Product ID: SQMIG15G2031
Global Can Packaging Market Size, Share, Growth Analysis, By Metal Type(Aluminium, Steel and Others), By Can Type(Food Cans, Beverage Cans), By Application(Food & Beverages, Healthcare) - Industry Forecast 2024-2031
Report ID:
SQMIG15G2031 |
Region:
Global |
Published Date: February, 2024
Pages:
272
|
Tables:
90 |
Figures:
76
Global Can Packaging Market Insights
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).
Can packaging is packaging made primarily of metallic materials such as aluminum, and steel. Mechanical properties, the ability to withstand extreme temperatures, the convenience of long-distance shipment, and other benefits are just a few of the many advantages of using can packing. The increasing popularity of employing the product for canned food serves to increase utilization because canned food is in high demand, particularly in congested urban areas. Because of its ability to withstand the amount of pressure and durability, the product is also widely used in the aromatherapy industry. Furthermore, the growing popularity of luxury metal-packaged products such as cookies, coffee, tea, and other items leads to an increase in the use of can packaging.
Can packaging is also widely used in the food and beverage industries because it is effective in preserving food content and ensuring a greater shelf life than many other packaging solutions. Heavy-duty metal containers, such as drums and IBCs (Intermediate bulk containers), on the other hand, are used in the transportation of oil, chemicals, and bulk liquids. According to the United Nations, the world is rapidly urbanizing, with the proportion of people living in cities expected to reach 66% by 2031. With increased urbanization and rising affluence, diets are changing, with a growing market for packaged food. Furthermore, the excellent preservative properties and structural integrity of various metal product types, which provide a longer shelf life, have resulted in the widespread use of can packaging.
Can packaging is used in healthcare, food and beverage, personal care, chemical, and other industries. The overall expansion of the packaging industry has indeed been fuelled by an increase in demand from the food and beverage markets. A shortage of time and relatively small family sizes drive consumption of canned food and beverages, propelling the metal packaging market forward. Packaging technology advancements have also aided in the development of metal cans with improved functional and storage qualities, resulting in market expansion in the beverages end-use sector. Both alcoholic and non-alcoholic beverages contain metal. However, factors such as environmental issues related to steel mining and increased material costs are expected to stymie market growth.
US Can Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Can Packaging Market Report Snapshots
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