The metal food and beverage cans market is estimated to reach $50.42 billion in 2024 and is projected to reach $70.72 billion by 2029, at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2029, according to a report published by MarketsandMarkets™.
The advantages of metal packaging for food and beverage preservation are responsible for the growth of this demand.
By coating type, cans with glossy coatings accounted for the largest share in 2024 in terms of value in the metal food and beverage cans market.
The metal food and beverage can market is divided into two segments: gloss-coated cans and white base cans. Gloss coated cans are metal cans used in the food and beverage industry, distinguished by their shiny, reflective finish. This coating enhances the visual appeal of the cans, giving them a sleek, glossy appearance that stands out on store shelves. Beyond aesthetics, the glossy coating provides an additional layer of protection.
By degree of internal pressure, it is estimated that pressurized cans will grow at a higher rate in the metal food and beverage can market.
Aluminum and steel packaging, often referred to as general line or specialty cans, has emerged as a premium option in the consumer products market due to its versatility in both food and non-food applications.
These lightweight materials offer a cost-effective and impact-resistant solution, making them ideal for a variety of products. In addition, the smooth surface of metal cans presents a prime opportunity for brand marketing, allowing companies to showcase innovative designs and differentiate their products. The flexibility of steel and aluminum allows for unique and attractive packaging that enhances product appeal.
Asia-Pacific is projected to experience the highest growth rate during the forecast period.
According to the United Nations Population Fund (UNFPA), the Asia-Pacific region is home to 60 percent of the world’s population, totaling approximately 4.3 billion people, including the world’s most populous countries, China and India. Following significant growth in 2023, the Asia-Pacific (APAC) region is projected to be the fastest growing region in the global economy by 2024. This growth will be driven by robust domestic demand in East Asia and India, along with a moderate recovery in East Asian exports. This rapid population growth and industrialization will drive the metal cans market in APAC.
Key players in the food & beverage metal cans market include Crown Holdings, Inc (U.S.), Ball Corporation (U.S.), Silgan Holdings Inc (U.S.), Ardagh Group (Luxembourg), CCL Industries (U.S.), CAN-PACK S.A (Poland), Kian-Joo Group (Malaysia), CPMC Holdings (China), Envases Group (Spain), and Toyo Seikan Group Holdings, Ltd (Japan). These players in the market are focusing on increasing their presence through expansion and collaboration. These companies have a strong presence in North America, Asia-Pacific and Europe.
MarketsandMarkets™ has been recognized as one of the best management consulting firms in America by Forbes, according to its recent report.
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Rest of the World metal can market
Food and Beverage Metal Cans Market by Internal Pressure Grade
