The Global Food Can Market is valued at USD 28.54 Billion in the year 2022 and is projected to reach a value of USD 44.48 Billion by the year 2030. The Global Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 5.70% over the forecast period.
Food canning is a food preservation technique that entails sealing and sterilizing food in airtight containers. Among the different canned food goods available on the market are seafood, meat, fruits, vegetables, meals, sweets & desserts, soups & sauces, beans, lentils, and pasta. Canned food items have become one of the most popular preserved food products on the market because the canning procedure protects several vital ingredients. The rising urban population, which seeks fast and convenient eating, is driving the demand for healthy food high in protein, functional fibers, vitamins, and omega-3 fatty acids. Market sales are being driven by consumers ready to spend a little more for products with such attributes, as well as a desire for small, easy-to-cook meat and seafood, as well as organic canned fruits and vegetables. Furthermore, the business has been pushed by a growing global awareness of the harmful consequences of plastic packaging, as well as the demand for a sustainable alternative and higher recycling rates.
Food Can Market Size, 2022 To 2030 (USD Billion)
Because of the purported health benefits of organic products, the use of organic and clean-label products has increased in developed nations. The use of organic and clean-label products has expanded rapidly in several emerging countries, assisting the market's expansion. Consumers are more likely to consume chemical-free natural food products, and their increased label awareness has had a favorable impact on the industry. Organically cultivated veggies, fruits, and even meat products are preferred by consumers since they are healthier than conventionally grown ones. The widespread availability of organic canned goods, as well as their rising consumption, is a critical component in the rise of the canned food business. Tin and aluminum cans, which are nonbiodegradable in nature, are used to make canned food goods. After being used, the cans are thrown away, and they remain in the biosphere for more than a decade, posing major environmental risks. When the cans are exposed to abiotic or biotic causes, hazardous gases and toxic compounds are released.
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Furthermore, governments in numerous countries are recommending people to avoid using tin and aluminum cans, which has hampered market growth. However, in order to prevent environmental pollution, several producers are now producing food in recyclable tin and aluminum cans.
The Food Can Market is segmented on the basis of Material and Application. On the basis of Material, the market is segmented into Aluminum Cans and Steel/Tin Cans. On the basis of Application, the market is segmented into Ready Meals, Powder Products, Fish and Seafood, Fruits and Vegetables, Processed Food, Pet Food and Other Applications.
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Based on Material-
In terms of material, the aluminum can segment is likely to lead the market throughout the forecast period. This is due to aluminum's cost-effectiveness and recycling rates. Metal packaging for food and beverage packaging is becoming more popular as a long-term and environmentally friendly packaging solution for a number of applications. Aluminum cans are convenient to keep in the fridge and oven.
Based on Application-
Food and beverages are grouped into two groups in the Other applications (food and beverage metal cans) market. Beverage cans are predicted to account for the greatest percentage due to the widespread usage of carbonated, non-carbonated, and sports and energy beverages. The market for beverage cans is expanding as alcoholic beverage consumption rises. Furthermore, shifts in consumer attitudes toward healthy drinks will drive the market for metal cans during the forecast period.
North America Region Dominates the Food Can Market with the Largest Share
North America is projected to acquire the largest market share with a share of 39.20%. The surge in consumption of processed foods and beverages will propel the global industry forward. North America is a mature economy with a sizable customer base and an equal number of working professionals. The regional market has been pushed by improvements in supply chain infrastructure and the growing popularity of convenience foods. Multinational investments, particularly from important markets in the region such as the United States, Canada, and Mexico, will provide chances for local companies. Consumption of various ready-to-eat/drink items has increased due to an increase in the working population and a busy lifestyle. The global pandemic outbreak of Covid-19 has caused a significant drop in the market, as the region's canned food manufacturing industries have been shut down. The majority of the Covid-19 afflicted, and deceased patients are from the United States. This is impeding market expansion.
Key players operating in the Global Food Can Market include- Crown Holdings, Wells Can Company, Kian Joo Group, Silgan Holdings Inc., CAN-PACK SA, Aaron Packaging Inc., Toyo Seikan Group Holdings Ltd, Visy Industries, Jamestrong Packaging and others.
Segmentation of the Global Food Can Market:
- Material (Aluminum Cans, Steel/Tin Cans)
- Application (Ready Meals, Powder Products, Fish and Seafood, Fruits and Vegetables, Processed Food, Pet Food)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Crown Holdings
- Wells Can Company
- Kian Joo Group
- Silgan Holdings Inc.
- CAN-PACK SA
- Aaron Packaging Inc.
- Toyo Seikan Group Holdings Ltd
- Visy Industries
- Jamestrong Packaging
||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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