What is Food & Beverage Metal Cans - Global Market?
The Food & Beverage Metal Cans - Global Market is a vast and dynamic sector that encompasses the production, distribution, and consumption of metal cans used in the food and beverage industry. These cans are a popular choice for packaging due to their durability, recyclability, and ability to preserve the quality of the product inside. The global market for these cans was valued at a significant US$ 49340 million in 2022, indicating a strong demand for this type of packaging. The market is expected to grow further, reaching an estimated value of US$ 60830 million by 2029. This growth is projected to occur at a Compound Annual Growth Rate (CAGR) of 3.0% during the forecast period of 2023-2029.
Three-Piece Cans, Two-piece Cans in the Food & Beverage Metal Cans - Global Market:
The Food & Beverage Metal Cans - Global Market is segmented into two main types of cans: Three-Piece Cans and Two-piece Cans. Three-Piece Cans are traditional cans made from three separate pieces of metal. They are typically used for products that require a longer shelf life, such as canned vegetables, fruits, and meats. On the other hand, Two-piece Cans are modern cans made from just two pieces of metal. They are lighter and more cost-effective than Three-Piece Cans, making them a popular choice for beverages like soft drinks and beers. The global top five players in this market hold a share of over 50%, indicating a high level of market concentration.
Food Industry, Beverage Industry, Convenience Food, Pet Food in the Food & Beverage Metal Cans - Global Market:
The Food & Beverage Metal Cans - Global Market finds its usage in various areas of the Food Industry, Beverage Industry, Convenience Food, and Pet Food. In the Food Industry, these cans are used to package a wide variety of products, including fruits, vegetables, meats, and seafood. They help to preserve the freshness and quality of these products, extending their shelf life and making them more convenient for consumers. In the Beverage Industry, metal cans are used to package soft drinks, beers, and other beverages. They are lightweight, easy to transport, and can keep the beverages cool, making them a popular choice for this industry. In the Convenience Food sector, metal cans are used to package ready-to-eat meals, soups, and other convenience foods. They provide a convenient and hygienic way to package these foods, making them more appealing to busy consumers. Lastly, in the Pet Food sector, metal cans are used to package wet pet food. They help to preserve the quality and taste of the pet food, making it more appealing to pets and their owners.
Food & Beverage Metal Cans - Global Market Outlook:
The global Food and Beverage Metal Cans market has shown a promising outlook. In 2022, the market was valued at a substantial US$ 49340 million. The market is projected to grow at a steady pace, with an anticipated value of US$ 60830 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 3.0% during the forecast period of 2023-2029. North America holds the largest market share of 27%, followed by Europe with a market share of 22%. The global top five players in this market hold a share of over 50%, indicating a high level of market concentration. This data suggests a strong and growing demand for metal cans in the food and beverage industry.
| Report Metric | Details |
| Report Name | Food & Beverage Metal Cans - Market |
| Forecasted market size in 2029 | US$ 60950 million |
| CAGR | 3.0% |
| Forecasted years | 2023 - 2029 |
| Global Food & Beverage Metal Cans market, by region: |
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| Global Food & Beverage Metal Cans market, Segment by Type: |
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| Global Food & Beverage Metal Cans market, by Application |
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| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
