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.
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 over 4.8% 2021 to 2031.
Segmental Insight on the Global Metal Cans Market
On the basis of region, the global metal cans market has been segmented into North America, Latin America, Europe, Japan, Asia Pacific except Japan, and 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. 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.
Based on the basis of material type, the global market for metal cans has been classified into aluminium, steel, and tin. Among these three, aluminium is going to emerge as the most popular metal used in packaging over the coming years.
On the basis of fabrication type, the market has been bifurcated into two piece can and three piece can. Two piece can is projected to exhibit a higher CAGR as compared to the other and also emerge dominant by 2031 end.
In terms of application, the market has been segmented into alcoholic beverages, non-alcoholic beverages, processed dairy food products, other processed food products, edible oil, medicinal tablets and syrups, personal care and cosmetic products, and industrial chemicals. Among all these, alcoholic beverages will foresee a growing application of metal as compared to the other application areas and is also expected to lead the market by the end of the forecast period.
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 entry 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 Rexam PLC, Silgan Containers LLC, Independent Can Company, Crown Holdings, Inc., and SKS Bottle & Packaging, Inc., among others