Tubes and Cans Market Size, Share, Growth, Forecast and Outlook (2024-2031)

Global Tubes and Cans Market Set to Surge, Projected to Reach US$ 117.6 Billion by 2031

The global tubes and cans market witnessed a significant surge in 2023, reaching a value of US$ 75.5 billion. According to latest forecasts, the market is expected to grow at a remarkable CAGR of 5.7% during the period from 2024 to 2031, ultimately reaching a valuation of US$ 117.6 billion.

The escalating urbanization trend stands as a key driver propelling the growth of metal can and container production capacities worldwide. Additionally, the penetration of organized retail is prompting market players to expand their capacities to meet the growing demand. Government initiatives aimed at reducing raw material costs and enhancing local availability are further bolstering market dynamics.

For instance, in May 2022, the Government of India took significant steps by eliminating customs duties on certain raw materials crucial for the steel industry, including ferronickel and coking coal. This strategic move not only lowered costs for the domestic sector but also contributed to price stabilization. Moreover, with duties on iron ore exports raised to 50% and on select steel intermediaries to 15%, both private and government entities are actively fostering the development of tubes and cans.

North America emerged as a dominant player in the tubes and cans market in 2023, accounting for over a quarter of the global market share. Companies in the region are aggressively expanding their footprint to capture a larger market share. Furthermore, medium-sized enterprises in North America's tube packaging market are keen on meeting consumer demands, with lamination tubing and extruded plastic tubing gaining preference owing to their ease of manufacture and printing capabilities.

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Market Dynamics: Rising Demand for Metal Cans and Sustainable Plastics

The food and beverage industry remains a primary driver of demand for metal cans and containers. Steel is predominantly used for manufacturing hard cans, while aluminum is favored for producing thin and lightweight cans. Tin cans, composed mainly of steel coated with a thin layer of tin, are extensively used to prevent corrosion from food items. Notably, India's robust export activities in agricultural and processed food items have fueled demand for metal food cans.

In parallel, the growing demand for sustainable plastics is reshaping market dynamics. Plastic tubes find applications across various industries such as cosmetics, personal care, food, and pharmaceuticals, owing to their cost-effectiveness and energy-efficient transportation properties. The emphasis on sustainability has spurred significant breakthroughs in plastic recycling and material technologies, paving the way for environmentally friendly packaging alternatives.

Environmental and Regulatory Concerns: Shaping Market Trajectory

Heightened environmental awareness and regulatory efforts aimed at reducing plastic waste pose challenges to the tubes and cans sector. Packaging materials, particularly plastic tubes and cans, face scrutiny due to their environmental impact, driving calls for alternative packaging solutions and improved recycling efforts. Compliance with regulatory standards pertaining to food safety, product labeling, and material sourcing necessitates substantial investments in testing, certification, and documentation to ensure adherence.

Segment Analysis: Dominance of Food and Beverage Segment

The global tubes and cans market is segmented based on type, material, end-user, and region. The food and beverage segment is anticipated to dominate the market during the forecast period, accounting for over 30% of the market share. Notably, the popularity of canned alcoholic beverages is on the rise, driven by consumer preferences for uniform quantities and ease of consumption tracking.

Geographical Penetration: Asia-Pacific Leads the Way

Asia-Pacific emerges as the dominant region in the global tubes and cans market, covering more than 35% of the market share. Manufacturers in the region are increasingly focusing on eco-friendly tubes and cans, alongside exploring recyclable metals. The rapid expansion of convenience businesses such as coffee shops, snack outlets, and supermarkets is expected to propel market growth in the region.

Competitive Landscape: Key Players

Major global players in the tubes and cans market include Amcor Plc, Albea Group, Essel-Propack, TUBEX GmbH, CCL Container, DS Containers, Shining Aluminum Packaging, Ardagh Group, Bharat Containers, and Linhardt. These industry leaders continue to innovate and expand their offerings to maintain a competitive edge in the evolving market landscape.

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