Food Can Market – Global Industry Analysis and Forecast (2023-2029)

Food Can Market size was valued at US$ 31.06 Bn. in 2022 and the total revenue is expected to grow at 6.1% through 2023 to 2029, reaching nearly US$ 47.02 Bn.
Food Can Market Overview:
The processed food industry uses the canning method to provide better shelf life for the product. Food Cans are the best alternative for single-use plastic packaging products. Due to the high rate of recycling, food cans are being opted by a large population which drove the high demand for food cans.

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Food Can Market Dynamics:
The market for Food Can has grown as a result of the high recycling rates of aluminum, as well as an increase in the number of health-conscious clients and a growing awareness of healthy nutrients in food and beverages. The rise in public awareness of the negative consequences of using single-use plastics, as well as government intervention in banning the use of such plastics that hurt the environment, has fuelled the growth of the Food Can Market.

Food cans have a shelf life ranging from one to five years, depending on the sealing technology used. Customers, particularly millennials, prefer canned food since it is cost-effective and long-lasting.

Cans, which have been largely replaced on store shelves by dry dog foods and wet pet foods packaged in cubes and other flexible, plastic-based setups over the years, continue to have a place in the increasingly competitive pet food market, which includes both specialty and traditional brands and stores. Can have a long history of appeal due to several factors. The biggest advantage of including canned food recipes into a dog's diet is that it strengthens the bond between pet owners and their children during mealtime. The design of pet food packages isn't an all-or-nothing proposition. While dry food remains the most popular choice for pets due to its convenience, wet food has several advantages.

Aluminum can contain up to 70% recycled metal making it the most recycled beverage container by far. Aluminum cans are completely impervious to oxygen, light, moisture, and other pollutants. They are corrosion-resistant and have one of the longest shelf lives of any package. These cans' lightweight and ability to stack provide storage and shipping efficiencies, as well as reduce overall transportation carbon emissions through logistics and supply chains, promoting their acceptance in packaging. A total of 125 billion aluminum cans are recycled annually. Recycled aluminum requires 95% less energy than new aluminum production and produces only 5% of greenhouse gas emissions.
Opportunities
Increasing demand for packaging plastic alternatives will boost the growth of the metal can market. Increased environmental awareness will stimulate demand for metal cans. The booming food and beverage industry offers sales opportunities for metal cans. Ease of recycling and durability of transportation are factors that support the growth of the market.

Mobile canning service with small off volumes, minimal cost and innovative flexibility and shrink sleeve option made cans striking for small players. Wine in cans are the new trends and fastest growing segment with sale growth of 68% with 188.8 million in 2021.
Restraints
The high demand for aluminum for manufacturing led to a scarcity of raw materials like steel and aluminum sheets. Delay in the supply of orders to top players creates instability in pricing.
Food Can Market Segment Analysis:
By Material, The aluminum segment is expected to dominate the market with CAGR of xx% during the forecast period. This is due to the economics and recycling rate of aluminum. The increasing use of metal packaging for food and beverage packaging provides a sustainable and environmentally friendly solution for packaging in multiple applications. It is convenient to keep the aluminum cans in the refrigerator or oven. Changes in consumer preferences can be observed in food and beverage packaging. According to the US Environmental Protection Agency (EPA), 1.9 million tons of aluminum packaging was manufactured for beer and soft drink cans, and 49.2% of aluminum beverage cans were recycled. Metal packaging for the food industry is considered safe, which is one of the most important factors for market growth.

By Application, the Beverage segment is the dominating in the Global Food Can Market. Beverage cans are estimated to hold a large share by 2029, due to the increase in consumption of soft drinks, non-soft drinks, sports drinks, and energy drinks. Increased consumption of alcoholic beverages will lead to growth in the beverage can market. In addition, changing consumer trends in healthy beverages are driving the metal can market over the forecast period.

