Metal Cans Market size is projected to generate sizable growth from 2023 to 2032, as these cans are used in a variety of sectors, including paint, food and beverage, and others due to its multiple benefits.
Hey there! Metal cans are the go-to choice for storing your favorite foods and drinks. They're made from stuff like steel, aluminum, and tin, which makes them light as a feather and easy to pile up. Plus, you can recycle them all day long, which is great news for Mother Earth. But here's the thingmetal cans aren't perfect. You can't pop them into the microwave, and the prices of their raw materials are like a wild roller coaster ride. That makes it tough for companies to expand their sales. But guess what? People love their canned food and drinks, especially those delicious beverages. That's why the food and beverage industry is expected to be a major player in the metal can market. More and more folks are sipping on sodas, juices, sports drinks, and energy boosters. And as people get their drinks on in every corner of the world, metal cans are going to be in high demand. Cheers to that!
In terms of material, the aluminum cans segment is expected to have remarkable demand in the future attributed to the material's non-reactive and lightweight characteristics. This makes it ideal for applications involving the preservation of food and beverages. Moreover, aluminum is becoming popular among beverage manufacturers as it is recyclable and costs less than PET and polycarbonate bottles. For instance, in 2021, VOLNAA launched natural mineral water in cans made entirely of recyclable aluminum with relock technology.
North America is set to hold a sizable portion of the global metal cans market by 2023, owing to growing concern for environmental sustainability. It is also highly used for food and beverage preservation. Growing expenditures on R&D and technical development are further enhancing regional market dynamics.
In Europe, the metal cans industry would expand driven by a growing number of beer drinkers and the introduction of new European Commission's programs for chemical and metal recycling. While the APAC market growth is predicted to be fueled by rising soft drink consumption across major economies like India and China.
Prominent participants operating across the metal cans market include Silgan Holdings Inc., Rexam plc, Ardagh Packaging (Ardagh Group S.A), Toyo Seikan Group Holdings, Crown Holdings Inc. and HUBER Packaging Group GmbH. These firms have been utilizing a variety of business strategies, such as acquisitions, mergers, collaborations, and others, to bring about fresh advances in the commercial sector.
Latest developments in the metal cans industry
- In 2021, Crown Holdings announced an expenditure of USD 147 million to build a 327,000-square-foot facility in Warren County for aluminum can production.
- In 2021, Ardagh Metal Packaging and Gores Holdings V announced their merger to help meet the increasing demand for environmentally friendly beverage cans.
What Information does this report contain?
Historical data coverage 2018 to 2022; Growth Projections 2023 to 2032.
Expert analysis industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts major segments covering applications, top products and geographies.
Competitive landscape reporting market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
