MARKET OVERVIEW - GLOBAL METAL CANS MARKET
Metal cans are widely used in packaging systems. Metal cans are used in several industries to package products, but are commonly used in the food and beverage industry to distribute and store products. Also, it is widely used in the consumer goods, pharmaceutical and chemical industries. Metal cans are characterized by hermetically sealed lids, resistance to transport and improper handling, and ease of recycling. It is composed of steel, tin, and aluminium. Tin-based metal cans are widely used due to their low cost, corrosion resistance, and strength. Metal cans are 100% recyclable and also have a reduced CO2 content. Furthermore, changing consumer lifestyles, increasing use in the food and beverage packaging industry, and growth in personal care products are the major factors driving the growth of the market.
MARKET DRIVER
Increasing demand for packaged food due to changing lifestyles of individuals is expected to drive the growth of the market growth. Increasing use of cans in the food and beverage packaging industry is driving the growth of the metal cans market to the maximum extent. The metal cans serve the purpose of packaging various commodities, such as food and beverage products, oil, chemicals, and others. This may be due to the convenience and cost effectiveness of canned food. Also, the rising demand for lightweight packaging is another reason to expect a market boost in the coming years. Further, increasing population awareness and concern regarding the use of non-carcinogenic packaging materials is expected to drive the market over the forecast period. Thus, growing awareness of low-priced sustainable packaging solutions supports the growth of the metal cans market.
MARKET OPPORTUNITY
Product differentiation and the use of environmentally friendly products and practices can serve as market opportunities. The growing use of designer metal cans featuring images and printing labels to promote products is anticipated to boost the market for metal cans. Also, the potential for growing demand for polymer-based packaging material such as polyethylene and polyethylene terephthalate packaging is creates product opportunities. Thus, innovations in the packaging industry that are free of harmful bacteria make these canned foods an excellent source of nutrients, facilitating the growth of the metal can in the future.
MARKET RESTRAINT
The volatility in raw material prices, and the lack of the microwave's ability compared to other alternatives such as paper and plastic can limit the market. Also, the presence of polymeric materials for packaging applications restricts market growth. In addition, the shortage of raw materials such as packages using polymers and the deterioration of functions that can be used in microwave ovens are hindering growth.
MARKET GROWTH CHALLANGE
The increasing use of bio-based plastics in food and beverage packaging poses a major challenge for metal can manufacturers in the market. Therefore, increasing adoption of bio-based plastics for the packaging industry, mainly food and beverage can makers, will challenge the growth rate of the market.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of the global metal can market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The high demand for the sale of aerated and non-aerated beverages is expected to witness metal can market growth at a specific CAGR from 2022-2028.
GLOBAL METAL CANS MARKET SEGMENTAL OVERVIEW
The global metal cans market comprises different market segment like material, fabrication, end-user and geography.
GLOBAL METAL CANS MARKET BY MATERIAL
By material, the metal cans include key segment of
The aluminium cans segment is expected to dominate the market over the forecast period. This is so because aluminium is a lightweight material and is extremely non-reactive. Also, due to the higher recycling rates, aluminum cans are seeing increased penetration of metal cans. The relative sustainability of aluminum as a base material has led metal manufacturers to use this material to meet consumer demand of environmentally friendly products and packaging. According to the can manufacturers institute, manufacturers are using recycled material to produce new aluminium cans because it uses 95% less energy. Adding to that, as per the report by packaging machinery manufacturers institute (PMMI), more than 6,000 microbreweries in the US are moving to aluminum cans. Thus, increased awareness about aluminium materials is expected to drive market consumption in the coming years.
GLOBAL METAL CANS MARKET BY FABRICATION
By fabrication, the metal cans include key segment of
- Two Piece Metal Can
- Two Piece Drawn and Ironed Cans
- Three Piece Metal Cans
- Sculptured Metal
The two-piece metal can segment is expected to dominate the market over the forecast period. Two-piece tins are easy to make, durable and very convenient to carry and stack. Two-piece metal can provide superior protection to extend shelf life and reduce food waste. Two-piece metal cans are used to pack the instant food that is not required for thermal processing before consumption.
GLOBAL METAL CANS MARKET BY END-USER
By end-user, the metal cans include key segment of
- Food & Beverage
- Cosmetics and Personal Care
- Pharmaceutical
The food and beverage segment is expected to dominate the market over the forecast period. Due to high consumption of carbonated, non-carbonated, and sports and energy drinks. The rise in the consumption of alcoholic beverages leads to the growth of the beverage cans market. Also, changes in consumer trends toward healthy drinks are boosting the market for metal cans. Besides, organized retail has seen significant growth, creating demand for a variety of packaging options in the food industry, and metal cans are no exception.
GLOBAL MEAL CAN MARKET BY GEOGRAPHY
By geography, the metal can include key segment of
- North America
- Asia Pacific
- Europe
- RoW
Asia Pacific is expected to dominate the market over the forecast period. The increasing demand for various health drinks, carbonated drinks, health drinks, and sucralose juices. The food and beverage industry and industrial applications are driving the metal can market in the region. Also, the expansion of the market for metal cans is driven by the increasing consumption of the end-use industries present there. Further, due to the presence of numerous industries and the establishment of new advanced manufacturing facilities built by OME, which is to the rise in accessibility of raw products so available at a cheap rate.
Europe is expected to register the fastest CAGR during the forecast period. Due to changes in regulation on the use of plastics and the emergence of new players, they are expected to drive the market. Strong investment in R&D and technological advancement are expected to have a positive impact on the market. These factors drive the market for food and beverage metal cans in the North America region.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the metal can market is primarily focused on expanding the global growth of the metal can market through new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the market has led to the growing demand for the market. Besides, the market offers a range of products to fulfil the required demand of consumers, which is further contributing to healthy growth in the market.
The key players studied in market are
- Independent Can Company
- SKS Bottle & Packaging
- Crown Holdings Inc
- Silgan Containers LLC
- Caira Can Company Limited
- Toyo Seikan Co LTD
- BWAY Corporation
- Kian Joo Group
- Amcor Ltd
- Berlin Packaging Company
- Dongwon Group
RECENT DEVELOPMENT:
January 2020: Ardash Group declared its new facility in Huron to start manufacturing metal cans. This company planned to manufacture the beverage cans in several sizes for a variety of glasses, including teas, sparkling water, soft drinks, and alcoholic beverages, in the new facility.
