Food & Beverage Metal Cans Market Size Worth $48.52 Billion by 2028: The Brainy Insights - Yahoo

The usage of environmentally friendly goods and technological advancement will lead to the growth of the food & beverage metal cans market over the forecast period. Increasing usage of metal packaging for food & beverages offers a sustainable and environmentally friendly packaging approach in various applications. The North America region emerged as the largest market for the food & beverage metal cans, with a 34.2% share of market revenue in 2020.

Newark, April 06, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global food & beverage metal cans market is projected to grow from USD 24.4 billion in 2020 to USD 48.52 billion by 2028, at a CAGR of 8.4% over the forecast period 2021-2028. The Asia-Pacific market for food & beverage metal cans is projected to expand rapidly due to a rising economy with a broad customer base willing to spend on processed food & beverages.

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The Brainy Insights has published a new research report titled, "Food & Beverage Metal Cans Market by Type (2-Piece Cans, 3-Piece Cans), Application (Food and Beverages), Material, Degree of Internal Pressure, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028" in its research database.

The food and beverage metal cans market refers to the manufacturing and sales of metal cans used for packaging food and beverage products. Metal cans have been a popular packaging option for many years due to their durability, cost-effectiveness, and ability to preserve food and beverages for extended periods.

The food and beverage metal cans market includes various types of cans, such as aluminum cans, tin-plated steel cans, and bi-metal cans, among others. These cans can be used for packaging a wide range of products, including fruits, vegetables, meats, soups, carbonated and non-carbonated beverages, and more.

The growth of the food and beverage metal cans market is driven by several factors, including the rising demand for packaged food and beverages, increasing consumer preference for convenience, and the need for extended shelf life for products. Additionally, metal cans are considered to be eco-friendly as they are easily recyclable, which has also contributed to their popularity.

The food and beverage metal cans market is highly competitive, with several key players operating in the industry, including Crown Holdings Inc., Ball Corporation, Ardagh Group, and Silgan Holdings Inc. These companies offer a wide range of metal cans, catering to different food and beverage packaging needs. The market is also seeing a trend towards lightweighting, where manufacturers are producing thinner cans to reduce material usage and costs.

Major players in the global food & beverage metal cans market are Alcoa Inc., Ball Corporation, Ardagh Group, CAN-PACK S.A., CPMC Holdings Limited, Crown Holdings, Inc, Silgan Holdings Inc., Kian Joo Group, Sonoco Products Co. and Toyo Seikan Kaisha Ltd.KG among others. The metal cans are used widely by the food and beverage packaging industry. The growing market for packaged food products across the globe has provided a significant boost to the global in recent years. Growing disposable incomes and changing habits are expected to have a positive impact on the global food & beverage metal cans market.

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The material type segment is divided into 2-piece cans, 3-piece cans. The 2-piece cans segment held the largest market share of around 58.5% in 2020. This was because they could provide simple and reliable packaging, and food products could be stored securely. To attach the can lids (top and bottom) and can body, a technique known as double seaming is used, ensuring the products are safe from external contamination. The application segment includes food and beverages. The beverages segment is anticipated to grow at the highest CAGR of around 10.4% over the forecast period. Shifts in customer preferences towards healthier beverages is boosting the metal cans demand throughout the forecast timeframe. The material segment includes aluminum cans and steel cans. The aluminum cans segment held the largest market share of around 61.2% in 2020. This was because aluminum is used mainly as a raw material for the manufacture of metal cans. Aluminum is a cost-effective raw material utilized in the food & beverage industry that can modify the packaging with3D printing, coloring and embossing. The degree of internal pressure segment includes vacuum cans and pressurized cans. The pressurized cans segment is anticipated to grow at the highest CAGR over the forecast period. This is because they are widely used in the beverage industry. These are lightweight and reduce logistics expenses, which is why the food & beverage metal cans industry is moving ahead. These cans are ideal for packaging non-carbonated and carbonated beverages like wine, beer, fruit juices and energy drinks.

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Factors such as the rising demand for canned food & beverages and ready-to-eat snacks across the globe are related to the growth of the food & beverage metal cans industry. However, high use of plastic for packaging because of lower cost may restrain the market growth.

Scope of the Report

Report Attribute	Details
Market Value (2020)	USD 24.4 Billion
Market Size (2028)	USD 48.52 Billion
CAGR (from 2021 to 2028)	8.4%
North America Revenue Share	34.2%
Historic Period	2018 to 2029
Base Year	2020
Forecast Year	2021 to 2028

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