Global metal can market to rise to $49.3bn by 2034

The global metal can market value is expected to rise from $40.4 billion in 2024 to $49.3 billion by 2034, according to a new report by Future Market Insights.

This market is expected to be driven by a CAGR of 2.0% over the next decade.

Consumer lifestyles are evolving and customers are increasingly seen opting for easy-to-cook food. 

Individually living consumers and the younger population are especially consuming more canned food as they are budget-constrained and have limited time.

Metal cans are finding significant demand owing to their high recyclability rate. Aluminium cans in particular offer higher extended lives than the other packaging cans. Additionally, these cans offer several benefits like stability, rigidity, and high barrier properties.

Surging consumption of alcoholic and non-alcoholic beverages like carbonated drinks and beers is a prominent driver in the metal can market. In Germany, especially, the production of beer products is rising and exceeding the production observed in other European countries.

Growing customer awareness about the application of non-carcinogenic materials in packaging, along with the rising demand for lightweight packaging, is sprouting significant growth prospects in the metal can industry.

“Key players are expanding their capacities to meet the growing demand for canned food and beverages, especially in emerging economies like India where the food industry is booming and attracting investments by leading brands and conglomerates,” says a Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).

Key Takeaways from the Metal Can Market Report

  • The metal can market gathered a share of US$ 37.1 billion in 2018, which expanded to US$ 39.8 billion in 2023. Throughout this period, the market expanded at a CAGR of 1.4%.
  • By product type, the F-style steel cans accumulated a market share of 28.7% in 2024.
  • Based on material type, the steel segment captured a value share of 45.5% in 2024.
  • The United States metal can industry attained a valuation of 0.7% through 2034.
  • The market in Spain is estimated to register a CAGR of 2.3% from 2024 to 2034.
  • India is emerging as a frontrunner in the Asia Pacific metal can industry, expanding at a CAGR of 4.1% through 2034.
  • China’s metal can industry is projected to record a 3.3% CAGR over the forecast period.

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