Food Cans Market Size

Food Cans Market Analysis

The food cans market is expected to register a CAGR of 4% during the forecast period (2021 to 2026), owing to increasing demand from the urban population and surging innovations in product and packaging solutions.

• The food industry uses cans for packaging of jam, jellies, sauces, salt, and oil and vinegar, among others. According to the US Census Bureau, in 2019, 292.74 million people consumed jams, jellies in the country. Also, increasing demand for organic foods is driving the demand for the food cans market. For instance, in the United Arab Emirates, more than 38% of consumers are increasingly purchasing organic produce in 2019, according to the Arla Foods Survey.
• The food and beverage industry is among the significant users of food cans for packaging due to its ease of disposal, recycling advantages, and increased shelf life. According to the 24/7 Wall Street, 98% of Americans keep canned foods in their kitchens, and soup is the biggest category of food that is preserved in a can in the United States. The 11 most popular canned soups account for more than 420 million cans annually.
• The primary drivers of the food cans market in the future are expected to be the increasing millennial population around the world. According to the UNICEF, by 2050, Africa's young people, i.e., those aged between 0 and 24 years, will increase by nearly 50%. Africa will have the most significant number of young people. Africa's youth are critical to the growth of the food cans market on the continent.
• Stringent regulations by several bodies, such as FDA, CPSC, and ISO, have been instrumental in driving product innovation and sophistication for the food cans market. For instance, according to the AMS Europe, aluminum recycling in Europe is estimated to be around 45% above, while Germany has collection and recycling rates above 85%.
• With the expansion of e-commerce, aluminum food cans are significantly used in products as they withhold the property, along with excellent inertness and resistance to any kind of breakage.
• Food security initiatives of various governments are promoting the food and beverage industry in the world, which in turn will drive the demand for food cans for packaging. For instance, in 2019, the Qatar government allocated about QAR 70.0 million annually to support the agricultural sector over the next five years to increase local production of vegetables, animals, and fish.
• With the recent outbreak of COVID-19, the packaging manufacturers are facing supply chain disruption along with decreasing manufacturing at the site in many parts of the world. For ensuring smooth flow of supply chain, Global Food Safety Initiative (GFSI) certification programs are providing six-month certificate extensions by conducting a remote audit and risk assessment about COVID-19 such that the company can approve a new supplier location without an on-site inspection to meet the demand.