and beverages, including carbonated drinks, beer, and ready-to-eat meals, drives the demand for cans as a convenient and portable packaging solution.
- Sustainability and Recycling: The recyclability of aluminum and steel cans is a significant driver, as environmental concerns lead consumers and companies to choose eco-friendly packaging options.
- Product Shelf Life Extension: Cans provide an effective barrier against light, air, and moisture, helping to extend the shelf life of products and reduce food waste.
- Rising Disposable Income: The increase in disposable income in emerging markets has led to higher consumption of canned beverages and foods, boosting the Cans Market.
- Convenience and Portability: Cans are lightweight and easy to transport, making them a preferred choice for on-the-go consumption, picnics, and outdoor activities.
- Brand Differentiation: Packaging plays a crucial role in brand differentiation, and companies often use unique can designs and labeling to attract consumers.
- E-commerce Growth: The rise of e-commerce has increased the demand for cans, as they are suitable for shipping and online retail packaging.
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Key Market Players
- Novelis Inc.,
- Crown Holdings, Inc.,
- Silgan Holding Inc.
- Ardagh Group S.A
- Orora Packaging Australia Pty. Ltd.
- The Olayan Group
- Ardagh S.A.
- Canpack
- CPMC Holdings Ltd.
- Bangkok Can Manufacturing
- Nampak Ltd.
- Mahmood Saeed Beverage Cans & Ends Industry Company Ltd.
- Kian Joo Can Factory Berhad
- Swan Industries (Thailand) Company Ltd.
- GZ Industries Ltd.
- Toyo Seikan Co., Ltd.
Key Segments
By Material Type:
- Aluminum
- Steel/Tin Plated
- Plastic
- Paper Composites
By Capacity:
- Up to 200 ml
- 201 to 750 ml
- More than 750 ml
By End Use:
- Food
- Beverages
- Alcoholic Beverages
- Non-alcoholic Beverages
- Healthcare
- Cosmetics & Personal care
- Homecare Products
- Paints & Lubricants
- Other Consumer Goods (Gifts, Toys, Merchandizing, etc.)
By Region:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
- South Asia
- Oceania
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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