Metal Can Industry: Applications in Food and Beverage Sector
Metal cans are containers that offer the
storage and distribution of various products including such as chemicals, food
& beverages, oil and so on. The Global
Metal Can Market is anticipated to grow at a CAGR of 3 % over
the forecast period (from 2016 to 2024). Various factors including
environmental benefits offered by these cans, like fast recycle rate and the
rising demands for canned food & beverages are expected to drive the global
market.
However, with the advent of High-Density
Polyethylene (HDPE) and Polyethylene Terephthalate (PET) in the packaging
industry, these cans lost their major share in the industry. Moreover, the
unstable prices of raw materials also pose a challenge to the market growth. By
focusing on fresh product development and innovations, the manufacturers can
ensure a considerable growth over the estimated years. The global market is
divided into products and regions.
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The products sector of the metal can market
includes soups, sports drinks, energy drinks, alcoholic beverages, carbonated
soft drinks, fruits, vegetables, miscellaneous foods. The beverages sector
dominated the global market and is further expected to grow at a CAGR of over
3.1 % during the forecast period. This can be attributed to its benefits such
as extended coolness and better protection from UV rays. In addition, product
differentiation and innovation in the sizes and shapes of metal cans is said to
spur the demand in the sector.
Geographically, North America dominated the
overall market in 2015 occupying over 31 % of the total market share. The
market is projected to witness a rapid growth on account of high consumption of
canned food & beverages in the region.
The APAC region is anticipated to experience
the fastest growth due to the rising disposable income levels along with the
increased preferences towards canned food products. The region is likely to
grow at a healthy CAGR of over 4.3 % over the estimated years.
The major companies in the global metal can
market are Amcor Ltd.; CPMC Holdings Ltd.; Ardagh Packaging Group PLC.; Siligan
Containers Corp.; Sonoco Phoenix Inc.; Crown Holdings Inc.; Ball Corp.; BWAY
Corp.; Rexam PLC.; and Kian Joo Group.
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