skyrocketing Metal Cans Industry predicted to hit an estimate of USD 54.0 billion by 2034
The global metal cans market is witnessing a surge in growth, driven by urbanization, rising disposable incomes, and expanding retail distribution, particularly in the Asia Pacific region.
In 2024, the food and beverages segment accounted for a significant 84.2% of the market, with metal cans being popular for storing drinks like soda, beer, energy drinks, and certain pharmaceuticals. The market's growth is projected to continue at a Compound Annual Growth Rate (CAGR) of 3.5% from 2025 to 2034, reaching a staggering USD 54.0 billion by 2034.
Europe's metal cans market benefits from strict sustainability policies and rising eco-conscious consumer demand. In fact, annually, 31 million aluminum cans are recycled through grants. Companies like Ball Corporation, Ardagh Group, and Crown Holdings are investing in Research and Development (R&D) to improve sustainability and efficiency in the aluminum beverage can industry in the coming years.
North America holds a substantial 42.8% share in the metal cans market, with a market value of USD 16.3 billion. In 2024, this share increased, and the region's metal cans market is expected to maintain its dominance.
The 2-piece drawn and ironed design holds a 58.1% share of the product segment in 2024, while easy-open end closures account for 67.6% of the closure type segment.
The market expansion is not limited to food and beverages. Metal cans are also used for packaging cosmetics like deodorants, hairsprays, and shaving creams. Moreover, they are ideal for storing paints, varnishes, and chemicals due to their strength and resistance to corrosion.
Innovations in the sector are not slowing down. In 2024, Tata Steel UK invested £7 million in AI-driven packaging research. Notably, niche brand Liquid Water raised $9 million to expand its aluminum-canned water sales.
Sonoco Products Company is expanding its sustainable metal packaging portfolio by acquiring Ball Corporation's metal aerosol packaging business. Latin America and the Middle East & Africa are gradually increasing adoption of metal cans, as consumption habits evolve.
The metal cans market continues to grow, driven by numerous factors, including urbanization, rising incomes, and a shift towards sustainability. With continuous investments in R&D and a focus on improving efficiency and sustainability, the future of the metal cans market looks bright.
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