Metal Can Market Report | Size, Growth, Demand, Scope, Opportunities and Forecast 2024 to 2034

The global metal can market value is expected to rise from USD 40.4 billion in 2024 to USD 49.3 billion by 2034. This market is expected to be driven by a CAGR of 2.0% over the next decade.

Consumer lifestyles are evolving and customers are increasingly seen opting for easy-to-cook food. Individually living consumers and the younger population are especially consuming more canned food as they are budget-constrained and have limited time.

Metal cans are finding significant demand owing to their high recyclability rate. Aluminum cans in particular offer higher extended lives than the other packaging cans. Additionally, these cans offer several benefits like stability, rigidity, and high barrier properties.

Surging consumption of alcoholic and non-alcoholic beverages like carbonated drinks and beers is a prominent driver in the metal can market. In Germany, especially, the production of beer products is rising and exceeding the production observed in other European countries.

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Growing customer awareness about the application of non-carcinogenic materials in packaging, along with the rising demand for lightweight packaging, is sprouting significant growth prospects in the metal can industry.

Key Takeaways from the Metal Can Market Report

The metal can market gathered a share of USD 37.1 billion in 2018, which expanded to US$ 39.8 billion in 2023. Throughout this period, the market expanded at a CAGR of 1.4%.
By product type, the F-style steel cans accumulated a market share of 28.7% in 2024.
Based on material type, the steel segment captured a value share of 45.5% in 2024.
The United States metal can industry attained a valuation of 0.7% through 2034.
The market in Spain is estimated to register a CAGR of 2.3% from 2024 to 2034.
India is emerging as a frontrunner in the Asia Pacific metal can industry, expanding at a CAGR of 4.1% through 2034.
China’s metal can industry is projected to record a 3.3% CAGR over the forecast period.

Competitive Scenario in the Metal Can Market

The metal can industry is highly consolidated with the presence of few established players. Mergers and acquisitions remain a go-to expansion strategy for established as well as new industry players. Leading players in the market are making substantial investments to set up research institutes in various regions to enhance their offerings.

Certain business strategies adopted by metal can market players are:

Sales contracts
Acquisition of technical expertise
Strategic alliances
Collaborations
Joint ventures
Patents and events
Product approvals
Digital marketing
Capacity expansion
Technological advancements
Partnership agreements

Developments in the Metal Can Market

In March 2021, Amcor announced its partnership with Alliance. This initiative aims to end plastic waste at the Executive Committee level. This partnership additionally aligns with Amcor’s 2025 Sustainability Pledge to create recyclable packaging.
Ardagh Group revealed its new facility in Huron in January 2020 that manufactures metal cans. The company decided to produce beverage cans in varying sizes for multiple categories like soft drinks, alcoholic beverages, teas, and sparkling water, in this facility.

Manufacturers and Suppliers in the Metal Can Market