Market Size of 3 Piece Metal Cans Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 31.95 Billion |
| Market Size (2029) | USD 42.39 Billion |
| CAGR (2024 - 2029) | 5.82 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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3 Piece Metal Cans Market Analysis
The 3 Piece Metal Cans Market size is estimated at USD 31.95 billion in 2024, and is expected to reach USD 42.39 billion by 2029, growing at a CAGR of 5.82% during the forecast period (2024-2029).
- Three-piece cans have several environmental advantages, including a higher recycling rate compared to materials like glass. Metals like aluminum can be recycled without any loss in performance, and recycling aluminum uses about 95% less energy than producing it from raw materials.
- This makes recycling three-piece cans a strong incentive. The increasing demand for recyclable three-piece cans is expected to create profitable opportunities for market growth. Beverage applications dominate the global three-piece cans market. The segment is expected to witness significant growth on account of the increasing demand for carbonated soft drinks across the globe.
- The global demand for alcoholic and carbonated drinks is growing rapidly, leading to an increased need for metal cans. In 2022, around 175.8 billion aluminum cans were used worldwide, particularly for beer and soda.
- The United States has a well-established beverage market, encompassing both alcoholic and non-alcoholic drinks. In 2021, the total beer market in the United States was valued at USD 100.2 billion, with craft beer accounting for USD 26.8 billion (21.0%). The Brewers Association noted a 7.9% increase in craft beer sales, equivalent to approximately 24.5 million barrels. Consequently, there is a notable surge in demand for metal cans in the United States market.
- COVID-19 drove the market as people switched to storing food or preferring items that were less in contact with other humans, resulting in a higher demand for canned products.
