During the projected period (2023 to 2033), the global canning equipment market is expected to witness growth at a CAGR of 4.4%. The market is anticipated to surge by reaching a valuation of USD 20.15 Billion in 2033 from USD 13.1 Billion in 2023. The market stood at USD 19.9 Billion at the end of 2021 and is expected to showcase y-o-y growth of 3.1% in 2022.
The increasing need for superior and highly portable packaging solutions for the protection of goods from the external environment is expected to augur well for the market. The emergence of new fruit juices and sports drinks is further accelerating the demand for sturdy beverage cans across the globe.
Rising consumption of non-alcoholic products, especially among health-conscious consumers, and high demand for ready-to-drink (RTD) products in can packaging are also anticipated to fuel the market. Country-wise, the USA is considered to be the biggest market for beverage cans with the largest per capita can consumption in the world.
With growing health consciousness among millennials worldwide, several beverage manufacturers are coming up with upgraded and innovative products. They are mainly focusing on infusing their products with low-sugar, low-calorie, and natural ingredients such as stevia. This factor is further expected to help consumers shift rapidly towards non-alcoholic beverages.
In October 2022, for instance, Longbottom & Co., a British producer of vegan and clean-label beverages, launched Longbottom Virgin Mary, bringing the premium, non-alcoholic, pourable Bloody Mary mixer to Chicago-based consumers. It marked the beginning of the company’s on and off-premise distribution, which will be collaborated with aviation customers and direct-to-consumer (DTC) models by 2023.
Similarly, in October 2022, SPC Australia, a leading canning solution provider, launched a new sparkling water to attract the health-conscious younger population. It also unveiled ambitious global expansion plans for the future. The newly launched canned sparkling water has sugar-free natural flavoring. With this launch, the company is aiming to target the younger demographic who are looking for healthier alternatives to traditional soft drinks.
Thus, key companies are focusing on launching healthy and nutritious beverages for people of all age groups. This factor is expected to fuel sales of canning equipment as the majority of the beverages are marketed in cans for high portability and convenience.
| Attributes | Key Insights |
|---|---|
| Global Canning Equipment Market Estimated Size (2023E) | USD 13.1 Billion |
| Projected Market Valuation (2033F) | USD 20.15 Billion |
| Value-based CAGR (2023 to 2033) | 4.4% |
| Market Share of the USA in North America | 28% |
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As per a new study by FMI, the global canning equipment market exhibited steady growth at a CAGR of 3.2% during the historical period from 2018 to 2022. The rising middle-class population, especially in countries such as Chile, India, Argentina, China, and Brazil, is pushing sales of packaged products, including alcoholic & functional beverages and carbonated soft drinks. It is thus creating favorable growth prospects for both beverage and can manufacturers worldwide.
Furthermore, FMI suggests that in the next ten years, Asia Pacific is anticipated to be a significant supplier of processed steel and aluminum sheets for the rest of the world. The region is primarily characterized by well-established manufacturing bases, low-cost labor, availability of abundant raw materials, and high development rates.
Apart from that, the region is projected to account for a considerable percentage share of the global population, which is set to lead to substantial consumption of beverages. Rapid industrialization in India and China is another factor that would result in the high disposable income of the population, thereby stimulating the demand for beverage cans.
As per the India Brand Equity Foundation (IBEF), at present, the Indian food and beverage industry is valued at USD 40.3 Billion. The Ministry of Food Processing Industries is taking numerous efforts to accelerate investments in the sector. It is also providing funds to set up facilities that are equipped with unique food and beverage packaging equipment. Owing to the aforementioned factors, the market is set to witness growth at a CAGR of 4.4% in the next ten years.
Various factors are responsible for influencing the canning equipment market in the assessment period. Analysts at FMI have provided readers with growth drivers, upcoming threats, lucrative opportunities, and restraints that can impact the global market in some way or the other.
The drivers, restraints, opportunities, and threats (DROTs) identified are as follows:
DRIVERS
RESTRAINTS
OPPORTUNITIES
THREATS
High Demand for Craft Beer in the UK to Push Sales of Commercial Canning Equipment
As per FMI, the UK is set to generate a share of around 22% in the Europe canning equipment market during the evaluation period. It is also projected to be valued at USD 951 Million by the end of 2033.
The UK food and beverage industry is likely to progress at a rapid pace with an increasing trend for on-the-go snacking among consumers. Besides, rising demand for craft beer due to the increasing per capita income of target consumers is set to trigger the need for robust cans in the UK
Rising Need for Ready-to-drink Beverages in the USA to Spur Sales of Metal Canning Equipment
According to FMI, the canning equipment market in the USA is projected to account for around 68% of the share in North America. It is anticipated to create an absolute dollar opportunity of USD 2.4 Billion by the end of 2033.
Demand for cans in the USA is primarily set to be generated among ready-to-drink beverage manufacturers. The beverage sector in the country is consolidated with major players producing millions of cans a day. They own automatic canning lines with massive production capacities going up to 50000 cans per hour.
Food & Beverage Companies to Look for Advanced Pressure Canning Equipment by 2033
Based on end use, the food and beverage industry is estimated to dominate the global canning equipment market during the assessment period. With rising consumption of both alcoholic and non-alcoholic beverages such as carbonated drinks and beer, the demand for cans has surged at a fast pace in the food and beverage industry.
As per the National Beer Wholesalers Association (NBWA), the United States beer sector sold around 208.6 million barrels of beer in 2021. Also, the industry shipped nearly 3.5 million barrels of perry, hard cider, and other fermented products. These numbers are projected to increase at a rapid pace in the next ten years with high demand for expensive beverages, as well as the premiumization of products.
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The market is highly fragmented with the presence of a large number of small-scale and international companies across the globe. Technological advancements, the launch of innovative packaging solutions, and competitive prices are some of the major strategies followed by key companies worldwide. A few other companies are expanding their portfolios and creating awareness regarding sustainability to broaden their client base.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 13.1 Billion |
| Projected Market Valuation (2033) | USD 20.15 Billion |
| Value-based CAGR (2023 to 2033) | 4.4% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD Billion) |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa(MEA) |
| Key Countries Covered | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Argentina, South Africa, UAE |
| Key Segments Covered | Canning Type, End User, Canning Capacity, Automation Grade, Can Material Type, Region |
| Key Companies Profiled | Cask Brewing Systems Inc.; Wild Goose Canning Systems; Dixie Canner Co.; Enterprise Tondelli; Vigo Ltd.; HOR YANG Machinery and Alpha Brewing Operations; Leva Packaging Equipment Co., Ltd; PromoCan; BrewKeg Tap; INNOVUS Engineering; Unity Metals Container; Pneumatic Scale Angelus; Blenzor |
| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
By 2023, the market is anticipated to achieve sales of USD 13.1 Billion.
By 2033, the global market is going to be worth USD 20.15 Billion.
Through 2033, the market is set to expand at a CAGR of 4.4%.
From 2018 to 2022, global sales increased at an HCAGR of 3.2%.
The United Kingdom is expected to earn a share of 22% in Europe.
The food and beverage sector is predicted to rule the global market in terms of end use.
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Canning Equipment Market
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