According to TechSci Research report, “Food & Beverage Metal Cans Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Food & Beverage Metal Cans Market stood at USD32.34 billion in 2022 and is anticipated to grow with a CAGR of 6.73% in the forecast period, 2023-2028. The initiatives taken by government based on food & beverage metal cans has led to favorable market conditions for the Global Food & Beverage Metal Cans Market. Several factors contribute to the growth of various food & beverage metal cans products.
In the Middle East and North Africa (MENA) region, there is an innovative and impactful initiative called Every Can Counts (ECC) that aims to promote and raise awareness about the recyclability of metal cans among consumers. ECC works tirelessly to educate and engage individuals about the importance of recycling and its positive impact on the environment. This commendable initiative has garnered strong support from the government, showcasing their unwavering commitment to encouraging sustainable practices within the food and beverage sector.
Similarly, in the United States, there has been a noticeable surge in the utilization of metal cans within the food and beverage industry. This growing trend can be attributed not only to the inherent advantages of metal cans, such as superior quality and safety standards, but also to the concerted efforts of government initiatives and the unwavering support of environmentally conscious consumers. These initiatives and consumer-driven movements have played a pivotal role in promoting the widespread adoption of metal cans as a sustainable packaging solution, further solidifying their significance in the realm of food and beverage packaging.
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The demand for canned drinks is steadily rising as it becomes a popular trend among beverage consumers. People are seeking more than just hydration from their drinks – they want stress relief, immune system health, and beauty benefits. Canned soft drinks not only provide these added benefits but also showcase a sense of better health awareness with their attractive packaging. The convenience of consuming and disposing of these drinks in metal cans further contributes to their appeal. As a result, canned beverages play a significant role in driving the growth of the food and beverage metal cans market.
The Global Food & Beverage Metal Cans Market is segmented into material, application, regional distribution, and company
Based on its application, the beverage segment held the largest share in the market. The beverages segment is further categorized into a wide range of options, including alcoholic beverages, carbonated soft drinks, fruit and vegetable juices, and new drinks. Each of these sub-categories offers unique flavors and experiences, catering to diverse consumer preferences.
The largest share of the beverage segment can be attributed to several factors. One key factor is the cost-effectiveness of these products, providing consumers with affordable and enjoyable options. Additionally, the use of environment-friendly packaging solutions for food and beverages has also contributed to the growth of this segment. These sustainable packaging solutions not only reduce environmental impact but also resonate with the increasing consumer demand for eco-friendly choices.
Based on region, Asia Pacific segment is expected to grow during the forecast period.
The large consumer market and the rising disposable income in countries such as India and China are expected to fuel the growth of the demand for high-quality metal packaging in the region. As these economies continue to develop and urbanize, there is an increasing preference for durable and sustainable packaging solutions. This trend, coupled with the growing awareness of the importance of metal packaging in preserving product quality and reducing food waste, further contributes to the surge in demand. The metal packaging industry is poised to benefit from these factors, as it continues to cater to the evolving needs of consumers in this dynamic market.
Major companies operating in Global Food & Beverage Metal Cans Market are:
- Ball Corporation
- Silgan Holdings Inc.
- Tetra Laval International S.A.
- Kian Joo Can Factory Berhad
- Huber Packaging Group GmbH
- Crown Holdings, Inc.
- Ardagh Group SA
- CAN-PACK S.A.
- CPMC Holdings Ltd
- Kingcan Holdings Limited
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“Growing application of food & beverage metal cans in various end user industries are key drivers of the food & beverage metal cans market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of food & beverage metal cans with every passing year are anticipated to register an impressive growth to Global Food & Beverage Metal Cans Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Food & Beverage Metal Cans Market By Material (Aluminium Cans, Steel Cans), By Application (Food, Beverage), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Food & Beverage Metal Cans Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Food & Beverage Metal Cans Market.
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