By Type, 2 Piece type of cans is the dominating segment in the global food cans market as it replaced the 3 piece cans which cause lead pollution and hence for better sustainable and environmentally friendly option, 2 pieces can have taken over the market. 2 piece cans required higher grade metal which gives durability and lightweight if made in aluminum and due to high-quality material, it has a high rate of recycling. One bottom and body of the can made from one sheet which is seamless and gives lightweight structure with high durability is the main factor for 2 piece cans to dominate the global food cans market.

Regional Insights:
North America Dominates the global food can market with total 118 billion units sold in United States and Canada. In the North American region, the market for food and beverage metal cans is mostly driven by rising consumer awareness of environmental sustainability. North America is a major food and beverage manufacturer. Furthermore, North America is one of the world's largest consumers of aluminum cans, and the region is controlled by a high number of packaged food and beverage consumers. The domestic manufacturing of food and beverage metal cans in North America is likely to benefit from increased investment in R&D and technological developments. These factors influence the food industry.

APAC accounts for 18% of the total food can market. However, China is at the top of the APAC region's charts for canning procurement and consumption. This is due to the busy lifestyle of people who do not like to spend time on elaborate procedures. ASEAN countries such as Vietnam and Malaysia are developing as major regions of the food can market APAC food can market is expected to grow rapidly for a booming industry with a large population ready to spend on processed and packaged foods.

The potential Food Can market attracted a new foreign entry, the Poland-based CANPACK Group. In July 2021, CANPACK, with 33 plants in Europe, North Africa, the Middle East, Asia and Latin America, announced plans to build a 1 billion can capacity Greenfield plant with room to expand to 3 billion cans. Ardagh is currently the only example of a foreign investor entering North America through the acquisition of Impress Group and the sold Ball Rexam Plant as a result of antitrust decisions.

The objective of the report is to present a comprehensive analysis of the Global Food Can market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Food Can market dynamics, structure by analyzing the market segments and projecting the Global Food Can market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Food Can market make the report investor’s guide.
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Food Can Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 31.06 Bn.


Forecast Period 2023 to 2029 CAGR:
6.1%
Market Size in 2029:
US $ 47.02 Bn.


 Segments Covered:
by Material
Aluminum
Steel


by Type
2-Piece
3-Piece


by Application
Food
Beverages



Food Can Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. Crown Holdings
2. Ball Corporation
3. Silgan Holdings Inc.
4. Ardagh Group
5. CAN-PACK S.A
6. Kian Joo Group
7. CPMC Holdings Limited
8. Heineken
9. Kraft Heinz Company
10. Suntory
11. Asahi Group
12. CHS Inc.
13. Coca-Cola European Partners
14. Bunge
15. Carlsberg.
16. Irwin Packaging Pty Ltd.
17. Independent Can
18. Huber Packaging Group
19. Toyo Seikan Group Holdings Ltd.
20. Sonoco Products
21. Amcor
22. Allstate Can Corporation
23. Can Pack S.A.
24. Lucky Star Ltd
FAQ
1] What segments are covered in the Global Food Can Market report?
Ans. The segments covered in the Global Food Can Market report are based on Material, Application, and Type.

2] Which region is expected to hold the highest share in the Global Food Can Market?
Ans. North America region is expected to hold the highest share in the Global Food Can Market.

3] What is the market size of Global Food Can Market by 2029?
Ans. The market size of the Global Food Can Market by 2029 is US $ 47.02 Bn.

4] Who are the top key players in the Global Food Can Market?
Ans. Crown Holdings, Ball Corporation, Silgan Holdings Inc., Ardagh Group, CAN-PACK S.A, Kian Joo Group, CPMC Holdings Limited, Heineken, Kraft Heinz Company, Suntory, Asahi Group, CHS Inc., Coca-Cola European Partners, Bunge, Carlsberg., Irwin Packaging Pty Ltd.,

5] What was the market size of the Global Food Can Market in 2022?
Ans. The market size of the Global Food Can Market in 2022 was US $ 31.06 Bn.