Research and Markets releases latest Food & Beverage Metal Cans Market report
Research and Markets has released its latest Food & Beverage Metal Cans Market research report, which offers an in-depth insight into the market until 2025.
Some of the report highlights are as follows:
The food and beverage metal cans market is projected to grow at a CAGR of 6.1% in terms of value.
The report highlights that the global food and beverage metal cans market is estimated to be valued at $27.6 billion in 2020 and is projected to reach $37.0 billion by 2025, recording a CAGR of 6.1%. Factors such as the growing demand for ready-to-eat snacks and canned food and beverages across the globe are associated with the growth of the metal cans market in the food and beverage industry.
By material, the aluminium segment accounted for the larger share in 2018.
The aluminium segment accounted for a major share in the global food and beverage metal cans market, on the basis of material, in 2018. Aluminium is a very cost-effective raw material used in the food and beverage industry; due to its lightweight and impermeable properties, and high flexibility, it is an optimal material for packaging.
By degree of internal pressure, the pressurised can segment in the food and beverage metal cans market is estimated to account for the larger share.
Based on the degree of internal pressure, the food and beverage metal cans market is segmented into pressurised cans and vacuum cans. The pressurised cans are estimated to account for the larger share of the food and beverage metal cans market, because of their high usage in the beverage industry. Pressurised cans are lightweight and reduce the cost of logistics, therefore driving the market for beverage cans. These cans are suitable for the packaging of carbonated and non-carbonated beverages such as beer, wine, sports drinks, and fruit juices.
North America accounted for the largest share in the food and beverage metal cans market, due to the higher acceptability and growing awareness toward sustainability issues.
Research and Markets states that the food and beverage metal cans market in the North America region is largely driven by growing consumer awareness toward environmental sustainability. North America is among the biggest consumers of aluminium cans and is mainly dominated by a large number of consumers for packaged food and beverages in the world. Strong investment in R&D and technological advancements are reportedly expected to have a positive impact on the domestic production of food and beverage metal cans in North America.
Companies mentioned in the Research and Markets report include Allied Cans, Ardagh Group, Ball Corporation, Can-Pack S.A, CCL Container, CPMC Holdings Limited, Crown Holdings, Inc, Huber Packaging Group, Independent Can Company, Kian Joo Group, Lageen Food Packaging, Massilly Holding S.A.S, Mauser Packaging Solutions, Muller And Bauer Gmbh, P. Wilkinson Containers Ltd, Silgan Holdings Inc, Toyo Seikan Group Holdings, Ltd, Unimpack, Universal Can Corporation and Visy.
For more information, visit: Food & Beverage Metal Cans Market – Global Forecast to 2025.