Summary
Major players in the food cans market are Crown Holding Inc., Ardagh Group, Kian Joo Group, Silgan Holdings Inc., Can-Pack S.A., Envases del Plata, CPMC Holding Limited, Wells Can Company, Toyo Seikan Group Holdings Ltd., Aaron Packaging Inc., Jamestrong Packaging, Kingcan Holdings Limited, HUBER Packaging Group GmbH, Tetra Laval International S.A., and Independent Can Company.
The global food cans market grew from $28.07 billion in 2022 to $30.33 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The food cans market is expected to grow to $40.76 billion in 2027 at a CAGR of 7.7%.
The food can market consists of sales of chromium-coated steel, tin cans, and paper cans.Glass cans and plastic cans.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Food cans refer to types of food filling containers in which any commercially processed, human-grade canned food that has been hermetically sealed, processed, or prepared for consumption, including canned or preserved fruits, vegetables, or other food items, is processed and sealed in airtight containers with tops that can be lifted and replaced.
North America was the largest region in the food cans market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the food cans report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of materials used for food cans are aluminum and steel.Aluminum cans are made from alloys of aluminum, which are generally strong and very lightweight The food cans used usually are either 2-piece cans or 3-piece cans.
The food cans are used in meat, poultry, and seafood, pet food, bakery and confectionery, sauces, jams and pickles, fruits and vegetables, tea and coffee, others.
The increase in the penetration of organized retail is expected to be a major driver of the food cans market over the coming years.Increased disposable incomes, shifting consumer preferences and tastes, shifting demographic profiles, and increased expenditures are all contributing to the organized retail sector’s growth.
Vendors rely on the organized retail sector to distribute and sell their products, and large organized retailers carry vast volumes of canned foods and beverages in their stores. For instance, according to the Retailers Association of India (RAI), the share of the organized retail market is expected to grow to 22-25% by 2021 in India, which is expected to increase the sales of food cans in the country.
Recyclable aluminum cans are shaping the food cans market.The companies operating in the food cans sector are increasingly focusing on recyclable aluminum cans to strengthen their position.
For instance, in September 2022, Suntory Holdings Limited, a Japan-based brewing and distilling company, launched a 100% recycled aluminum can.This product helps reduce greenhouse gas emissions and environmental pollution.
The body of this innovative design has unique requirements to preserve the wine’s quality throughout filling, transit, and storage.
In April 2022, Ball Corporation, a US-based innovative aluminum can manufacture and packaging company, announced Recycle Aerosol LLC, a US-based aluminum aerosol container manufacturing company pioneering in the recycling of waste materials. Through this partnership, both companies increase the amount of aluminum aerosol cans that are recycled and provide an energy- and carbon-efficient closed-loop process whereby discarded aerosol cans are recycled into brand-new cans to make items out of recovered aluminum.
The countries covered in the food cans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The food cans market research report is one of a series of new reports that provides food cans market statistics, including food cans industry global market size, regional shares, competitors with a food cans market share, detailed food cans market segments, market trends and opportunities, and any further data you may need to thrive in the food cans industry. This food cans market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
