Can Packaging Market Size, Share, Growth Analysis, By Metal Type(Aluminium, Steel and Others), By Can Type(Food Cans, Beverage Cans, and Aerosols), By Application(Food & Beverages, Healthcare, Personal care, Chemical and others), By Region - Industry Forecast 2024-2031

Can Packaging Market size was valued at USD 47.06 billion in 2019 and is poised to grow from USD 49.08 billion in 2023 to USD 68.74 billion by 2031, growing at a CAGR of 4.3% in the forecast period (2024-2031).

Throughout the Can Packaging Market Forecast period, many companies have been working to compensate for the demand. The growth of the pandemic and the increase in demand has had a significant impact on the growth of products in manufacturing companies. Later on, to compensate for the need, manufacturing companies are working hard to produce products in greater quantities while also producing products of high quality. Because of this demand, manufacturers are employing a variety of ideas and strategies to launch new products that incorporate cutting-edge technology. For instance, Jiaduobao, a leading Chinese producer of canned herbal tea, has introduced its beverage in sleek cans. This is primarily done to attract customers who are more concerned with their health and prefer to consume healthy foods and beverages. 'Ardagh Group', 'Ball Corporation', 'Crown Holdings', 'Silgan Holdings', 'CPMC Holdings', 'Toyo Seikan Group Holdings', 'HUBER Packaging Group', 'Can-Pack SA', 'Kian Joo Can Factory Berhad', 'Kian Joo Group', 'Tetra Laval International SA', 'Rexam PLC', 'BWAY Corporation', 'Greif, Inc.', 'Sonoco Products Company', 'Mauser Packaging Solutions', 'Berlin Packaging', 'Great China Metal Industry Co., Ltd.', 'Nampak Ltd.', 'Orora Packaging Australia Pty Ltd'

Increasing demand for canned food & beverages from consumers

Metal cans are also gaining popularity in the packaged water market. These cans provide advantages in terms of sustainability, and substantial producers can be expected to continue investing in technological advancements for beverage can manufacturing, lightweight techniques, and can configurability improvement. For instance, PepsiCo intended to sell Aquafina's purified still water in aluminum cans in US food service outlets. Furthermore, increasing environmental policies and a greater emphasis on recycling are increasing the demand for aluminum material. The focus of companies on improving their eco-friendly brand image is driving the growth of cans in the market.

In the Can Packaging Market, North America led the market, accounting for more than XX% of revenue in 2021. With its dependence on canned goods and beverages, the United States is a major contributor to the growth of the North American can packaging industry. With an increasing concentration of consumer product manufacturers and packaged goods makers, the United States dominates the can packaging sector. In the coming years, the canned packaging market is expected to represent a significant portion of the packaging market. Because the metal packaging markets in North America and Europe are relatively mature, the new entrant will face stiff competition from the market's leading players. On the other hand, markets in Latin America, South Asia, and East Asia are expected to have less competition and to provide significant revenue-generating opportunities for key players. Metal packaging demand is expected to rise as the demand for metal cans. The rise in popularity and revenue of the food and beverage industry in South and East Asia is expected to be a driving factor in the high demand for metal packaging.