Metal cans are mainly types of metal packaging components initially introduced at the onset of the nineteenth century. It was initially used for wine packaging, but later its application expanded into several end use industries such as chemicals, oil, and food and beverage products, among others. Metal cans mainly made of materials such as tin, aluminum, and steel and further constitutes of over one third of the total metal packaging market. The global metal cans market is expected to foresee substantial growth in the coming years owing to the rising use of these can in the packaging of food and beverages, mainly in the packaging of non-aerated and aerated beverages. The rise the portfolio of personal products is expected to naturally augment the global metal cans market.
The demand for metal cans is rising subsequently owing to the fact that they are completely recyclable without losing the sturdiness and quality of the product. The demand from consumers for lightweight packaging and the rising awareness pertaining to the use of packaging materials that are non-carcinogenic, are further expected to propel the demand for metal cans. However, the rising rate of replacement prospects seen in materials which are based on polymer such as polyethylene and PET might act as a roadblock in the progress of the market.
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The new research report on metal cans published by Future Market Insights (FMI) provides a comprehensive overview of the global market and presents a trajectory of the market in terms of historical, present, and future forecast. The report also offers an outlook of the competitive landscape of the market along with presenting insights on the basis of the product portfolio, strategies, mergers, acquisitions, and other important aspects pertaining to them. A segmental overview along with regions has also been provided in the report. According to FMI, the global metal cans market is expected to rise at a CAGR of 4.8% 2017 to 2026.
North America and Europe to Give Close Competition to APEJ
On the basis of region, the global metal cans market has been segmented into North America, Europe, Latin America, Asia Pacific except Japan, and Japan, the Middle East and Africa. Amongst these, Asia Pacific except Japan (APEJ) is expected to lead the global market by the end of the forecast period with a valuation of over US27, 456 Mn. This growth can be attributed to the rising population in the region and the growing urgency to cater to their increasing needs. The setting up of new manufacturing units in the region is also expected to be one of the triggering factors for the market in the region. North America and Europe are expected to closely follow APEJ and also have a neck to neck competition. However, these regions are expected to exhibit a sluggish growth rate as compared to APEJ.
Food and Beverages to be Leading End-use Industry
Based on end user, the market has been segmented into, food and beverages, pharmaceutical industry, consumer goods, and chemical. The leading end user among these is likely to be the food and beverages industry by the end of the forecast period. The growing need for innovative, inexpensive, and sustainable packaging in the food and beverages industry is expected to fuel the use of metal cans there. On the basis of material type, aluminium is expected to be the most preferred metal among all the metals used for the manufacturing of metal cans.
The admittance of new players in the market among personal care and food and beverage products is expected to intensify the competition in the years to come. Moreover, the present and new players’ focus of innovative packaging is likely to be a lucrative strategy to capitalize on. The companies operating in the market are Silgan Containers LLC, Rexam PLC, Crown Holdings, Inc., Independent Can Company, and SKS Bottle & Packaging, Inc., among others.
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