How Has The Food Cans Market Size Evolved In Recent Years?
The food cans market has seen considerable growth due to a variety of factors.
• The market size of food cans has been expanding consistently over the past few years. The projection is that it will increase from $64.5 billion in 2024 to $66.09 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 2.5%.
The surge in the historic period is a consequence of the heightened demand for organic foods, initiatives promoting food security, favorable interest rates, and a rise in pet ownership among Gen Z and Gen Y adults.
How Will The Food Cans Market Size Evolve In The Foreseeable Future?
The food cans market is expected to maintain its strong growth trajectory in upcoming years.
• The market of food cans is projected to experience consistent expansion in the approaching years, ballooning to a size of $76.86 billion by 2029, with a compound annual growth rate (CAGR) of 3.8%.
Factors contributing to this positive trend during the forecasted period include the swelling millennial population, ongoing advancements in technology, amplified awareness regarding the health benefits of canned food, and the mounting influence of organized retail. Prominent trends expected to shape this market in the future are the adoption of environmentally friendly aluminum cans, a move towards BPA-free cans because of the health concerns associated with BPA products, investment in high-pressure pasteurization machinery, and funding in innovative goods to offer superior and improved products.
What Key Factors and Trends are Driving the Growth of the Food Cans Market?
The food cans market is experiencing significant growth due to the escalating influence of structured retail. Factors such as increased disposable income, evolving consumer tastes and preferences, demographic shifts, and heightened investment are bolstering the structured retail market's expansion. The burgeoning internet penetration and the commencement of operations by more global retailers in various nations and regions are further fueling the structured retail sector, amplifying the accessibility of assorted canned food products to consumers globally. For instance, digitalcommerce360, a U.S.-based retail and B2B ecommerce research and media firm, stated that in 2023, eCommerce accounted for 22.0% of total retail sales in the U.S., a slight leap from the 21.2% penetration in 2022. Total retail sales boosted to approximately $5.088 trillion in 2023, up from around $4.904 trillion in 2022 (a growth of 3.8%). This mounting impact of organized retail is propelling the food cans market.
What Are The Core Segments Of The Globa Food Cans Market?
The food cans market covered in this report is segmented –
1) By Material: Aluminum Cans, Steel Or Tin Cans
2) By Product: 2-Piece Cans, 3-Piece Cans
3) By End Use: Meat, Poultry And Seafood, Pet Food, Bakery And Confectionery, Sauces, Jams And Pickles, Fruits And Vegetables, Tea And Coffee, Other End-Uses
Subsegments:
1) By Aluminum Cans: Standard Aluminum Food Cans, Easy-Open Aluminum Cans
2) By Steel Or Tin Cans: Tin-Plated Steel Cans, Enameled Steel Cans
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Which Emerging Trends Are Reshaping The Food Cans Market?
The food cans industry is being revolutionized by the use of recyclable aluminum cans. To bolster their position, companies in this sector are progressively shifting their focus towards these reusable aluminum cans. For example, Suntory Holdings Limited, a brewing and distilling company based in Japan, introduced a 100% recycled aluminum can in September 2022. This initiative aids in diminishing greenhouse gas emissions and environmental contamination. The distinctive design of this can addresses unique needs to maintain the quality of the wine from the filling process, through transit, and during storage.
Who Are the Key Players in the Food Cans Market?
Major companies operating in the food cans market include:
• Crown Holdings. Inc
• Ball Corporation
• Ardagh Group S.A
• Can-Pack S.A
• Silgan Holdings Inc.
• Toyo Seikan Group Holdings Ltd
• CPMC Holdings Limited
• Visy Industries
• Jn Pack Ltd
• Metal Container Corporation
• Mauser Packaging Solutions
• Greif South Africa (Pty) Ltd
• Metcan Manufacturing Cc
• Nampak Products Ltd
• Mondi Plc
• Sonoco Products Company
• Allstate Can Corporation
• Kian Joo Can Factory Berhad
• Independent Can Company
• Colep Portugal S.A.
• Jamestrong Packaging
• Avon Crowncaps & Containers (Nig.) Plc
• TinPak (Pvt) Ltd
• Ton Yi Industrial.
What are the Regional Insights into the Food Cans Market?
North America was the largest region in the food cans market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food cans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
