Market Scope
The study conducted by Market Research Future (MRFR) anticipates decent gains for the metal cans market 2020, at an expansion rate of 3.5% between 2014 and 2022 (evaluation period).
Growth Promoters and Primary Deterrents
Food processing and safety testing industries are projected to grow resiliently, on account of the increasing stock-piling of goods during the COVID-19-induced lockdown. FDA has gone ahead and relaxed the products’ nutrition labeling to help promote the distribution of packaged foods. This has led to a more fortified supply chain of goods and items to consumers and lesser revenue loss for leading manufacturers. Considering these factors, the metal cans market is projected to do decent business throughout the review period, despite the corona outbreak.
Metal cans have gained massive prominence across industries, because of its distinct features including resistance to irregular handling during transportation, easy recyclability and hermetically sealed cover. Their environmental benefits coupled with the escalating demand for canned products also benefit the metal cans industry. Some of the major raw materials (steel and aluminum) suppliers in the global market include ArcelorMittal, UC Rusal, Hydro, Chalco and Alcoa, to name a few.
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The heightened demand for chemical-free canned foods has compelled manufacturers to focus on innovations and advancements in packaging. A number of brands have begun offering food items in BPA-free containers, which is a big hit among consumers. Apart from this, the demand for tamper-proof and sealed steel metal cans is soaring at a high rate, since these help safeguard products from harmful bacteria. Moreover, with the rising prevalence of busy and hectic lifestyles among consumers, the importance of canned food has surged manifold across the globe, leading to more demand for metal cans.
Market Segmentation
For enhanced understanding, the report has segregated the metal cans industry into three primary dynamics; namely material, type and application.
The materials used during the manufacturing of metal cans market include steel, tin, aluminum, and more. Key characteristics such as unbreakablity, excellent resistance to oxidation and lightweight make aluminum the top choice of manufacturers in the global market.
The key metal can types are 2-piece as well as 3 piece.
The main applications of metal cans are food, beverage and others. There is a huge demand for beverage metal cans in the market, on account of the mounting consumption of beers, fruit juices and carbonated soft drinks (CSD) all over the world. On the other hand, the escalating global demand for canned and frozen food can induce considerable demand for food metal cans in subsequent years.
Regional Insight
Europe, APAC or Asia Pacific, North America, and RoW or Rest of the World are the main markets for metal cans, as profiled in the MRFR report.
Europe and North America are the leading markets for metal cans at present, thanks to the massive demand in the food & beverage industry. The rising consumption of beer along with various alcoholic beverages is fostering the market growth in these areas. The high consumption of canned and frozen food in the U.S and the U.K also results in business expansion across these regions. The Canadian industry is constantly exploring ways to improve the manufacturing processes with the aim to offer the safest, top quality products. However, experts anticipate lethargic market growth in these regions during the evaluation period, owing to the increasing availability of alternative cans and their rising preference among consumers.
The fastest expansion can be witnessed by the APAC market in the following years, as a result of the rising disposable income, easy obtainability of different beer brands at varying prices, and the surging influence of the western culture. The expanding youth populace and the soaring beer consumption among them are likely to be important growth boosters in the regional market for metal cans. The growing number of grocery stores and superstores and the large number of small households present in the region also boosts the demand for metal cans in the food and retail sector.
Prominent Contenders
Prominent contenders working on boosting their market position include Independent Can Company (U.S.), The Cary Company (U.S.), Ball Corporation (U.S.), Rexam plc (U.K.), SKS Bottle & Packaging, Inc. (U.S.), Allied Cans Limited (Canada), Berlin Packaging (U.S.), Kaira Can Company Limited (India), Silgan Containers LLC (U.S.), Ardagh Group S.A. (Luxembourg), HUBER Packaging Group GmbH (Germany), Allstate Can Corporation (U.S.), CPMC Holdings Limited (China), Crown Holdings, Inc. (U.S.), Kian Joo Can Factory Berhad (Malaysia), and more.
Latest News
May 2020
Campbell Soup Company (U.S) are now set to follow new goals for bringing down packaging waste, with the surge in circularity. This approach can help lower packaging waste via more spending on recyclability, and for this, they are expected to make more use of steel cans. These metal cans are the most recycled packaging in the food and beverage industry of the country.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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