Food & Beverage Metal Cans Market to Grow with a CAGR of 6.73% through 2028
Growing demand for carbonated soft drink cans is expected to drive the Global
Food & Beverage Metal Cans Market growth in the forecast period, 2024-2028.
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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