Metal Cans & PET Bottles Market: Current Analysis and Forecast (2023-2030)

Metal Cans are defined as clean, empty metal containers made of aluminium or tin-plated, or zinc-plated steel, which is commonly used for packaging food, beverages, or other products. Also, metal has a lighter environmental footprint than plastic because metal is easy to recycle and can deteriorate through natural processes. Whereas PET or Polyethylene terephthalate is a strong, stiff synthetic fiber that hails from the family of polymers made with ethylene glycol and terephthalic acid. Almost every plastic water bottle on the planet Earth is made of PET. PET Bottles are the name of a type of clear, strong, lightweight, and 100% recyclable plastic.

The Metal Cans & PET Bottles Market is expected to grow at a steady rate of around 5% owing to the increasing surge for bottled products coupled with the growing adoption of inorganic growth strategies among key players. Major companies in the market offer metal cans with the usage of CO2 for multiple applications within the industry. For instance, in March 2022, the German tinplate manufacturer ThyssenKrupp Rasselstein had the world's first food can made of CO2-reduced blue mint Steel in collaboration with the Swiss companies Hoffmann Neopac and Ricola, the latter of which will sell its herbal drops in the cans. Similarly, in June 2023, Coca-Cola India launched Kinley Bottles made with 100% recycled PET.

Based on material, the metal cans market is segmented into steel, aluminium, tin, and PET. The aluminium segment accounted for a significant market share, and it is estimated that it will grow rapidly during the projected timeframe. The demand for aluminium among the major players in the market increased due to aluminium's dominance as a material. Aluminium is said to be a lightweight and incredibly non-reactive material. It is very versatile, easy to stack, and extremely durable. For instance, in October 2019, Ball Corporation inaugurated a new aluminium cup production plant in Rome, Georgia, to meet the growing demand for beverage packaging in the United States. This new plant will aid the company's expansion in the United States.

Based on end-user, the metal cans & PET bottles market has been classified into food & beverage, pharmaceutical industry, personal care & cosmetic products, industrial chemicals, paint industry, and vitamins & supplements. The food & beverage category is expected to grow with a significant CAGR during the forecast period. This is mainly due to the rising adoption of metal cans & PET bottles to convenient and protective packaging for different types of food & beverages, depending on the type of product packaging material selected. Many players in the market are working towards the adoption to provide different varieties of cans & Bottles. For instance, in January 2023, Ardagh Metal Packaging launched a new can size to support beverage brands.

For a better understanding of the market adoption of the metal cans & PET bottles industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Rest of World. Asia Pacific caters extensive share of the metal can market and is expected to show an influential growth rate in the forecasted period as well. Growing demand for optimum utilization of natural resources has accelerated the trend for recycling activities coupled with government support of favourable policies and partnerships with non-profit agencies are accentuating the market size of metal cans. For instance, the Food Safety and Standards Authority of India (FSSAI) and the Asia Pacific Partnership on Clean Development and Climate (APP) in the region.

Some of the major players of metal cans operating in the market include CPMC Holdings Limited; Toyo Seikan Group Holdings, Ltd.; Can-One Berhad; CANPACK; Ball Corporation; Envases Group; universal can Corporation; INTERPACK GROUP; Nampak Ltd., The Cary Company, and Crown.

Some of the major players of PET Bottles operating in the market include SABIC; Graham Packaging Company.; Berry Global Inc.; HANEX; Toyo Seikan Co., Ltd.; Amcor plc; Ontario Plastic Container Producers Ltd.; Berry Global Inc.; YuHuan Kang-Jia Enterprise Co.,Ltd; and Visy.