Canned Food Packaging Market: Sales Projection Surges with an Average CAGR of 4.8% by 2033, Reflecting Flourishing Growth Trends

Between 2023 and 2033, the canned food packaging market is poised for substantial growth, with an anticipated average Compound Annual Growth Rate (CAGR) of 4.8%. By 2033, market projections suggest a robust market share of US$ 46.70 billion, compared to the anticipated value of US$ 29.22 billion in 2023. This upward trajectory reflects the increasing demand for convenient and durable packaging solutions within the food industry. As consumer preferences continue to evolve towards convenience and sustainability, the canned food packaging market is expected to play a pivotal role in meeting these demands while ensuring product integrity and shelf-life extension.

The surge in consumer demand for ready-to-eat canned foods and out-of-seasonal food items stands as a pivotal driver propelling the expansion of the worldwide canned food packaging market. Leveraging canning techniques proves to be an economical method for preserving perishable commodities while retaining their flavor integrity to a significant extent. Consequently, the burgeoning horticulture and seafood processing sectors play a substantial role in bolstering the advancement 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.

Growth Drivers:

1. Convenience: Canned food offers convenience to consumers as it is ready-to-eat or requires minimal preparation. This convenience factor is particularly appealing to busy individuals and families.
2. Extended Shelf Life: Canning technology allows for the preservation of food for extended periods, ensuring longer shelf life compared to fresh produce. This longer shelf life reduces food waste and enables stockpiling, contributing to increased sales.
3. Product Innovation: Continuous innovation in packaging materials and designs enhances the appeal of canned foods. Packaging innovations such as easy-open lids, resealable cans, and microwaveable packaging cater to evolving consumer preferences.
4. Health and Nutrition: Canned foods often retain their nutritional value well, and manufacturers are increasingly focusing on offering healthier options, such as low-sodium or organic varieties. This appeals to health-conscious consumers seeking convenient yet nutritious meal solutions.
5. Cost-Effectiveness: Canned foods are generally more cost-effective than fresh or frozen alternatives, making them accessible to a wide range of consumers, including budget-conscious individuals and families.
6. Globalization: The globalization of food supply chains has led to increased accessibility to a wide variety of canned foods from different regions and cuisines, driving demand among consumers seeking diverse culinary experiences.
7. Emergency Preparedness: Canned foods are a staple in emergency preparedness kits due to their long shelf life and non-perishable nature. Events such as natural disasters and the COVID-19 pandemic have further highlighted the importance of having shelf-stable food supplies on hand, boosting sales.

Industry Restraints:

1. Perception of Freshness: Despite advancements in packaging technology, some consumers perceive canned foods as less fresh or inferior in quality compared to fresh produce. Overcoming this perception remains a challenge for the industry.
2. Environmental Concerns: The packaging of canned foods often involves the use of metals such as aluminum and steel, which have environmental implications in terms of resource extraction, energy consumption, and recycling. Growing environmental awareness among consumers has led to calls for more sustainable packaging solutions.
3. Competition from Alternatives: Canned foods face competition from alternative packaging formats such as pouches and Tetra Paks, which offer similar convenience benefits with potentially lower environmental impact. Additionally, the rise of fresh meal kits and prepared foods poses a challenge to the canned food market.
4. Health Considerations: While canned foods provide convenience, some consumers are concerned about potential health risks associated with certain packaging materials, such as BPA (bisphenol A). Manufacturers need to address these concerns through the use of alternative packaging materials or by providing BPA-free options.
5. Supply Chain Disruptions: Disruptions in the supply chain, whether due to natural disasters, geopolitical events, or pandemics, can impact the availability of raw materials and transportation logistics, leading to challenges in production and distribution.
6. Regulatory Compliance: Compliance with regulations governing food safety, labeling, and packaging materials adds complexity and costs to the manufacturing process, particularly for smaller players in the industry.

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Key Points

1. 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.
2. 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.
3. 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.
4. Based on the type of food, the canned seafood and fish segment leads the market.
5. Based on material type, the aluminum segment leads the market with the leading market share.

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

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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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