MARKET OVERVIEW- UNITED STATES METAL CANS MARKET
Metal cans are containers used for the storage purpose of goods. These metal cans serve the purpose of packaging various commodities such as food and beverage products, oil, chemicals, and others. It is composed of steel, tin, and aluminum. Features of metal cans are hermetically sealed cover, resistance to transportation and irregular handling, and easy recyclability. It widely finds it applications in the food and beverage industry. Metal cans are lightweight and simple to stack. The 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
The growing environmental concerns around the country have resulted in increasing awareness about the type of packaging materials utilized. The recyclability of metal is one of the primary factors influencing the consumption of metal cans in the market. The rise in consumer awareness concerning the application of non-carcinogenic materials in packaging and increased demand for lightweight packing is generating high growth prospects for the metal cans market. Increasing public awareness about environmental concerns and pollution caused due to conventional packaging has resulted in higher demand for eco-friendly packaging, which is largely expected to boost growth in the United States eco-friendly metal can market. Thus, growing awareness of eco-friendly metal can supports the growth of the metal cans market. The consumer trends, such as a preference for small-size and multi-pack packaging formats, are also supporting the volume growth of the metal cans market in the country. Metal cans are one of the perfect packaging solutions for the on-the-go lifestyle of many consumers in the country, and their convenience is topping the benefits list. These factors are expected to drive the market growth.
MARKET OPPORTUNITY
The rise in the number of product innovation is expected to provide ample opportunity for the market. The increasing trend for the canned food in the market are enforced the manufacturers to create innovative packaging solution, with a rise in demand for the chemical-free canned foods, encourage the manufacturers to focus on innovations in packaging. 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. These factors are expected to restraint the market 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 an in-depth analysis of the United States 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.
UNITED STATES METAL CANS MARKET SEGMENTAL OVERVIEW
The United States metal cans market comprises different market segment like material, fabrication and end-user
UNITED STATES 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 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.
UNITED STATES 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 can consist of a can body and a removable end, and they are commonly used for beverages, such as soft drinks, beer, and energy drinks, as well as, for food products, such as soups and vegetables.
UNITED STATES 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 are expected to dominate the market over the forecast period. The pandemic has led to an increase in the consumption of cannel food and frozen dinners in the United States, which indicates a positive outlook on the market. 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%. Also, the usage of metal cans in the beverage industry can be widely classified into alcoholic drinks and non-alcoholic drinks based on the nature of the beverage. The change in consumer trends towards healthy drinks are boosting the market for metal cans.
COVID-19 IMPACT ANALYSIS ON UNITED STATES METAL CAN MARKET
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the United States metal Can market. In addition, complete analysis of changes on the United States metal Can market expenditure, economic and international policies on supply and demand side is included in this exclusive report. The report also studies the impact of pandemic on economies, international trade, business investments, GDP, and the marketing strategies of key players present in the market. The COVID-19 outbreak has affected various industries around the world. The metal can market has also had a huge impact. As the governments around the country have taken strict measures such as border seals, lockdowns and implementing strict social distancing measures to stop the rapid spread of COVID-19. These measures have had serious repercussions on the global economy, affecting various industries. These factors are expected to affect the demand for metal can market.
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 further contributes 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:
SEPTEMBER 2021: Ball Corporation announced a new U.S. Beverage Can plant in Nevada for supporting the long-term growth of the customers. The company's scheduled plan is to begin this production line in late 2022, creating closely 180 manufacturing jobs, and this plant is to serve the demand for recyclable aluminum containers.
MARCH 2021: Ball Corporation, along with the partnered company Damm, one of the leading beverage companies in Spain, introduced ASI’s (The aluminum stewardship initiative) aluminum cans for storage and packaging of beer in North America. This is expected to increase the sales performance of the company.
