IMARC Group, a leading market research company, has recently releases report titled “Metal Cans Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global metal cans market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the metal cans market?
The global metal cans market size reached US$ 64.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 75.7 Billion by 2028, exhibiting a growth rate (CAGR) of 2.5% during 2023-2028.
What are metal cans?
Metal cans are containers made primarily of metal, typically aluminum or steel, used for packaging and storing a wide range of products. They can be manufactured by shaping the metal sheets into the desired can shape, followed by sealing the top and bottom to create a fully enclosed container. They are known for their durability, strength, and ability to preserve the contents for an extended period. Metal cans offer several advantages, including their recyclability, which makes them an eco-friendly packaging choice. They can be easily collected, melted down, and reused to produce new containers, which reduces waste and conserves natural resources.
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What are the growth prospects and trends in the metal cans industry?
Metal cans are predominantly used in the food and beverage (F&B) sector for packaging items like soups, sodas, vegetables, and fruits to offer a tight seal that keeps the contents fresh and protected from contaminants. Along with this, the increasing demand for ready to eat (RTE) food products and rising consumption of carbonated beverages like beer on account of rapid urbanization, hectic lifestyles, and the expanding purchasing power of individuals represent one of the primary factors bolstering the market growth around the world. Moreover, the growing adoption of metal cans in the pharmaceutical industry to store specific medical products, including some ointments and medicines, and help maintain the required conditions to keep the products safe and effective is influencing the market positively.
In addition, metal cans are utilized in the packaging of automotive products like oils, lubricants, and paints on account of their durability, which makes them suitable for storing these often harsh substances. In line with this, the increasing production of vehicles and the rising number of manufacturing plants worldwide is propelling the growth of the market. Furthermore, metal cans are employed in the manufacturing of personal care and cosmetic products, such as deodorants, creams, hair wax, perfumes, and moisturizers, to provide an impenetrable barrier to light, moisture, and air, which ensures the integrity of the product.
The growing sales of personal care and cosmetic products on account of the rising physical consciousness among individuals are also creating a positive outlook for the market. In addition, the increasing adoption of metal cans for promoting sustainability, as they are recyclable, is contributing to the market growth. Besides this, the rising utilization of metal cans in the chemical industry to store various chemicals and solvents, as their robust nature ensures that they can safely contain materials that can be corrosive or hazardous, is anticipated to fuel the market toward growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Material Type:
- Aluminium
- Steel
- Tin
Breakup by Fabrication:
- Two Piece Metal Can
- Three Piece Metal Can
Breakup by Can Type:
- Food
- Vegetable
- Fruits
- Pet Food
- Others
- Beverages
- Alcoholic Beverage
- Non-Alcoholic Beverage
- Aerosols
- Paints and Varnishes
- Cosmetic and Personal Care
- Pharmaceuticals
- Others
Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Amcor plc, Ardagh Group S.A., Ball Corporation, CPMC Holdings Limited, Crown Holdings Inc., Hindustan Tin Works Ltd., Independent Can Company, Kian Joo Can Factory Berhad (Can-One Berhad), Mauser Packaging Solutions, Silgan Containers LLC (Silgan Holdings Inc.), Sonoco Products Company and Toyo Seikan Group Holdings Ltd.
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