The global cans market size is estimated to reach US$ 36.99 billion by 2023. Can manufacturers can expect a CAGR of 3.9% from 2023 to 2033. The cans market size is projected to reach US$ 54.23 billion by 2033.
Global Cans Market at a Glance:
Increased consumption of processed foods & drinks, improvement in product shelf life, and rising disposable income are some key factors projected to compel the demand for cans over the forecast period.
FMI analysis indicates that aluminum cans are the most reliable products, and the segment held almost 3/4th of the share in the global cans industry in 2023. Aluminum cans are mainly used as beverage cans, attributable to their lightweight nature and ability to withstand internal pressure generated by carbon dioxide.
By end use, the beverages segment is expected to remain at the forefront and exhibit a growth of 4.0% during the forecast period. Beverage cans are ideal for large gatherings since they are less likely to spill or tear during transportation. These cans are fully light-proof, which helps in protecting the quality of light-sensitive beverages.
Developing countries like China and India cumulatively accounted for 36% of the market share in 2023 and are expected to showcase a CAGR of 4.9% during the forecast period. Growth is attributed to increasing awareness about sustainability and the rise in new product launches by key companies in these countries.
Cutting-edge Strategies to Skyrocket the Cans Industry
Content Marketing and Educational Resources
The cans manufacturers should produce valuable and educational information regarding the advantages of using cans, their environmental benefits, recycling procedures, and diverse applications. They may engage new customers by establishing their brand as an industry authority.
Social Media Campaigns
Cans manufacturers must use social media channels to promote their goods, disseminate user-generated material, and launch interesting campaigns. Cans’ aesthetic and useful qualities can be best displayed on visual websites like Instagram and Pinterest. They can target particular demographics or businesses by running tailored advertising on websites like Facebook and LinkedIn.
Innovative Packaging Design
Cans manufacturers invest in packaging designs that are distinctive on store shelves and environmentally beneficial. To attract eco-aware customers, use contemporary and sustainable design features. Using unique packaging can leave a lasting impression and promote word-of-mouth advertising.
Collaborations and Partnerships
To increase the reach of manufacturers, team up with other companies or influencers. Cans manufacturers can reach their customer base and identify with shared values by partnering with eco-friendly or similar companies. Influencers can offer sincere recommendations and reviews, which raises the legitimacy of a brand’s product.
Trade Shows and Industry Events
Showcase your cans at pertinent trade shows, exhibits, and industry events to meet new clients, distributors, and partners. Cans manufacturers can showcase the quality of their products on these occasions while networking with influential people and learning important industry insights.
The target market, financial constraints, and overarching marketing plan of the cans manufacturer may all impact these strategies’ efficacy. They must adjust their approach to fit the needs and tastes of potential customers in the cans market.
Global Cans Demand Outlook
Key Cans Market Insights (2018 to 2019): Initially, glass bottles were considered to be the most convenient packaging option by end users. Since the last decade, product safety has become a key concern of consumers, as glass bottles are delicate and have a high risk of accidental breakage in case of mishandling.
Can Sales Trends (2019 to 2020): Expanding utilization of cans in various end-use sectors such as beverages, pharmaceuticals, cosmetics and personal care is anticipated to boost the market, and the historic period witnessed the entry of multiple market players and product innovations.
Cans Market Growth Factors (2021 to 2022): Utilization of cans among end users significantly increased in the past decade, attributed to the urgent need to minimize the inclusion of over-sized and excess material-based packaging formats.
Cans are available in various sizes for single-time beverage consumption or bulk storage of health supplements and baby food. As per the consumer survey conducted by FMI’s analyst, nearly 78% of end users, including beverage, food, pharma, and homecare product manufacturers, shifted to cans from traditional packaging options.
The consumer inclination towards hygiene and high-barrier packaging formats is expected to push the cans market across various regions. As it can protect the product from numerous environmental factors and provide spill-proof packaging, most end users consider them ideal packaging solutions for liquid and powdery products. Besides, aluminum, tin/steel, or plastic cans are tamper-proof and offer good resistance against sudden impacts & damage during material handling and transportation.
Competitive Landscape
Leading cans manufacturers are increasing their production capacity to meet the growing demand for aluminum cans across food, beverages, personal care & cosmetics, pharmaceuticals, and paints & lubricants industries.
Meanwhile, other pivotal cans manufacturers are expanding their product portfolios to cater to the growing demand for aluminum cans in various industries.
