The global cans market is projected to experience steady growth over the next decade, driven by rising demand for sustainable packaging solutions. In 2023, the market size is estimated at USD 36.99 billion, with an expected CAGR of 3.9% from 2023 to 2033, reaching USD 54.23 billion by the end of the forecast period.
Key Market Drivers:
- Increased Consumption of Processed Foods & Beverages: With the global rise in processed food and drink consumption, there’s an escalating demand for cans as a reliable packaging solution.
- Product Shelf Life Improvement: Cans are known to significantly extend the shelf life of products, making them a preferred choice for manufacturers.
- Rising Disposable Income: Higher disposable income levels across various regions are leading to increased consumer spending on packaged foods and beverages, further boosting the cans market.
Aluminum Cans Lead the Market:
- Market Share: In 2023, aluminum cans dominated the market, accounting for nearly 75% of the total market share.
- Attributes: Their lightweight nature and ability to withstand internal pressure make aluminum cans particularly suitable for beverages. They also provide an excellent barrier against light, protecting the quality of light-sensitive drinks.
- Beverage Segment Growth: The beverage sector is expected to grow at a CAGR of 4.0% during the forecast period. Beverage cans are favored for their durability and convenience, especially during transportation.
Sustainability: A Major Trend in the Cans Market
- Shift from Single-Use Plastics: Single-use plastic bottles, which are difficult to recycle, are being phased out due to environmental concerns. Aluminum cans, which can be recycled indefinitely without losing quality, are emerging as a sustainable alternative.
- Recycling Efficiency: According to the Maine Department of Environmental Protection, recycled aluminum cans can return to store shelves as new cans within 60 days, highlighting their efficiency as a recyclable material.
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Global Cans Market Outlook by Category
By Material Type:
- Aluminum
- Steel/Tin Plated
- Plastic
- Paper Composites
By Capacity:
- Up to 200 ml
- 201–750 ml
- More than 750 ml
By End Use:
- Food
- Beverages
- Alcoholic Beverages
- Non-alcoholic Beverages
- Healthcare
- Cosmetics & Personal care
- Homecare Products
- Paints & Lubricants
- Others Consumer Goods (Gifts, Toys, Merchandizing, etc.)
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania