North America Metal Cans Market Size

North America Metal Cans Market Analysis

The North America Metal Cans Market size is estimated at USD 12.94 billion in 2024, and is expected to reach USD 16.35 billion by 2029, growing at a CAGR of 4.78% during the forecast period (2024-2029).

With a significant share in the metal can packaging market, the food and beverage industry is witnessing massive demand amidst the COVID-19 pandemic, as the industry falls under the essential commodity. The lockdown enforced across the region due to the COVID-19 pandemic has bought a significant change in consumption habits. There has been an increasing demand for packaged food products, meat, vegetables, and fruits.

• Metal cans are one of the perfect packaging solutions for the on-the-go lifestyle of many consumers in the region, and their convenience is topping the benefits list. These can be easily transported or carried to festivals, beaches, and outdoor and sporting events, whereas glass is mainly restricted due to its breakability. In addition, the increasing popularity of energy drinks, the introduction of new products, and the price and recyclability of cans augment the studied market growth.
• Many brands are introducing new energy drinks. For instance, in 2020, Coca-Cola North America unveiled the first-ever energy drink under the Coke brand Coca-Cola Energy Cherry a flavor available exclusively in the United States. Their zero-calorie counterparts will be available nationwide in 12-oz. sleek cans.
• Furthermore, according to the Aluminum Association and Can Manufacturers Institute (CMI), 2020 report, the industry recycling rate of aluminum can account for 55.9% in the United States, and the Consumer recycling rate of aluminum can account for 46.1%. In addition, the value of material accounted for USD 1,210/tons.
• The cosmetic segment in the region is also driving the growth of the metal cans market in the area as many cosmetic and personal care manufacturers prefer metal cans packaging for their products. For instance, according to Happi Magazine, the unit sales of leading deodorant vendors such as Unilever, Procter, and Gamble, Colgate Palmolive in the United States in 2020 accounted for USD 327.04 million, USD 219.79 million, and USD 38.49 million, respectively.
• The food and beverage industry, with a major share in the metal, can packaging market, has witnessed huge demand amidst the COVID-19 pandemic, as the industry falls under the essential commodity. According to a 2020 survey published by Store Brands, the consumption of canned food due to the Covid-19 pandemic increased by 96% in the United States. Also, frozen dinners consumption also increased by 71%.