Description

The global food and beverage metal cans market size valued at USD 27.7 billion in 2021 and is anticipated to grow at USD 37.1 billion by 2028, recording a CAGR of 6.2% during the forecast period 2022-2028. Over the forecast year , factors such as their environmental benefits, increased demand for canned goods, and high recycling rates are expected to open new doors for the metal cans business. The primary raw materials utilised in the production of these items are aluminium and steel sheets. Aluminum cans are the most environmentally friendly type of food and beverage packaging since they are easily recyclable. The enhanced recyclability of aluminium, as well as safety concerns regarding the usage of plastics, are contributing to the market’s rise. The food and beverage metal cans market is expected to develop due to a spike in usage of metal cans in the food and beverage industry to avoid food damage and decomposition. Aluminum has a high malleability, is corrosion resistant, is less expensive than other materials, and is simple to produce. Because there are so many local and foreign vendors, the market for food and beverage metal cans is highly fragmented. Market players compete on the basis of product differentiation, geographic expansion, product portfolio improvement, and pricing. During the foreseeable period, competition among peers will become more intense. The rise in consumer product manufacturing firms’ worries about environmental conditions is expected to drive the growth of the food and beverage metal cans market. Metal can recycling is increasing, which is enhancing its use in the food and beverage industry. Furthermore, people’s changing lifestyles, rising demand for processed and canned foods, rising trends in ready-to-cook and ready-to-eat foods, and rising popularity of beverages and canned juices are all creating profitable market potential. In July 2017, Crown Food Europe and princes’ foods combined to launch Love Canned Food in the UK.

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