The Food & Beverage Metal Cans Market
is expected to grow at a considerable CAGR on a world scale, over the forecast
period. It has seen a linear growth since the past two decades. Increasing raw
material costs and several disruptive innovations in the metal can manufacture
industries helped in triggering positive shift in market dynamics. The improved
manufacturing processes led to less production cost, while the simultaneous
increase in demand from emerging markets reaped manifold profits for the
suppliers. Key driver for this market is the convenience in shapes & sizes,
various applications, and overall hygiene compared to its alternatives. The
rising demand for recycled metal cans is also driving this market
exponentially. Canned foods are marketed with novel packaging, have added nutrients,
and priced reasonably; which is proving to be conducive for market growth.
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| Food & Beverage Metal Cans Market |
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Frequent product innovations and burgeoning demand in
developing nations will open new avenues for this market on the forecast
horizon. On the other hand, factors like prerogative given to plastic
packaging, immense competition for recycled cans, and strict regulations
pertains to the use of Bisphenol – A are restraining market growth. Mature
markets in developed countries, perpetually increasing costs of raw materials
and the impending threat of plastics completely replacing metal cans is
challenging the market growth. Regulations pertaining to food & metal cans
include Food Safety and Standard Authorities of India (FSSAI), EPA, EU and
Nordic Guidelines, and US FDA. The market ecosystem consists of metal sheet
manufacturers, metal refiners, metal can manufacturers, regulatory authorities,
recycling associations, suppliers and distributors, and finally the end users.
It is thus a horizontal market with various downstream vertical businesses.
The food & beverage metal cans market is segmented on
the basis of application, material, can type, and the geographical region. The
segments based on application are food and beverages. These are further
classifies as meat & seafood, fruits & vegetables, pet food,
convenience food, and other food products. The beverages segment is categorized
as carbonated soft drinks, alcoholic beverages, sports and energy drinks, and
other beverages. Manufacturing materials are steel and aluminum. The can types
include 2-piece cans and 3-piece cans. The geographical regions for this market
are Asia Pacific, Europe, North America, and Rest of the World (RoW).
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The beverages segment currently leads the market and is
projected to dominate in the forecast period too. This can be attributed to the
rise in demand for customized cans for alcoholic drinks, energy drinks,
carbonated soft drinks, and juices. On the other hand, metal cans for fruits
& vegetables are expected to reach the high water mark in terms of CAGR
over the forecast period, as canned fruits & vegetables have better shelf
life. Aluminum is expected to be in great demand for canning technology in the
forecast period owing to superior properties like chemical inertness, better
resistance to corrosion, impermeability, and lighter weight. While 2-piece cans
segment is growing at a phenomenal CAGR.
North America currently holds the largest market share due
to high demand for carbonated soft drinks, stress on reusable properties of
metal cans, and the stronghold of an organized retail sector. But, Asia Pacific
region is deemed to dominate in the forecast period, due to the rising spending
capacity of consumer base in emerging economies, including India, Japan, and
China. Key players in the food &
beverage metal cans market are CPMC, CAN PACK, Crown Holdings, Ardagh Group,
Kian Joo Group, Ball Corporation, Silgan Holdings Inc, Tetra Laval
International SA, Kingcan Holdings Ltd, Huber Packaging Group GmBH, Toyo Seikan
Kaisha Ltd, Rexam Plc, Sonoco Products Company, Alcoa Inc, Prominent players
have adopted M&A activities for linear market growth, latest being the
acquisition of Rexam Plc by Ball Corporation in June 2016.
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