Expected to thrive with an average Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2033, the canned food packaging market is poised to secure a substantial market share of US$ 46.70 billion by 2033. Contrasting the projected 2033 figure, the market is forecasted to be valued at US$ 29.22 billion in 2023. This growth trajectory underscores a steady and robust demand for efficient and sustainable packaging solutions within the canned food industry. The market’s progression signals a shift towards increased consumer reliance on canned products and an evolving preference for packaging that ensures product freshness and convenience.
North America has consistently maintained its position as the leading market for canned food packaging, and this trend is expected to persist throughout the forecast period. The region’s enduring prominence in the canned food packaging market can be attributed to its substantial consumption of canned food products. As middle-class households in North America experience an increase in disposable incomes, there is a noticeable shift toward more convenient and health-conscious lifestyles. This socioeconomic change is anticipated to further bolster the canned food packaging market.
The rapid growth of the food industry in North America is set to cement the region’s status as the next dominant player in this sector. With a strong emphasis on convenience, quality, and innovation, North America is likely to exhibit high adoption rates for canned food packaging in the coming years. As of 2022, the region had already garnered a significant market share of 29%, underscoring its pivotal role in shaping the future of the canned food packaging industry.
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- The restoration of the food and beverages sector and the higher online shopping scenarios are expected to flourish the market growth. Furthermore, a wide range of applications, including pharmaceutical and packaged ready-to-eat processed food items, are pushing companies to launch these products.
- Advanced metal packaging for beverages (alcoholic and non-alcoholic) consumes a large chunk of the market. Higher promotional activities, interesting designs, and different trends also influence the end user companies to update their canned packaging frequently.
- Alternative materials such as different grades of plastic and other biodegradable materials are getting popular among the brands as they support their idea of sustainable packaging. Alongside this, new distribution channels such as hypermarkets, online delivery, and independent retailers also showcase different types of packaging styles.
- New can-making machines with higher production and limited error in design are enriching the supply chain, producing durable cans of different sizes and designs. The restoration of the travel and tourism sector has also pushed people to carry ready-to-eat meals, positively affecting the market.
Key Points
- The United States market leads the North American canned food packaging market in market share. The United States held a healthy market share in 2022. The factors attributed to the growth are the rising popularity of canned beverages among youngsters, the launch of organic and natural consumables packed in cans, and the rising tourism industry. The North American region held a market share of 29% in 2022.
- The German canned food packaging market held a healthy market share in 2022. The market growth is caused by the higher tourist footfall, authentic and local German food products transforming their packaging style, and several social events like music concerts. The European region held a market share of 36% in 2022.
- The Indian market thrives at a steady CAGR between 2023 and 2033. The growth is attributed to the higher consumption of packaged items and increasing sales of international food items with canned packaging. The Asia Pacific region held a market share of 25% in 2022.
- Based on the type of food, the canned seafood and fish segment leads the market.
- Based on material type, the aluminum segment leads the market with the leading market share.
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Market Drivers:
- Convenience and Portability: Canned food offers convenience and portability, making it a popular choice for consumers with busy lifestyles. The packaging provides a ready-to-eat solution without the need for additional preparation or refrigeration.
- Extended Shelf Life: Canned food packaging helps in preserving the quality and freshness of the food for an extended period. The airtight seal protects against contaminants, spoilage, and bacterial growth, contributing to a longer shelf life.
- Product Innovation: Continuous advancements in packaging materials and technologies contribute to product innovation, enhancing the appeal of canned food. Packaging innovations may include easy-open lids, improved barrier properties, and eco-friendly materials.
- Globalization of Food Supply Chains: With the globalization of food supply chains, canned food allows for efficient transportation and distribution of products across regions without compromising the quality or safety of the food.
- Sustainability Initiatives: Some canned food packaging manufacturers are adopting sustainable practices, such as using recyclable materials and reducing the environmental impact of their packaging. This aligns with the growing consumer demand for eco-friendly options.
Market Restraints:
- Environmental Concerns: Despite efforts to adopt sustainable practices, the use of certain materials in canned food packaging, such as plastics and aluminum, may raise environmental concerns. Recycling and waste management issues could act as restraints.
- Perceived Health Risks: There have been concerns about the potential health risks associated with certain packaging materials, such as bisphenol A (BPA) in the lining of some cans. Consumer awareness and preferences for healthier alternatives might impact the market.
- Competition from Fresh and Frozen Alternatives: The increasing availability and popularity of fresh and frozen food options may pose a challenge to the canned food market. Consumers seeking fresher and less processed alternatives could opt for these options over canned products.
- Cost Considerations: The cost of packaging materials and production processes can impact the overall cost of canned food products. Economic factors and fluctuations in raw material prices may influence the affordability and competitiveness of canned goods.
- Regulatory Compliance: Stringent regulations regarding food safety, labeling, and packaging materials may pose challenges for manufacturers in terms of compliance and meeting evolving standards.
Competitive Landscape
The key suppliers focus on better design, size, materials, and packaging. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Key Players
- Ball Corporation
- Del Monte Foods, Inc.
- Crown Holdings
- Amcor Limited
- Anchor Glass Container Corporation
- Siligan Containers
- Ardagh Group
- Greif Incorporated
- Toyo Seiken
- Huber Packaging
Recent Market Developments
- Amcor Limited has introduced three types of material for its canned packaging offerings: AmFiber (Paper Based), AmFoil (Aluminum Based), and Plastic Based.
- Sign Containers has introduced its sustainable program for can manufacturing with metal recyclers. The brand offers 100% recyclable cans with efficient operations.
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Key Segments Covered
By Type of Food:
- Canned Fish and Seafood
- Canned Vegetables
- Canned Meat Products
- Canned Fruits
- Canned Ready Meals
- Milk and Sauces
- Beans and Legumes
- Other Canned Food Products
By Distribution Channel:
- Supermarkets and Hypermarkets
- Independent Retailers
- Convenience Stores
- Specialist Retailers
- Other Distribution Channels
By Raw Material:
- Aluminium
- Steel
- Tinplate
- Glass
- Plastic
By Types of Can:
- 3-piece Welded
- 2-piece
- D&I
- DRD
- Drawn Wall-Ironed
- Single Drawn
- Open Top Sanitary
By Preservation Technique:
- Pressurized Food Packaging Cans
- Vacuum Food Packaging Cans
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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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