Cans Market

Global Cans Market is valued at USD 56.04 Billion in 2022 and it is expected to reach ~USD 77.56 Billion by 2029 with a CAGR of +4.75% over the forecast period.

Scope of Global Cans Market Report-

Cans have been used for packaging various products for over two centuries. The first canned food was produced in 1810 by a Frenchman named Nicolas Appert. However, the canning process was not fully developed until the mid-19th century when the use of tinplate and soldering techniques improved. Cans are commonly used for packaging various products such as food and beverages, chemicals, and healthcare products.

In the food and beverage industry, cans are widely used for packaging beer, soft drinks, juices, vegetables, fruits, meat, fish, and other products. The end-users of the cans market are manufacturers of food and beverage products, chemical companies, and healthcare product manufacturers.

Revenue Generation Model:

The revenue generation model of the cans market is based on the sale of the cans to the end-users. The manufacturers of the cans generate revenue by selling the cans to the manufacturers of the products that are to be packaged in the cans.

Supply Chain Model:

The supply chain model of the cans market involves the sourcing of raw materials, manufacturing of the cans, packaging of the products in the cans, and distribution of the cans to the end-users.

Value Chain Model:

The value chain model of the cans market involves the creation of value through the manufacturing of the cans, packaging of the products in the cans, and distribution of the cans to the end-users.

COVID-19 Impact on the Cans market:

The COVID-19 pandemic has had a significant impact on the cans market, both positive and negative. On the positive side, The pandemic led to a surge in demand for canned food and beverages as people stockpiled essential items due to lockdowns and social distancing measures. However, on the negative side, the pandemic caused significant disruptions to global supply chains, including those in the cans market. The closure of factories and ports, restrictions on transportation, and shortages of raw materials all led to a shortage of cans in some regions. The pandemic also led to a decrease in demand for certain products, such as alcoholic beverages and non-essential items, which are typically packaged in cans. This decrease in demand led to a corresponding decrease in demand for cans.

Key Players of Global Cans Market Report-

Some major key players for the global Cans market report cover prominent players like:

• Ardagh Group
• Ball Corporation
• Crown Holdings Inc.
• Silgan Holdings Inc.
• Kian Joo Can Factory Berhad
• Toyo Seikan Group Holdings Ltd.
• CPMC Holdings Limited
• Can-Pack S.A.
• HUBER Packaging Group GmbH
• Great China Metal Industry Co. Ltd.
• Showa Denko K.K.
• CPMC Holdings Limited
• Tata Steel Packaging
• Daiwa Can Company
• Nampak Ltd.
• CCL Industries Inc.
• Independent Can Company
• Universal Can Corporation
• Rexam PLC
• Tetra Pak
• BWAY Corporation
• Colep Portugal S.A.
• Massilly Group
• Berlin Packaging
• Montebello Packaging
• Greif Inc.
• Impress Group B.V.
• Mitsubishi Aluminum Co.Ltd.
• Envases Universales de Mexico

Global Cans Market Segmentation: -

By Material:

• Aluminum
• Steel

By Product:

• 2- Piece Draw Redraw (DRD)
• 2- Piece Drawn and Ironed
• 3- Piece

By Closure:

• Easy-Open End (EOE)
• Peel-off End (POE)
• Others

By End-User:

• Food and Beverage
• Pharmaceutical Industry
• Personal Care
• Cosmetic Products
• Industrial Chemicals

Market Drivers:

Rising demand for canned food and beverages: The rising demand for canned food and beverages can be attributed to several factors. Canned products offer convenience, allowing consumers to store and consume products for longer periods without spoilage. The demand for canned food and beverages has increased due to the COVID-19 pandemic, as consumers stockpiled essential goods and turned to canned products as safe and long-lasting options. The Can Manufacturers Institute (CMI) reported that canned food and beverage sales in the United States increased by 15.5% in 2020 compared to the previous year, with canned soup, canned meat, and canned vegetables experiencing the highest growth rates.

Advancements in can manufacturing technology: Advancements in cans manufacturing technology have played a significant role in driving the growth of the cans market. Modern can manufacturing technology has enabled manufacturers to produce cans that are lighter, stronger, and more durable than traditional cans. For example, the use of thinner metal sheets and improved sealing techniques has led to the production of cans that require less material and have a longer shelf life.

Additionally, new manufacturing processes have made it possible to produce cans in a wider range of shapes and sizes, allowing manufacturers to create innovative and unique packaging solutions. Furthermore, advancements in printing technology have made it possible to print high-quality graphics and designs directly into cans, enhancing their visual appeal and branding potential.

