The global metal cans market size estimated at USD 65,369.8 million in 2022 and is expected to expand at a compounded annual growth rate (CAGR) of 6.2% from 2022 to 2030. The increasing use of metal cans for packaging food & beverage products including fruits, vegetables, soups, baby foods, poultry, carbonated soft drinks (CSD), alcoholic beverages, juices, and liquid dairy products driving the market. The benefits associated with metal packaging include reusability, recyclability, durability, as well as appearance.
The increasing consumption of packaged and processed food & beverages is the primary factor supporting the market growth. Continuously developing packaging technologies by the major players across the globe is also one of the major factors driving the metal cans' market. Additionally, developing infrastructure for the recycling of discarded metal packaging products is further bolstering the demand for metal cans across the globe.
The US is a highly developed market for beverages including both alcoholic and non-alcoholic. According to the Brewers Association, the overall beer market in the U.S. was USD 100.2 billion in 2021 which includes USD 26.8 billion (21.0%) of craft beer. The association has also reported that the craft beer market of 2021 has exhibited an increase in sales of 7.9%, which is around 24.5 million barrels. Thus, the U.S. market is experiencing significant growth in the demand for metal cans.
Material Insights
Based on the material, the aluminum segment is leading the market with a maximum revenue share of 74.0% in 2022 and the segment is further expected to maintain its dominance throughout the forecast period from 2023 to 2030. The increasing awareness about the sustainability benefits associated with aluminum packaging coupled with easy recycling at infinite times without losing quality and less energy consumption is the major factor driving the market growth.
Product Insights
Based on product, the market is segmented into 2- Piece Draw Redraw (DRD), 2- Piece Drawn and Ironed (DWI), and 3- Piece metal cans. The laminated flat tinplate undergoes stamping of the circular disc, thus forming a shallow cup by drawing through a circular die, and then the cup is re-drawn on a second or third die to produce a can body of desired shape and size. The cans are manufactured using the aforementioned process termed DRD cans.
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Closure Type Insights
Based on closure type, easy-open-end (EOE) cans are leading the market in 2022 in terms of value. Other closure types include peel-off end (POE), press button, and re-sealable lid cans. The EOE cans are leading the market owing to their easy opening and clean design with high-quality metal that protects the inside food or beverage products. SWAN Industries (Thailand) Company Limited provides a range of easy open ends cans with sizes including 202, 209, 211, 300, 307, and 401 inches. These are made of aluminum and tin-free steel. Moreover, the convenience of easy opening and usage are majorly supporting segment growth.
Application Insights
Based on the application, the beverage segment accounted for the maximum revenue share of 76.8% in 2022. The ability to hold beverages without leakage, spoilage, and contamination is the major factor supporting the market growth. The beverages including alcoholic and non-alcoholic beverages are driving growth during the forecast period from 2023 to 2030.
Regional Insights
North America accounted for the maximum revenue share of 32.4% in 2022 and the region is projected to maintain its dominance throughout the forecast timeframe from 2023 to 2030. The highly developed infrastructure of the packaging industry and its subsequent recycling industry is supporting the growth of metal cans in the regional market.
Some of the prominent players in the global metal cans market include:
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