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Food And Beverage Metal Cans Market Recent Development And Future Growth Forecast To 2033
Food And Beverage Metal Cans Market
Food And Beverage Metal Cans Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $46.77 billion In 2028 At A CAGR Of 7.2% :
The food and beverage metal cans market size has grown strongly in recent years. It will grow from $33.02 billion in 2023 to $35.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to development of non-bpa linings, preservation and shelf life, demand for convenience food, product protection.
The food and beverage metal cans market size is expected to see strong growth in the next few years. It will grow to $46.77 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to transportation efficiency, demand for attractive canvas, safety and food security, government initiatives. Major trends in the forecast period include ready-to-drink (rtd) beverages innovations, labeling and design innovations, convenience and easy opening, aluminum beverage bottles.
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Food And Beverage Metal Cans Market Major Segments
The food and beverage metal cans market covered in this report is segmented -
1) By Type: 2-Piece Cans; 3-Piece Cans
2) By Material: Aluminum; Steel
3) By Degree Of Internal Pressure: Pressurized Cans; Vacuum Cans
4) By Fabrication: Plain; Embossed; Printed; Other Fabrications
5) By Application: Food; Beverage
Key Driver - Rising Alcoholic Beverage Consumption Boosts The Food And Beverage Metal Cans Market
Increasing consumption of alcoholic beverages is expected to propel the growth of the food and beverage metal cans market going forward. Alcoholic drinks are those appropriate for human consumption and have a volume alcohol content of 1% or higher. Alcoholic beverages are packaged in metal cans because they are simple to fill, convenient and recyclable. For instance, in 2021, according to the National Institute on Alcohol Abuse and Alcoholism, a US-based alcohol-related researcher, the U.S. ethanol consumption from all alcoholic beverages combined per person in 2021 was 2.51 gallons, up 2.9% from 2.44 gallons in 2020. Further, according to the U.S. Census area, per capita alcohol consumption increased between 2020 and 2021 in the Northeast by 5.4%, Midwest by 1.6%, South by 3.4% and West by 2.3%. Therefore, the increasing consumption of alcoholic beverages will drive the food and beverage metal cans market.
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Prominent Trend - Eviosys Packaging Introduces Eco-Friendly Innovation In Food And Beverage Metal Cans
Major companies operating in the food and beverage metal cans market are focused on innovating advanced solutions to strengthen their position in the market. For instance, in June 2023, Eviosys Packaging Switzerland GmbH, a Switzerland-based smart, sustainable packaging provider, launched Ecopeel, a new metal food can package solution. It is specially made with a peelable foil seal that is directly adhered to the can's body and takes the place of the standard ring-pull opening mechanism. It minimizes 20% of carbon footprint per can and is easy to open with a 45-degree sealing surface.
Food And Beverage Metal Cans Market Players
Major players in the food and beverage metal cans market are Ball Corporation, Crown Holding Inc., Sonoco Products Company, Silgan Holding Inc., Greif Inc., Ardagh Metal Packaging S.A, Mauser Packaging Solutions Holding Company, Crown Cork & Seal Co. Inc., Berlin Packaging LLC, CPMC Holdings Ltd., Can-Pack S.A, Huber Packaging Group GmbH, Nampak Ltd., Massily Holdings S.A.S, BWAY Corporation, Great China Metal Industries Co. Ltd., NCI Packaging Ltd., CCL Container SA de CV, Independent Can Co, Jamestrong Packaging Pty Ltd., DS Containers Inc., Muller and Bauer Gmbh, Allstate Can Corporation, P. Wilkinson Containers Ltd., Allied Cans Ltd.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the food and beverage metal cans market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in food and beverage metal cans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Food And Beverage Metal Cans Market Report Structure
3. Food And Beverage Metal Cans Market Trends And Strategies
4. Food And Beverage Metal Cans Market - Macro Economic Scenario
5. Food And Beverage Metal Cans Market Size And Growth
…..
27. Food And Beverage Metal Cans Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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