The Global Food and Beverage Metal Cans Market was worth USD 50.96 billion in 2016 and estimated to be growing at a CAGR of 3.6%, to reach USD 60.82 billion by 2021.
The gaining importance of this market can be attributed to increased demand for processed and canned food and beverages and visual appeal of canned food and convenience for use.
The main drivers for the growth of the market is 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. However, the market is hindered 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.
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Global Food and Beverage Metal Cans Market Segmentation:
The Global Food and Beverage Metal Cans market is broadly categorized 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.
Based on geographical analysis the market is categorized into regions of North America, Asia Pacific, Europe, Latin America and Middle East and Africa. Asia Pacific is leading this market with highest share and North America is second.
Asia Pacific is also the fastest growing region due to its growing urban population and rapid lifestyle changes in developing countries. 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), European Food Safety Agency (EFSA), Codex Alimentarius, Food Safety and Standards Authority of India (FSSAI), and Food Safety Australia and New Zealand (FSANZ), and various regional metal recycling associations.
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