Global market for metal cans on the rise
The global market for metal cans, barrels, drums and pails is projected to exceed $80 billion by 2022, driven by rising consumption of all types of beverages and growing popularity of convenient, cost-friendly, eco-friendly and safe packaging options.
Metal cans represent the preferred packaging option supported by their attributes of lightweight, environment-friendly due to its 100% recyclability nature, strong and economical.
Few of the many reasons responsible for its steady uptake by consumers as well as brands include taste retention, quality retention through product protection, branding appeal, performance benefits, and sustainability. Beverage cans continue to dominate as the largest end-use application for metal cans supported by the fizz and freshness they retain in soft drinks; the flavor protection, portability, and shatterproof benefits they impart to beer; the ruggedness and durability offered by them for energy drinks; and the significant logistics and transportation advantages they provide for all types of beverages.
Healthy growth is projected for the market in the coming years driven by the growing preference of convenient, affordable, safe and healthy foods and beverages. The increasing preference for steel and aluminum as a sustainable bulk packaging option supported by their ‘reduce, recycle, and re-use’ attributes is expected to benefit market prospects in the long term.
Given their technological strength, mature markets such as the US, Europe, and Japan continue to rank among the leading nations in product innovation, globally. In particular, the demand for healthy and nutritious food and beverages in the US is expected to witness substantial growth in the coming years translating into steady demand for metal cans. Driven by the younger generation who are the primary consumer group for canned foods, the European metal can market is poised to withstand economic uncertainties and post healthy growth.
Asia-Pacific represents the fastest growing market with a growth of 5.2% over the analysis period. Expanding retail sector; exponential increase in urbanisation; growing awareness about the benefits of nutrient-retaining packaging, increasing demand for energy drinks, sports drinks and functional drinks; and rising consumption of beer, cider and soft drinks represent major growth drivers in the region.