Metal cans market to grow $81.5 Billion by 2032

The metal cans market was valued at USD 66.4 billion in 2023, and is projected to reach USD 81.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 2.3% between 2024 and 2032, according to Market Introspective.

The report highlights that: “metal cans represent the most commonly used type of packaging in the food and beverage sector, as they extend shelf life, offer excellent protection against external contaminants and are highly recyclable. These cans are recyclable and can be reused infinitely and can be molded into any desired shape.

 Cans contain a highly effective barrier against food contaminants such as moisture, oxygen, bacteria and others that can damage food, beverages and other important products. For this reason, cans are widely used to store perishable products for long periods of time.

The excellent recyclability of metal cans is a crucial factor in the market, attracting consumers and companies that prioritize sustainability. Metal cans, mainly made from aluminum and steel, offer distinctive benefits, as they can be recycled infinitely without degradation in quality, in line with circular economy objectives. In the EU, approximately 94 million tons of scrap metal are recycled each year, which is equivalent to the avoidance of 200 million tons of CO2. Metal cans play a key role in this recycling total; UK households use 9 billion beverage cans and 600 million aerosol cans each year, highlighting the huge recycling potential of metal cans.
The rapid growth of the global beverage industry is a major factor contributing to the increasing demand for metal cans, especially aluminum cans. With consumers’ increasing inclination towards sustainability, the demand for metal cans has increased significantly due to their ecological advantages and their ability to maintain product quality.

In North America, more than 75% of new beverage launches are now packaged in cans, up significantly from 30% just five years ago. This shift is driven by growing consumer demand for recyclable and environmentally friendly packaging.

The metal can industry is experiencing a remarkable surge driven by the growing need for convenient, recyclable and portable packaging, especially in the beverage and ready-to-eat food markets. With accelerating consumer lifestyles, a preference for portable and individual-sized packaging options is emerging.