(I-BusinessNews.Com, November 25, 2020 ) According to MarketsandMarkets, the global food & beverage metal cans market is estimated to be valued at USD 27.6 billion in 2020 and is projected to reach USD 37.0 billion by 2025, recording a CAGR of 6.1%. The high recyclable rates of aluminum and the rising number of health-conscious consumers and increasing awareness about healthy nutrients in food & beverages have led to the demand for metal cans. The rise in awareness regarding the drawbacks of using single-use plastics and government intervention in banning the use of such plastics that affect the environment adversely has significantly driven the growth of the metal packaging market for food & beverages.
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Key players in this market include Crown Holdings, Inc (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), CAN-PACK S.A. (Poland), Kian Joo Group (Malaysia), CPMC Holdings Limited (China), Huber Packaging Group GmbH (Germany), CCL Industries (US), Toyo Seikan Group Holdings Ltd (Japan), Universal Can Corporation (Japan), Independent Can Company (US), Mauser Packaging Solution LLC (Germany), Visy (Australia), Lageen Food Packaging (Israel), Massilly Holding S.A.S (France), P. Wilkinson Containers Ltd. (UK), Unimpack (The Netherlands), MÃƒÂ¼ller und Bauer GmbH (Germany), and Allied Cans (Canada).
Crown Holdings, Inc (US) is a key supplier, offering products for food & beverage metal packaging. Its operations focus on making it a specialty metal packaging company, which is growing sustainably by incorporating new foundational platforms into its own technologies. It is pursuing competitive superiority by creating demand and by developing high-value-added and customized products based on client requirements.
In 2018, the company acquired Signode Industrial Group Holdings (Illinois) Ltd., a leading global provider of transit packaging systems and solutions. This acquisition helped the company to strengthen its geographic reach and market position in the US.
Ball Corporation (US) is a public registered company headquartered in the US and one of the leading developers, manufacturers, and distributors of metal packaging. The company works in collaboration with the brands and retailers, and packaging manufacturers to design circular economy solutions to maintain its market position.
By material, the aluminum segment is projected to account for the larger share in the food & beverage metal cans market
The aluminum segment is projected to dominate the market, on the basis of material, during the forecast period. This is attributed to the cost-effectiveness and recycling rates of aluminum. Increasing the use of metal packaging for food & beverages packaging provides a sustainable and environment-friendly solution for packaging in multiple applications. Aluminum cans are convenient to keep in refrigerators and ovens. Changes in consumer preferences are observed for food & beverage packaging. According to the Environmental Protection Agency of the United States (EPA), 1.9 million tons of aluminum packaging was generated for beers and soft drink cans, and 49.2% of aluminum beverage cans were recycled. The metal packaging for the food industry is considered to be safe, which is one of the major factors to support its growth in the market.
The Asia Pacific region is projected to witness the fastest growth during the forecast period
The Asia Pacific food & beverage metal cans market is projected to have higher growth potential in the coming years. A large consumer market and increasing disposable income in India and China are driving the growth of the demand for high-quality metal packaging. Also, China is the hub for the manufacture of metal cans and has sufficient manufacturing plants to meet the demand for food & beverage metal packaging. Moreover, rapid urbanization in countries such as India and China are expected to result in high growth of the food & beverage metal cans market in Southeast Asia during the forecast period.
This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies. It consists of the profiles of leading companies such as Crown Holdings, Inc (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), CAN-PACK S.A. (Poland), Kian Joo Group (Malaysia), CPMC Holdings Limited (China), Huber Packaging Group GmbH (Germany), CCL Industries (US), Toyo Seikan Group Holdings Ltd (Japan), Universal Can Corporation (Japan), Independent Can Company (US), Mauser Packaging Solution LLC (Germany), Visy (Australia), Lageen Food Packaging (Israel), Massilly Holding S.A.S (France), P. Wilkinson Containers Ltd. (UK), Unimpack (Netherlands), MÃƒÂ¼ller und Bauer GmbH (Germany), and Allied Cans (Canada).
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