Metal food cans market to be worth $34.5bn by 2032
Future Market Insights’ research reveals that in the anticipated timeframe, the worldwide metal food cans market is poised to achieve a market worth of $22.9 billion in 2022, with a projected compound annual growth rate (CAGR) of 4.2%, ultimately reaching $34.5 billion by 2032.
A positive growth trajectory is forecasted for the metal food cans market during the projected period, with FMI’s latest estimate suggesting an uptick in sales from 2022 to 2032. The market is poised to generate an absolute incremental growth opportunity of US$ 12.6 billion, according to the latest forecast by FMI.
In Germany, it is anticipated that by the end of 2022, the country will hold approximately 22% of the European metal food cans market. The surge in imported canned foods is a significant driver behind the growing demand for metal food cans in Germany.
According to the Centre for the Promotion of Imports from Developing Countries (CBI) under the Ministry of Foreign Affairs, European trade contributes to about 75% of the overall canned fruits and vegetable imports.
In 2019, Germany imported canned fruits and vegetables worth around US$ 2.4 million. The rising consumption of canned food in Germany is expected to bolster the sales of metal food cans in the country.
China presents a substantial growth opportunity for the metal food cans market, with a projected growth 1.6 times the current market value from 2022 to 2032. The availability of raw materials, particularly aluminium and steel, is gaining momentum among metal food can manufacturers in China.
According to data from the International Aluminium Institute (IAI), China accounted for approximately 58% of the total global aluminium production in 2021. This surge in production is poised to create a significant growth avenue for the metal food cans market in China.
Benefits of Metal Food Cans
Metal Food Cans Market, Positive Sentiment: Enriching the Culinary Experience
- Long Shelf Life: Metal food cans excel at preserving the freshness of their contents. The airtight seal prevents exposure to external elements, extending the shelf life of food items.
- Protection from Contaminants: These cans act as robust barriers, safeguarding food from contaminants, bacteria, and moisture, ensuring that consumers enjoy safe and healthy products.
- Heat Resistance: Metal cans can withstand high temperatures, making them suitable for both hot and cold foods. This versatility adds to their appeal, accommodating a wide range of culinary creations.
- Sustainability: The Metal Food Cans Market aligns with eco-consciousness. Metal cans are highly recyclable, contributing to the reduction of waste and promoting a circular economy.
- Convenience: Metal cans are easy to store, stack, and transport. Their lightweight design and durable structure simplify distribution, benefiting both manufacturers and consumers.