Food cans market expected to reach $25.91bn in 2021
The global food cans market is expected to grow from $24.41 billion in 2020 to $25.91 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%, according to a new report.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $32.69 billion in 2025 at a CAGR of 6%, according to reportlinker.com.
The food cans market consists of sales of food cans by entities (organisations, sole traders, and partnerships) that manufacture containers for the distribution or storage of food and beverage items.
The food is processed and sealed in airtight containers with tops that can be lifted and replaced.
These cans are used to store a variety of fruit, vegetables, dairy, fish, meat, ready meals, pet food, infant milk powder, and other food products.
The main types of materials used for food cans are aluminium and steel. Aluminum cans are made from alloys of aluminium, which are generally strong and very lightweight The food cans used usually are either 2-piece cans or 3-piece cans.
The food cans are used in meat, poultry, and seafood, pet food, bakery and confectionery, sauces, jams and pickles, fruits and vegetables, tea and coffee, others.
North America was the largest region in the food cans market in 2020.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Recyclable aluminium cans are shaping the food cans market.The companies operating in the food cans sector are increasingly focusing on recyclable aluminium cans to strengthen their position.