Metal Cans Market Size, Share & Trends Analysis Report By Material (Aluminum, Steel), By Product, By Closure Type, By Application, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

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.

Moreover, the alcoholic and carbonated beverages demand is also experiencing significant growth across the globe, which is further contributing to the increase in demand for metal cans. According to the World Counts, in 2022, approximately 175.8 billion aluminum cans were consumed across the globe, which specifically includes beer and soda cans.

Furthermore, the increasing focus on the recycling of metal cans, owing to their sustainability and ability to be recycled infinitely without losing quality, is another major factor supporting the use of metal cans across the application industry. Additionally, the rising concern from littering packaging waste across the globe and subsequent harmful impacts on the environment and its dependent living bodies is further supporting the use and recycling of metal cans across the relevant end-use industries including food and beverages.

COVID-19 Impact

The market has experienced significant growth because of the increased demand for canned beverages in the global market. The pandemic has raised awareness about the environment and its subsequently deteriorating condition. This has diverted the focus of packaging manufacturers towards environmentally friendly packaging. Thus, the demand for metal cans has increased during and after the pandemic. Therefore, the increased focus of craft breweries and soft drink manufacturers toward environment-friendly packaging solutions are bolstering the demand for aluminum cans across the globe.

For instance, despite the increase in beverage prices due to disruptions in the supply chain and increased raw material prices during the pandemic, companies including PepsiCo and Coco-Cola Co have not experienced a slowdown in demand as per their higher management and financial reports. These companies have their major beverage product lines, which include canned packaging. This is an important factor supporting market growth. Additionally, these companies are operating in monopolistic markets, which is further a strong driver for growth in the near future.

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.

According to Metal Packaging Europe and European Aluminum, the recycling rate of aluminum beverage cans in the European Union including the United Kingdom, Switzerland, Norway, and Iceland was 73.0% in 2020.

Furthermore, as per the proposed new draft for a Packaging & Packaging Waste Regulation of the EU, aluminum beverages can meet the highest recyclability performance grade of 95.0%. Additionally, it allows varied customization including closure type, size, quality, and logo printing as per the requirement of end users also one of the major factors supporting the growth. These are some of the major factors supporting the growth and demand for aluminum cans in the global market. Along with these, the segment is expected to exhibit the fastest growth with a revenue CAGR of 6.4% from 2022 to 2030.

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.

Furthermore, DWI cans are made from a metal coil sheet, which is drawn into a cup shape and then wall-ironed into a can shape with several stages of wall ironing. Lastly, 3-piece cans consist of a can body with a top and bottom end. The body of the metal can be manufactured from a rectangular metal sheet, which is turned into a cylinder by welding the two edges.

The 2- piece drawn and ironed (DWI) cans are leading the market with a maximum revenue share of 69.8% in 2022 and the segment is also likely to continue with its dominance throughout the forecast period. Additionally, the growth of the segment is anticipated to be the fastest with a CAGR of 6.4% from 2022 to 2030. Companies including Kian Joo Can Factory Berhad provide 2-Piece DWI Steel Cans for the protective packaging of processed food, evaporated milk, and sweetened condensed milk. Thus, the use of these cans in a variety of applications is supporting the dominance and growth.

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.

Peel off the end (POE) also known as quick peel, is the segment expected to experience potential growth of 5.5% during the forecast period from 2023 to 2030. The peel-off end offers hermetically sealing in cans thus, preventing their content from the external environment and making cans leak-proof. The respective packaging solution has wide application across dry milk powders, canned fruits and vegetables, and others canned food products. These are the factors supporting the segment growth in the market.

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.

The increasing demand for carbonated beverages across the globe, especially from the young population is further supporting the market growth. The increasing focus of the young population on packaged beverages is also one of the major factors boosting the growth.

Moreover, the beverage segment is further bifurcated into carbonated soft drinks (CSD), alcoholic beverages, and fruit & vegetable juices among others. The alcoholic beverages segment accounted for a share of 40.8% of the global beverage metal cans market in terms of revenue in 2022. The high share of this segment in the global region is attributed to the increasing demand for alcoholic beverages from millennials, surging disposable income, and rising consumer demand for premium/high-quality products.

The food application segment of metal cans is projected to exhibit growth during the forecast period from 2023 to 2030. The segment further sub-segmented across vegetables, fruits, and soup & miscellaneous food among others. The increasing demand for frozen food including meat, vegetables, and fruits, which are packaged in metal cans, is further supporting the market segment growth.

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.

Additionally, the presence of manufacturers such as Crown Holdings Inc., Bail Corporation, and BWAY Corporation among others is supporting the growth of the market. The continuous strategic efforts by these packaging manufacturers for the development of sustainable packaging solutions along with their increased profitability are further supporting the market growth.

Asia Pacific region is anticipated to exhibit the fastest growth with a revenue CAGR of 6.6% during the forecast period from 2023 to 2030. The major economies of the region including China and Japan are supporting the market growth. The easy availability and production of raw materials in China is the major driving factor of the regional market growth throughout the forecast timeframe from 2023 to 2030.

Additionally, the increasing revenues of regional players such as Swan Industries (Thailand) Limited, Kian Joo Can Factory Berhad, Dongwon Group, and Lohakij Rung Charoen Sub Co., Ltd. Among others is further driving the regional market growth.

Key Companies & Market Share Insights

The metal cans market is highly fragmented with the presence of various small-sized and medium-sized players. Metal Cans manufacturers are also making strategic efforts to expand their production capacities and geographical footprints along with the increase in the profit share in the global market. Metals cans market players are also focusing on sustainable packaging solutions and their reuse or recycling owing to the increasing rules and regulations by the respective government for suppressing the use of plastic packaging.

Additionally, metal cans application industry players such as PepsiCo and Coca-Cola Inc. are also expanding their product reach to the end users via online marketing channels, due to their ability to reach an effective target audience, further supporting the growth. Furthermore, the continuously rising efforts by the respective governments of the countries to protect the environment from increasing packaging waste are likely to exhibit significant changes in the manufacturing practices of the players in the market during the forecast period from 2023 to 2030. Some of the prominent players in the global metal cans market include:

• Amcor Ltd

• Ardagh Packaging Group Plc.

• Bail Corporation

• BWAY Corporation

• CPMC Holdings Ltd.

• Crown Holdings Inc.

• Kian Joo Group

• Rexam Plc.

• Siligan Containers Corporation

• Sonoco Phoenix Inc.

Metal Cans Market Report Scope

Global Metal Cans Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global metal cans market based on material, product, closure type, application, and region:

• Material Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

  • Aluminum

  • Steel

• Product Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

  • 2- Piece Draw Redraw (DRD)

  • 2- Piece Drawn and Ironed

  • 3- Piece

• Closure Type Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

  • Easy-Open End (EOE)

  • Peel-off End (POE)

  • Others

• Application Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

  • Food

    • Vegetables

    • Fruits

    • Soup & Miscellaneous Food

    • Other Food

  • Beverages

    • Carbonated Soft Drinks

    • Alcoholic Beverages

    • Fruit & Vegetable Juices

    • Other Beverages

  • Others

• Regional Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • South Korea

    • Indonesia

    • Thailand

    • Vietnam

    • Philippines

    • Malaysia

    • Singapore

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia