Food Beverages Metal Cans Market

Market Synopsis:

Global Food Beverages Metal Cans market is valued at USD 29017.77 Million in 2022 and is projected to reach a value of USD 45556.40 Million by 2030 at a Compound Annual Growth Rate (CAGR) of 5.80% over the forecast period.

The growing demand for healthy food & beverages along with high recyclable rates of aluminum are the key factors anticipated to enhance the Food Beverages Metal Cans market growth. The increased trend of on-the-go snacking along with portable nature of metal cans and rising demand for metal cans from emerging economies such as India, Brazil, China, Indonesia, and others are further expected to enhance the market demand during the forecast period. The increased government initiatives for recycling along with rising consumer awareness for the use of environmentally friendly products are some other key factors for the market growth during the forecast period. Furthermore, the increased disposable income and growing consumption of alcoholic beverages is also anticipated to enhance the Food Beverages Metal Cans market growth. While the high usage of plastic for packaging along with growth in the trend of biodegradable packaging is anticipated to hinder the market demand over the upcoming years.

Market Segmentation:

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The Aluminum Segment is Projected to Acquire the Largest Share in the Food Beverages Metal Cans Market:

The aluminum segment is expected to dominate the Food Beverages Metal Cans market on the basis of material during the forecast period. The growth in the aluminum segment is mainly attributed to the cost-effectiveness and rates of recycling aluminum. Moreover, the increasing use of metal packaging for food and beverages offers a bearable and environmental-friendly solution for the packaging in various applications. Aluminum cans are convenient to be placed in ovens and refrigerators. The metal packaging for the food industry is considered to be safe which is the major factor driving the growth of aluminum packaging in the Food Beverages Metal Cans market during the forecast period.

The Beverage Segment is Anticipated to Grow at a Considerable Rate During the Forecast Period:

Based on the application, the beverage segment in the Food Beverages Metal Cans market is predicted to have considerable growth during the forecast period. The beverage segment is expected to hold the largest share in the market owing to the rising consumption of carbonated, non-carbonated, and energy drinks. Moreover, the rise in the consumption of alcoholic beverages is driving the growth of the beverage can market.

North America Dominates the Global Food Beverages Metal Cans Market

North America region dominated the market with 36.5% revenue share. This is ascribed to developed beverages industry and increased consumer awareness towards environmental sustainability. The increased government regulations for recycling and growing demand for sports & energy drinks are anticipated to have a positive impact on the North America Food Beverages Metal Cans market during the forecast period. Furthermore, the growing demand for canned foods & beverages among millennial due to busy lifestyle and growing consumption of alcoholic beverages are further anticipated to enhance regional market.

Besides, Asia Pacific is anticipated to witness fastest growth during the forecast period in the global Food Beverages Metal Cans market. This is ascribed to growing disposable income and rapid urbanization in the region. The growing demand for canned food & beverages due to busy & hectic lifestyle is another key factor anticipated to enhance the market growth in this region as well. The growing demand for alcoholic beverages along with growing manufacturing facilities due to low raw material cost and easy labor availability are further presumed to drive the Asia Pacific Food Beverages Metal Cans market over the upcoming years. In addition, Asia Pacific is emerged as the largest supplier of steel & aluminum sheets owing to high availability of iron ore and bauxite in the region.

Competitive Landscape:

The key players in the market are applying various strategies to generate revenue and to establish a strong customer base in the Food Beverages Metal Cans market. Some of the major key players in the market are Crown Holdings Inc (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), CAN-PACK S.A. (Poland), Kian Joo Group (Malaysia),CPMC Holdings Limited (China), Huber Packaging Group GmbH (Germany), CCL Industries (US), Toyo Seikan Group Holdings Ltd (Japan), Universal Can Corporation (Japan), Independent Can Company (US), Mauser Packaging Solution LLC (Germany), Visy (Australia), Lageen Food Packaging (Israel), Massilly Holding S.A.S (France), P. Wilkinson Containers Ltd. (UK), Unimpack (The Netherlands), Müller und Bauer GmbH (Germany), Allied Cans (Canada)..

Food Beverages Metal Cans Market is Segmented as Follows: