The Food & Beverage Metal Cans Market projected to grow at a (CAGR) of 3.6% during the forecast period
“Food & beverage metal cans market is projected to grow at a CAGR of 3.6% in terms of volume”
The food & beverage metal cans market has grown rapidly in the last few years and is projected to reach 551.38 billion units by 2022, and by value it is projected to reach USD 63.01 billion by 2022. The primary factors driving the food & beverage metal cans market are, the recyclable and reusable properties of metal cans, nutritional contents & cheaper price of canned food, and hygiene offered by packaged food & beverage products. The major restraints are customers moving towards alternative packaging options, high cost of metals, and the growth of metal cans is sluggish in developed markets.
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“Aluminum: most widely used material to manufacture food & beverage metal cans”
Aluminum is the most widely used material in the food & beverage metal cans process to manufacture food & beverage metal cans. Aluminum possesses many advantages over steel cans such as they are lightweight and have the highest recycling rates as compared to any other packaging material.
“Sports & energy drinks is the fastest-growing sub-application of the beverage metal cans market”
Metal cans are prominently used to package various beverage products due to their design and tendency towards chilling quickly. Sports & energy drinks are the fastest-growing sub-application of the beverage metal cans market. It is a part of functional drinks market, with the huge market potential and the growing preference. Promotional cans for sports & energy drinks, launched in marketing campaigns and social media drive the beverage metal cans market.
“Emerging economies: The future of the food & beverage metal cans industry”
Emerging economies such as BRIC (Brazil, Russia, India, and China) and CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa) are poised to account for much of the global growth for metal cans in the upcoming years. Growth in these countries is mainly driven by the favorable demographics, rising household incomes, and busy lifestyles of consumers, inclining them towards ready meals and canned foods in particular.
Food & beverage companies are pursuing aggressive growth strategies in emerging economies by diversifying their product offerings and strengthening its distribution base. Metal can packaging companies can increase their presence by serving their customers in new regions such as Asia, Latin America, the Middle East, and Africa. Growth in these developing regions over the next few years exhibits promising opportunities for business expansion.
Break-up of Primaries:
• By Company Type: Tier 1 – 40 , Tier 2 – 40, and Tier 3 – 20%
• By Designation: C level – 40%, Director level –10%, and Manager level – 50%
• By Region: North America – 20%, Europe – 60%, Asia-Pacific – 20%
The leading players in the food & beverage metal cans market are Crown Holdings, Inc. (U.S.), Ball Corporation (U.S.), Silgan Holdings Inc. (U.S.), Ardagh Group (Luxembourg), and CAN-PACK S.A. (Poland). Other players including T Kian Joo Group (Malaysia), CPMC Holdings Limited (China), Kingcan Holdings Limited (China), Tetra Laval International S.A. (Switzerland), and HUBER Packaging Group GmbH (Germany) also have a strong presence in the global food & beverage metal cans market.
Related Report:
Can Coatings Market by Type (Epoxy Acrylic Polyester Oleoresins Vinyl Alkyd Polyolefin) Application (Food Cans Beverage Cans General Line Cans Aerosol Cans) and Region(APAC North America Europe South America ME&A) - Global Forecast to 2022
“Increasing use of can coatings in food and beverage cans is driving the growth of can coatings market globally”
The global can coatings market is estimated at USD 1.91 billion in 2017 and is projected to reach USD 2.27 billion by 2022, at a CAGR of 3.4% between 2017 and 2022.
Can coatings find applications in food, beverage, aerosol and general line cans. Food and beverage cans cumulatively account more than more than 70% of the can coatings market. Increasing per capita expenditure on food & beverages, rising disposable income, standard living, changing consumer tastes, dietary trends, and growing middle class are major factors to propel the growth of food & beverages, pharmaceutical, and personal care industries. This in turn is expected to fuel the consumption of metal cans in these industries. Such attributes are expected to drive the can coatings market. Strict regulations on BPA by food authorities have restrict the consumption of can coatings in food can and beverage can applications. Hence, can coatings producers are focusing on the development of alternatives to BPA based can coatings.
Read More: https://watchersofmarkets.com/products/can-coatings-market-by-type-epoxy-acrylic-polyester-oleoresins-vinyl-alkyd-polyolefin-application-food-cans-beverage-cans-general-line-cans-aerosol-cans-and-regionapac-north-america-europe-south-america-me-a-global-forecast-to-2022
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