Food Cans Market Size, Share, Growth, and Industry Analysis, By Type (Steel Food Can, Aluminum Food Can and Others), By Application (Fruits and Vegetables, Meat and Seafood, Pet Food, Soups and Other Foods.), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast To 2031

Food Cans Market Report Overview

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The global food cans market size was USD 11330 million in 2021 and is projected to touch USD 16348.21 million by 2031, exhibiting a CAGR of 3.7% during the forecast period.

Food cans are sold by firms (organisations, single proprietorships, and partnerships) that make containers for the delivery or storing of food and beverage goods. The food is prepped and packed in air - tight containers with lift-and-replace tops. Fruit, vegetables, dairy, fish, meat, ready meals, pet food, newborn milk powder, and other food products are stored in these cans. Aluminum and steel are the most common materials used to make cans. Aluminum cans are manufactured of aluminium alloys, which are generally sturdy and lightweight.

COVID-19 Impact: The COVID-19 Underlying Condition Decreased the Manufacturing and Hampered the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the foil market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The current COVID-19 outbreak has resulted in decreased manufacturing at several sites throughout the world and disruptions to the supply chain for the packaging industry. By conducting a remote audit and risk assessment regarding COVID-19, Global Food Safety Initiative (GFSI) certification programmes are offering six-month certificate extensions to ensure smooth supply chain flow. As a result, the business can authorize a new seller location without an on-site inspection to meet demand.

LATEST TRENDS

"The Progressing Trend of Smart Packaging to Augment the Market Growth"

To increase customer contentment, makers of metal food cans are embracing the notion of smart packaging. The market for metal food cans has seen new trends emerge thanks to the development of creative packaging methods. Crown Holdings, the industry leader for metal food cans, has developed Crownsecure. The cans have a code scanning system written on them. With the use of a QUICK RESPONSE (QR) code, each can will be identified as being special. These assist the food company in providing their customers with every tiny piece of data about the brand and the product. Through this special coding system, customers can also verify quality. Consequently, the use of packaging technologies by producers of metal cans presents a growing opportunity for the market.

Food Cans Market Segmentation

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• By Type

Based on type the market is classified into steel food can, aluminum food can and others.

Steel food can is the leading part of the type segment.

• By Application

Based on application the market is classified as fruits and vegetables, meat and seafood, pet food, soups and other foods.

Fruits and vegetables is the leading part of the application segment.

DRIVING FACTORS

"The Elimination of Secondary Package to Stimulate the Market Growth"

Metal food cans are sturdy and can be used for travel and storage on their own, thus using them helps reduce the necessity for secondary packaging solutions. Metal cans can be carried without additional wrapping without leaking or shattering, unlike delicate jars or containers. Additionally, cans provide a better barrier against contamination, oxidation, and light than pouches & bags frequently do. Food containers made of metal are completely waterproof and lightproof.

Once they reach their intended end user, the majority of secondary packaging products are disposed of in landfills or bodies of water. Food containers made of metal are durable enough that additional packing is not necessary. This increases the sustainability element that the cans provide. Indeed the metal food cans can be recycled and used multiple times without losing their strength or quality.

"The Convenience Offered by Canned Food for Hectic Lifestyle to Drive Up the Market Demand "

Convenient or canned food demand has increased due to consumers' hectic lifestyles. Foods in cans are a key part of the diet in underdeveloped nations and take less time to prepare. Because of how easy it is to use, it is well-known on the international market. Food items are placed in sealed metal containers before being canned. It extends the shelf life, which usually is between one and five years. The interest for metal food cans on the global market is being driven by the desire for readily available, nutrient-rich foods. The urban millennial generation favors canned meals since they can be quickly heated for consumption or utilized as semi-processed ingredients, which drastically cuts down on cooking time.Food waste in the supply chain is decreased thanks to the much longer shelf life of canned food compared to other packaging types. Additionally, metal food cans reduce food waste by protecting the food from spoiling.

RESTRAINING FACTORS

"The BPA Material Used Can Prove hazardous and Restrain the Market Growth"

Traditionally, a film of bisphenol-A, or BPA, is applied to the interior of food cans. BPA is known to interfere with the normal hormonal balance since it permeates into food ingredients. It is frequently connected to heart disease, breast and prostate cancer, as well as other serious newborn harm. Sales of coated cans have suffered greatly as a result. The demand for BPA-free cans, however, is likely to increase sales of composite and plastic cans.

Food Cans Market Regional Insights

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"North America To Dominate The Market With Presence of Major Manufacturers and Suppliers"

It is anticipated that the North American region will hold a substantial market share for food cans. One of the main manufacturing industries in the area that is boosting demand for food cans is food processing. Packaging also greatly lengthens a product's shelf life, assisting in the reduction of food waste, a key economic and environmental issue. The demand for food cans in the area is also being driven by product innovation. For instance, during the past five years, Ball Corp. has reduced the weight of an end used with millions of two-piece food cans in North America by 15%, saving more than 210 metric tonnes of steel yearly, which is equal to the steel used in 250 cars.

KEY INDUSTRY PLAYERS

"Prominent Manufacturers to Contribute Towards Expansion of Market"

Aluminum is one of the raw materials on which the major industry competitors are presently focused. These market participants are shifting their attention to cutting-edge technology that can streamline the manufacturing process. To increase their market share, businesses have expanded or made some acquisitions. The major players promote new items as well in an effort to draw in consumers.

LIST OF TOP FOOD CANS COMPANIES

• Crown Holdings (U.S.A)
• Silgan Holdings Inc (U.S.A)
• Trivium (Ardagh Group) (Netherlands)
• Toyo Seikan (Japan)
• Can Pack Group (Poland)
• Hokkan Holdings (Japan)
• CPMC Holdings (China)
• Daiwa Can Company (Japan)
• Kingcan Holdings Limited (China)
• ShengXing Group (China).

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report