In the realm of convenience and sustainability, the Cans Market stands tall as a beacon of ingenuity, transforming the way we store and consume a myriad of products. These metallic vessels, crafted with precision and innovation, are more than mere containers—they are a symbol of efficiency, durability, and environmental responsibility. Join us on a journalistic journey into the captivating world of the Cans Market, where each aluminum or steel vessel holds within it the promise of freshness, portability, and a sustainable future. From the refreshing fizz of beverages to the practicality of canned goods, this narrative unfolds the story of how cans have become indispensable in modern packaging.
The cans market is poised for significant growth in the coming years. It is anticipated that the global cans market will witness substantial expansion, with an estimated value of US$ 36.99 billion by the year 2023. Looking ahead, can manufacturers can anticipate a steady compound annual growth rate (CAGR) of 3.9% from 2023 all the way through to 2033. This sustained growth trajectory is expected to propel the cans market to reach an impressive US$ 54.23 billion by the year 2033. This promising outlook reflects the enduring demand for cans across various industries and underscores their enduring popularity as a packaging solution.
The surge in processed food and beverage consumption, coupled with a focus on extending product shelf life, and the simultaneous rise in disposable income, are identified as pivotal factors expected to drive the demand for cans in the foreseeable future. This confluence of factors underscores the growing preference for canned packaging solutions, as consumers seek convenience, durability, and enhanced preservation capabilities for their favorite food and beverage products. As the demand for processed and packaged goods continues to rise, cans emerge as a favored choice, positioned to cater to evolving consumer preferences and market dynamics.
Cans are best suited for preserving food as it prevents growth of microorganisms that cause foodborne illnesses. Being 100% recyclable, food cans are expected to be the ideal packaging choices for manufacturers across the globe. They are nowadays emphasizing sustainable packaging solutions.
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Market Growth Factors
The surge in the consumption of processed foods and beverages, coupled with a desire for extended product shelf life and an upswing in disposable income, emerges as a driving force poised to propel the demand for cans in the foreseeable future. According to insightful analysis by FMI, aluminum cans emerge as the stalwarts in reliability, capturing nearly three-quarters of the global cans industry share in 2023.
Primarily employed as beverage cans, their lightweight construction and resilience in handling internal pressure from carbon dioxide underscore their dominance in this dynamic market landscape. As the global taste for canned convenience grows, aluminum cans take center stage, shaping the trajectory of the can industry in the years to come.
Market Trends
According to the Maine Department of Environmental Protection, aluminum cans offer a compelling alternative. Companies can reintroduce an aluminum can to store shelves in as little as 60 days after recycling. Manufacturers are actively exploring aluminum cans as a potential substitute for single-use plastic bottles, aiming to mitigate the adverse environmental impact. An advantage of aluminum cans lies in their recyclability—these cans can be recycled indefinitely without compromising product quality.
Single-use plastic bottles, notorious for their recycling challenges, continue to dominate the beverage packaging landscape. However, heightened concerns surrounding pollution and global warming have led governments to enact regulations, forcing a shift away from single-use plastic products.
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Top Major Players:
Some of the leading participants in the global cans market are Ball Corporation, Mondi Group, 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 Industri, Toyo Seikan Co., Ltd. and Envases Group.
Key Market Players
- Ball Corporation,
- Mondi Group,
- 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.
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
Competitive Landscape:
Leading cans manufacturers are increasing their production capacity to meet the growing demand for aluminum cans across food, beverages, personal care & cosmetics, pharmaceuticals, and paints & lubricants industries.
Meanwhile, other pivotal cans manufacturers are expanding their product portfolios to cater to the growing demand for aluminum cans in various industries.
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About Future Market Insights (FMI)
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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