Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
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According to the report “Latin America Food And Beverage Metal Cans Market By Material (Aluminium, Steel), By Application (Food, Beverage), By Food Can Sub-Application(Fruits And Vegetables, Convenience Food, Pet Food, Meat And Seafood, Other Food Products), By Beverage Can Sub-Application( Alcoholic Beverages, Carbonated Soft Drinks, Sports And Energy Drinks, Other Beverages), By Beverage Metal Cans Type (2-Piece Cans, 3-Piece Cans), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, the Latin America Food and Beverage Metal Cans Market was worth USD 4.12 billion in 2016 and estimated to be growing at a CAGR of 3.28%, to reach USD 7.19 billion by 2021. The gaining reputation of this market can be credited to increased demand for processed and canned food and beverages and visual appeal of canned food and convenience for use.
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Due to advancements in technology to accompany the fast moving lifestyle canned foods have become popular. Canning is a mechanical process which preserves the food in an airtight metal container.
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Same way canned beverages are also processed. Canning enhances the shelf life and increases the portability.
Canned food shelf life ranges from 1-5 years while canned beverages have a shelf life of 3 months.
The primary driving factors for the growth of the market are increase in demographic population, increased consumption of canned food and beverages to account for the busy and modern lifestyles, increasing demand for easily accessible and transportable food, increased necessity to expand the shelf life of food and increasing number of pet owners demanding canned pet food. Nonetheless, the growth of market is slowed by presence of alternatives like plastic packaged food which is cost effective but has lesser shelf life.
The target audience for canned food and beverages are urban regions and developing regions. Also, Technological advancements in creating a cost effective manufacturing process holds great potential for the growth of market.
The Latin America Food and Beverage Metal Cans Market is broadly characterized into Material, Applications and sub-Applications. Based on Material – Aluminium and Steel.
Based on Application – Food and Beverages. Beverages metal can is further divided into type as 2-piece cans and 3-piece cans.
Based on Food can sub-Application – Fruits and Vegetables, Convenience Foods, Pet Food, Meat and Seafood, Other Food products. Based on Beverage can sub-Application – Alcoholic Beverages, Carbonated Soft Drinks, Sports and Energy drinks, Other Beverages.
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Based on geographical analysis the market is categorized into regions of Argentina, Brazil and Mexico. Brazil is leading this market with highest share owing to its population and Argentina is second.
Argentina is the fastest growing region due to its growing urban population and rapid lifestyle changes. Based on Applications Beverages is leading the market and growing rapidly.
Based on Material Aluminium Cans are dominating the market holding nearly 70% of share.
Some of the key players consisting metal refiners, metal sheet manufacturers, metal can manufacturers dominating the market include Crown Holdings, Ball Corporation, Silgan Holdings, Ardagh Group, CAN-PACK S.A., Kian Joo Group, CPMC Holdings, Kingcan Holdings Limited, Tetra Laval International S.A., HUBER Packaging Group; government bodies and regulatory associations like Food and Drug Administration (FDA), Environment Protection Agency (EPA), and various regional metal recycling associations.
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