Canned Food Packaging Market Worth USD 38 Billion by 2028 Witness a CAGR of 4.8%- Report by Market Research Future (MRFR) – GlobeNewswire

New York, USA, Dec. 07, 2022 (GLOBE NEWSWIRE) — Canned Food Packaging Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “ Information By Material, Type of Food Product, And Region – Forecast till 2030”, the market is estimated to grow at a 4.8% CAGR to reach USD 38 Billion by 2028

Market Synopsis

Food that has been processed or canned provides an excellent supply of nutrients, shields the food from the elements, and is hygienic. The most popular canned food is packaged in metal because it is simple to use, distribute, and eat. As aluminum packaging is growing in popularity, it provides better security and defense against outside elements like heat and pollution. The primary drivers behind the growth of the worldwide canned food packaging market are the rise in demand for prepared canned meals and out-of-season food goods. A cost-effective way to preserve perishable commodities with little flavor alteration to canned food products. The expanding horticulture and marine processing sectors are thereby boosting the development of the canned food packaging sector.

Food in cans is utilized for various things, including portion control, barrier and contamination protection, and convenience. Food safety concerns are addressed through sustainable packaging, which guards against chemical contamination, food-borne illnesses, and loss reduction while maintaining food quality. Due to their convenience in disposal, benefits in recycling, and longer shelf life, food cans are among the widely used packaging materials in the food and beverage industry. Governmental programs aimed at ensuring food security are boosting the global food and beverage sector, which will increase demand for food cans as packaging.

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Report Scope:

Report Attribute Details
Market Size in 2028 USD 38 Billion
CAGR 4.8% (2021–2028)
Base Year 2020
Forecast Period 2021–2028
Historical Data 2019
Forecast Units Value (Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Material, Type of Food Product, And Region
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers The rise in the demand for readymade canned foods and off-seasonal food products.
The changing consumer preferences of food products owing to the increase in the living standard of people.

Market Competitive Landscape:

The famous contenders in the canned food packaging market are:

  • Amcor Ltd. (Australia)
  • Rexam Plc. (the U.K.)
  • Toyo Seikan Kaisha Ltd. (Japan)
  • Ball Corporation (U.S.)
  • Huber Packaging (Germany)
  • Ardagh Group (Luxembourg)
  • CPMC Holdings Ltd. (China)
  • Crown Holdings (U.S.)
  • Grief Incorporated (U.S.)
  • Silgan Holdings Inc. (U.S.)

Market U.S.P. Covered:

Market Drivers:

Foods that can be preserved are in high demand as customer tastes for food goods change as living standards grow. People often accept canned foods because of their hermetically sealed cans’ protection against microbial contamination. Additionally, as society strives toward sustainability, the commercial position of metal and glass cans is strengthened by their capacity to be recycled. The primary drivers of the growth of the worldwide canned food packaging market are the increased demand for premade meals and out-of-season food items. Food product canning is a cost-effective way to preserve perishable goods with no change in flavor. Consequently, the packaging canned food industry is expanding due to the rising horticulture and marine processing sectors.

Canned foods are in high demand due to shifting customer preferences for goods brought on by a rise in people’s living standards. Furthermore, the easy accessibility of canned food with a wide range of particular tastes and options, as well as the constantly evolving lifestyle, rising disposable income, and declining prices of packaged or canned food products make them affordable for use, and all of these factors have contributed to the growth of the worldwide canned food packaging market. New methods of packing canned food are being developed due to technological improvements in packaging technologies, which will raise the global market over the forecasted years.

Market Restraints:

The main risk to the expansion of the canned food packaging business worldwide is the high cost of canned production materials like aluminum and the availability of less expensive substitutes. Canning also requires a lot of stages and equipment, and it takes a long time. Additionally, canning cannot retain product freshness, and consumer unhappiness with canned goods is attributed to worries about BPA in canned goods.

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COVID 19 Analysis

The influence of COVID-19 on the worldwide market is less than that of other manufacturing sectors because the food industry was kept under vital services by all countries. Flexible packaging businesses that serve industries like packaged foods might fare well during the continuing pandemic. The need for packaged food is fueled by shifting consumer demand patterns, legislative initiatives, and stockpiling. Many consumers in developing nations like India have switched from unpackaged food to packaged food due to the pandemic’s increasing threat to food safety. During the outbreak, the emergence of e-commerce shopping and flexible packaging for food packages also contributed to the increase in domestic packaged food sales. However, the market’s expansion is being constrained by trade barriers and supply chain disruptions.

Market Segmentation

By type of food product, the market includes ready-made meals, meat, and seafood. By material, the market includes metal, steel, and aluminum.

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Regional Insights

Due to the region’s large consumption of canned food, North America is considered a very lucrative market for the packaging of tinned food. North America regionally dominates the market for canned food packaging. The majority of the demand inside this region is driven by the strong demand for packaged food items, particularly ready-made meals. The rising disposable money and busy lifestyles of people contribute to the demand for canned goods. The fastest-growing regional market category is the Asia-Pacific area.

The primary factors affecting the market growth in this area are the rising disposable income and changes in lifestyle. Additionally, a substantial need for canned food packaging materials is caused by the region’s expanding food processing industry. The European region also accounts for a sizeable portion of the global market. Canned products are a more desirable option on the market due to the high need for recyclable and ecological packaging materials. The Middle East region has a high demand for canned goods, including horticulture items and beverages. Over the projection period, a moderate market growth rate is anticipated in Latin America and Africa.

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