Demand for metal packaging set to grow
The reports says that long-term growth is expected to primarily emanate from the emerging markets of Asia, Latin America, Eastern Europe, Africa, and the Middle East.
These markets continue to spell growth opportunities owing to increasing urbanisation, internationalisation, growing disposable incomes of consumers and low penetration of beverage cans. The recent years have also witnessed beverage can manufacturers investing in joint ventures, new facilities, and capacity expansions in the attractive markets of South East Asia and South America to meet the growing consumer demand. Segment-wise, metal cans, comprising aluminum and steel cans, represents the largest product segment. Beverages represent the largest end-use segment in volume terms.
According to the report, growth in the market is likely to be driven by recovery in consumer spending patterns and innovations in product design and technology advancements. Expansion of end-use application markets and increased demand from emerging markets is expected to further foster growth in market volumes.
Amidst the competitive pressures from alternative materials including plastics and paper, growth in the metal cans market continues to be shaped by innovations in packaging designs and shapes that reflect easy handling and environmental safety. One of the primary market drivers for the market is expected to be the impressive growth rates of the beverage industry. Craft beer breweries have been adding cans into their packaging mix to stimulate sales. Growth is also prominent in the sports and health drinks sector, as well as other categories such as energy drinks, juices, flavoured water, and ice teas.
The research report titled ‘Metal Cans, Barrels, Drums and Pails: A Global Strategic Business Report’ provides a review of trends, issues, strategic industry activities, and profiles of major companies worldwide.
For further information visit www.strategyr.com/Metal_Cans_Barrels_Drums_and_Pails_Market_Report.asp