According to Market Research Future (MRFR), the global metal cans market is estimated to grow at a CAGR of 3.5% from 2017 to 2023 (forecast period). The report addresses the strengths, opportunities, challenges, and potential business risks and provides an extensive overview of the global market situation with the results of COVID-19.
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Metal cans were first introduced as metal packaging systems for alcoholic and non-alcoholic beverages at the beginning of the nineteenth century. As technology progressed, its scope of application grew to a range of end-use commodity packaging purposes, like chemicals, edible food & beverage items, and oil. Steel cans are mainly made up of materials such as aluminum, steel, and tin, which make up almost one-third of the metal packaging industry. The metal cans are lightweight and easy to stack. The biggest advantage of metal cans is that they are 100% recyclable without degrading the quality and sturdiness of the material. The current recycling rate of metal can be approximately two and a half times higher than any other subordinate packaging solution. One of the key benefits of recycling metal cans is that they eliminate CO2 emissions and thus reduce the use of parent materials.
Market Dynamics
The market for metal cans is primarily driven by the increasing use of cans in food and beverage packaging, exclusively used in the packaging of aerated and non-aerated beverages. The tremendous growth in personal care products and their widespread use will increase the packaging market. Increased consumer demand for non-carcinogenic packaging materials generates high opportunities for the metal cans industry due to rising health consciousness and light packaging. However, the growing potential of polymer-based packaging materials like polyethylene and polyethylene terephthalate (PET) packaging is expected to increase the market share of metal cans in the overall packaging market during the forecast period.
Global Metal Cans Market – Segments
The report is segmented into types, materials, applications, and regions. The material segment is sub-segmented into aluminum, steel, and tin. Of these, the aluminum segment accounts for the largest market share due to the growing use of aluminum. The type segment is sub-segmented into two-piece metal cans and three-piece metals cans. The application segment is sub-segmented into food, beverage, and others. The region segment is sub-segmented into Europe, APAC, Americas, and the rest-of-the-world.
Metal Cans Market – Geographical Analysis
The Asia Pacific region dominates the global metal cans market. Factors such as the hugely increasing consumption of metal cans across end-use industries and various government initiatives to establish consumer-oriented industries drive the market growth. Besides, high investments by manufacturers in product development and expanding their footprints in developing economies substantiate the market size.
The rise in the food & beverage industry across the region propels the market revenues. Moreover, rising exports of various exotic drinks and the growing e-commerce industry in the region foster the market shares. China and India are major markets for metal cans in the region, providing increasingly lucrative opportunities. The APAC metal cans market is likely to retain its dominance throughout the forecast period.
Global Metal Cans Market – Competitive Analysis
Fiercely competitive, the metal cans market appears fragmented, with several well-established players forming a competitive landscape. These players incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product/technology launch to gain a significantly larger competitive share.
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Major Players:
Players leading the global metal cans market are Silgan Containers LLC (US), Rexam plc (UK), Kian Joo Can Factory Berhad (Malaysia), Ball Corporation (US), Independent Can Company (US), Crown Holdings, Inc. (US), SKS Bottle & Packaging, Inc. (US), HUBER Packaging Group GmbH (Germany), Ardagh Group S A (Luxembourg), Berlin Packaging (US), The Cary Company (US), Allied Cans Limited (Canada), Allstate Can Corporation (US), CPMC Holdings Limited (China), and Kaira Can Company Limited (India), among others.
Industry/ Innovation /Related News:
September 01, 2021 --- Ardagh Group, a glass, and metal packaging giant, announced its plans to launch an offer to allow investors to swap their stock for its beverage cans unit. The company is set about securing a separate listing for its drinks cans unit, taking advantage of the high valuations being put on assets in this area of the industry. The company said that the aim is to eliminate the inefficiencies resulting from having two publicly traded companies with separate stock market reporting obligations.
Read more related insights:
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