Metal cans are one of the most consumed forms of packaging in many businesses. Ease of use and high accessibility has aided the acceptance of metal cans in packaging in the last century. The industry has observed abundant revolutions since its commencement regarding the manufacturing processes, shapes, sizes, and consumption. Preservative properties and higher shelf-life have given rise to in the amplified disposition of metal cans in food packaging industry, which positions as one of the largest consumer industries for metal cans. Aggressive marketing by beverage companies towards the use of metal cans has also had an influence on the global market, with canned beverages being considered fashionable and more difficult to tamper with, although users also consider handling canned food suitable and cost-effective.
Increased investments in canned packaging R&D have additionally propelled the growth of the market. Innovations, like compact surface area without affecting the volume, have resulted in lowering the price of packaging of metal cans, consequently, assisting companies in lowering packaging expenses. Consumer trends, such as smaller size consumption and multi-pack consumption, are also fuelling the volume growth of the cans in the US and European regions, while comparable trends have been witnessed in the Asia-Pacific region. The rising demand for mini-cans is likely to influence the growth of the market. Due to growing environmental awareness, customers are demanding metal cans as they have a lower environmental impact. High recyclability of metal is one of the key factors of the market. The economic conditions and lower pricing of canned goods in some regions remains a major driver of the market. Growing consumption of canned beverages in several sports tournaments including Barclays Premier League, Major League Baseball and La Liga owing to the mounting convenience in handling the food times is likely to increase the metal cans market demand over the forecast period.
The global Metal Cans market is segmented based on metal type, product and region.
By type, the global metal cans market is categorised into Aluminium, Steel and Others. Aluminium cans are observing improved penetration into the metal cans market, supported by their higher recyclable rate. Relative sustainability of aluminium as a base material has additionally led metal can manufacturers toward consuming the material, in a way meeting customer demand for green products and packaging. Producers are using recycled material to produce new aluminium cans as it results in 95% less greenhouse gas release and also uses 95% less energy, according to Can Manufacturers Institute. As per the report by Packaging Machinery Manufacturers Institute (PMMI), over 6,000 microbreweries in the US are shifting to aluminium cans. Besides, packaging waste recovery data presented by Environmental Agency revealed that aluminium cans had hit 72% recycling rate in 2017 in Europe.
Based on product, the Metal Cans market has been sectioned into Food sector and Beverages sector. Food sector includes fruits, vegetables, soups & miscellaneous foods and others while beverages sector consists of carbonated soft drinks, alcoholic beverages and fruit & vegetable juices. Beverage segment is expected to dominate the market during the forecast period and is likely to be the fastest growing application until the end of 2025, owing to their high-end application to pack alcoholic & non-alcoholic drinks and aerated & non-aerated beverages.
Geographically, this market is segmented into North America, Europe, Asia-Pacific and Rest of the World. The European and North American regions presently control the global metal can packaging market, due to high utilization of metal cans in the food & beverage industry. However, these regions are assessed to spectate a sluggish growth due to the obtainability of the substitute packaging. The Asia Pacific market is expected to sustain a higher growth rate over the forecast period. The emerging economies in the Asia Pacific region are exceedingly endorsing investment through numerous government initiatives, to launch consumer-oriented industries. Rest of the World is likely to obtain steady momentum over the forecast period due to the growth in food & beverage industry across key developing nations in the region.
The major players involved in this market are Amcor Ltd., Ball Corp., CPMC Holdings Ltd., Ardagh Packaging Group Plc., CPMC Holdings Ltd., Kian Joo Group, Silgan Containers Corporation, Crown Holdings Inc., Rexam Plc, Sonoco Phoenix Inc., and Silgan Containers Corporation among others.
The Global Metal Cans Market is segmented by type, application and geography. Based on type, this market is classified into aluminium, steel and others.
Metal can is the developing field of global packaging market. This market is facing challenges owing to its shifting raw material cost and occurrence of additional packaging material in the market. This factor is tactically dealt in the study and more importance is given towards its commercial applications and future market opportunities. Due to the presence of prominent alternatives such as plastic and paper packaging in the market, the suppliers bargaining power would be low and buyers would enjoy high bargaining power.
On the basis of product, this market is classified into Food sector and Beverages sector separately.
Geographically, this market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific is projected to be the fastest growing metal cans market owing to its thriving economy coupled with growing spending in processed food and beverages items, busy lifestyle and advantageous demographics. Quick growth of consumer goods in India, China and Japan prominently affect the product demand in various applications including packaging of vegetables & fruits products.
Why to buy this report:
The report offers changing market dynamics in the Metal Cans industry, presenting historical, current and projected market size in terms of value (USD Billion)
The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of Metal Cans market
It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments, and a neutral perspective on the Metal Cans market performance
The report also offers strategic recommendations in key business segments based on the market estimations and competitive landscape, mapping the key common trends of Metal Cans market