Market Restraints:

Stringent government regulations related to the use of metal packaging materials: Stringent government regulations related to the use of metal packaging materials can be a restraining factor for the canned food and beverage industry. Governments around the world are increasingly implementing regulations aimed at reducing the environmental impact of packaging materials, including metals such as aluminum and steel used in can manufacturing.

For example, some countries have imposed taxes or fees on metal packaging materials to encourage the use of more sustainable alternatives, such as biodegradable or compostable materials. Additionally, some governments have banned or restricted the use of certain packaging materials, including metals, in an effort to reduce waste and protect the environment.

Limited shelf life of certain canned products: The limited shelf life of certain canned products can be a restraining factor for the canned food and beverage industry. While canned products are generally known for their longer shelf life compared to fresh or frozen products, some types of canned foods and beverages have a relatively short shelf life, which can limit their marketability and increase the risk of waste.

For example, canned fruits and vegetables typically have a shelf life of 1-2 years, while canned meat and seafood can last up to 5 years. However, some products such as canned dairy and baked goods have a shorter shelf life of 6-12 months and can lose their flavor, texture, and nutritional value over time.

Opportunity Factors:

The opportunity factors for the cans market include the increasing demand for canned food and beverages, the growth of the e-commerce industry, the rising popularity of ready-to-eat meals, and the increasing demand for eco-friendly packaging solutions.

Market Trends:

Product and Technology Development:

The market trends specific to product and technology development in the cans market include the development of easy-to-open and resealable cans, the use of advanced coatings to increase the shelf life of the products, and the adoption of smart packaging technology.

Customer Trends:

The customer trends in the cans market include the increasing demand for healthy and convenient food and beverage products, the rising awareness about eco-friendly packaging solutions, and the growing preference for online shopping.

Market Competition Nature:

Competition in the cans market is intense, with a few major players dominating the global market. These key players include Crown Holdings, Inc., Ardagh Group S.A., Ball Corporation, Silgan Holdings Inc., and CAN-PACK S.A. These companies are constantly striving to maintain their market position and increase their market share through various strategies.

Some past strategies that have been implemented by key players in the cans market include mergers and acquisitions, expansion into new markets, and investment in research and development. For example, in 2019, Ball Corporation acquired aluminum extrusion assets from Arconic Inc. in a deal worth $2.5 billion, expanding its product portfolio and increasing its presence in the aerospace industry.

In terms of future strategies, key players in the cans market are expected to focus on sustainability, innovation, and customization. These strategies include:

Sustainable packaging: Key players are expected to invest in developing and producing cans with a lower carbon footprint, using recycled materials, and improving the recycling process for used cans.

Innovation: Key players are expected to invest in research and development to develop new types of cans with improved functionality, such as self-heating cans, and to improve the design of cans to make them more appealing to consumers.

Customization: Key players are expected to offer customized solutions for their customers, such as personalized labeling and packaging, to meet the unique needs of different brands and product categories.

Geography Analysis:

North America:

North America is a significant market for cans, driven by the increasing demand for convenience food and beverages and the popularity of canned products among consumers. The United States is the largest market for canned food and beverages in the region, with a high per capita consumption of canned products.

In addition, the growth of e-commerce and online grocery retail in North America has led to an increase in the sales of canned products through online channels, providing new opportunities for manufacturers and retailers in the region.

However, the North American market is also facing challenges related to sustainability and environmental concerns, as well as increasing competition from alternative packaging materials and formats such as pouches and cartons. This has led to the development of new and innovative can designs and materials, as well as a focus on improving the recyclability and sustainability of cans.

In the United States, the per capita consumption of canned food and beverages was 22.3 pounds in 2020, according to the Can Manufacturers Institute.

Europe:

The European cans market is a mature market, with a high level of penetration and a wide range of applications in the food and beverage industry. The market is dominated by a few major players, with a focus on innovation and sustainability.

However, the European market is also facing challenges related to sustainability and environmental concerns, as well as increasing competition from alternative packaging materials and formats such as pouches and cartons. This has led to a focus on improving the recyclability and sustainability of cans, as well as the development of new and innovative can designs and materials. The recycling rate for steel packaging in Europe was 80.5% in 2019, but there is still room for improvement in terms of increasing the recycled content of cans and reducing the environmental impact of can production and transportation. In the United Kingdom, sales of canned food and beverages increased by 6.7% in 2020 compared to the previous year.

By Regional & Country Level:

• North America
  • US.
  • Canada
• Europe
  • UK.
  • France
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • GCC
  • Africa
  • Rest of Middle East and Africa

Key Benefits of Global Cans Market Report–

• Global Cans Market report covers in-depth historical and forecast analysis.
• Global Cans Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
• Global Cans Market report helps to identify opportunities in the marketplace.
• Global Cans Market report covers an extensive analysis of emerging trends and the competitive landscape.