Metal Cans Market – Overview
The global metal can market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of metal can market is influenced by the increase in usage of metal cans by the food and beverage industry and environmental advantage of metal can. Fluctuation in raw material prices hinder the growth of the metal can market.
Metal can are majorly used by over 200 brands across 200 products because they are safe, efficient and protect the products from leakage. Various innovation has been bought in metal can over the past years such as shaped can, printing technology, and improvement in the components of the product. The product which uses metal can have longer shelf life because they are protected from the air and light which can cause the product to degrade. The product in metal can is sealed which protects the product from contamination with bacteria or dust. Due to this metal can are mostly used, which drives the growth of metal can market.
The two materials predominantly used in metal packaging are steel and aluminium. Steel and aluminium are expensive compared to plastic. The raw material cost depends on the terms and duration with the steel manufacturers typically for one year or for multi-year duration. The raw materials availability depends on the global and local demand and supply force, government regulations. The price of steel and aluminium is very fluctuating due to which the material cost can increase or decrease. If the price of the steel and aluminium is high then the material cost will also increase and vice versa. Therefore, the fluctuations in the prices of raw materials is expected to hinder the growth of the market.
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Key Players:
Rexam PLC, Silgan Containers LLC, Kian Joo Can Factory Berhad, Independent Can Company, Ball Corporation , Crown Holdings, Inc, HUBER Packaging Group GmbH, SKS Bottle & Packaging, Inc, Ardagh Group and Can Smart(PTY) LTD. are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Metal Cans Market.
Metal Cans Market – Competitive Analysis
The key players adopted various strategies to retain and/or expand their market share. Key strategies followed by most companies within the global metal can market were expansion and new product development. Expansion is the key strategy adopted extensively by players to spread their geographical presence and achieve operational efficiencies. New product development is also a major strategy adopted by the major players in the global metal can market. This strategy is widely adopted to increase the number of offerings for the customer. New innovations to the technology of manufacturing desiccants also lead to new product developments.
Metal Cans Market – Segmentation
The Metal Cans Market can be segmented in to three key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Material - Aluminum, Steel, Tin
Segmentation by Type - 2-piece, 3 piece
Segmentation by Application - Food, Beverage and Others
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Metal Cans Market – Regional Analysis
Europe is expected to dominate the global metal cans market. Europe consistently introduces innovations in its design and packaging, which gives the product freshness and modernity as well as it contributes to the success of metal can.
Asia-Pacific is one of the largest consumer for metal can. Big retailers such as Wal-Mart are driving the FMCG companies to better the packaging of the products in order to appeal to the customers within their limited available shelf space.
Rest of the World includes countries such as Latin America, Middle East, Africa and many more. Metal can market is gaining popularity in such regions due to factor such as purchasing power, increasing disposable income and the economic growth.
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The global Metal Cans Market is estimated to reach USD 52.83 billion by 2020.
These metal can are robust and portable thus require less space and enable easy tracking.
Increased adoption of technological innovation and environmentally friendly products propelled the market growth significantly over past few years.
Download Free Sample Report @ https://www.millioninsights.com/industry-reports/metal-cans-market/request-sample The global metal cans market is expected to witness a remarkable growth over the next eight years due to increasing demand for the product.
Competitive market leading to product differentiation through sizes and innovative shapes is one of the major factors leading to the growth of beverage industry further leading the growth of metal can industry.
Key players in the global can market are CPMC Holdings Ltd., Amcor Ltd., Crown Holding Inc., Ardagh Packaging Group Plc., Crown Holdings Inc., Ball Corporation., Sonoco Phoenix Inc., Kian Joo Group, Rexam Plc.
Global Metal Cans Market Report Information by Material (Aluminum, Steel, and Tin), by Type (Two Piece Metal Can and Three Piece Metal Can), by Application (Food, Beverage, and Others) and By Region - Global Forecast till 2023.Market ScenarioMetal cans were first introduced in the beginning of the nineteenth century as metal packaging systems for alcoholic and non-alcoholic drinks.
One of the major advantages of recycling metal cans is that they reduce the CO2 emission and thereby, diminish the parent material usage.The metal cans market is majorly driven by the growing use of cans in food and beverage packaging, exclusively used in packaging of aerated and non-aerated beverages.
Beverage segment dominated the market in 2016 and is projected to be the fastest growing application over the next five years, as a result of their high-end application to pack alcoholic & non-alcoholic drinks and aerated & non-aerated beverages.Metal can package is a dynamic market with high competition among the major competitors.
The market mainly faces encounters due to unstable raw material cost and existence of auxiliary packaging material.
As the market has notable substitutes such as paper and plastic packaging, the suppliers’ bargaining power would be comparatively low, and buyers would relish high bargaining power control.
The growing impulsiveness regarding raw material prices aligned with environmental regulation accompanied with the production of metals is restraining the new entrants to enter the flourishing market.The Global metal cans market is expected to grow at ~ 3.5% CAGR during the forecast period.Global Metal Cans MarketThe global metal can packaging market has been divided into four prominent geographical regions, which are North America, Europe, Asia Pacific, and Rest of the World.
