Metal Cans Market for Foods to Exhibit 2.40% CAGR between 2013 and 2019

2024-04-09 11:04:09 Business

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The report analyzes and forecasts the growth rate, market size, and drivers of the global metal cans market for foods. The report is titled ?Metal Cans Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.? It incorporates an analysis of the market dynamics and the general investment attractiveness of the metal cans market for foods for interested investors or companies. Key companies analyzed in the report include: Ball Corporation, Crown Holdings Inc., BWAY, Sonoco Phoenix, Inc., and AMCOR.

Transparency Market Research (TMR) has announced the publication of a new market study based on the metal cans market for foods. According to the report, the global metal cans market for foods is driven by the high demand from the food and beverages industry and is expected to reach a value of US$51.6 bn by 2019, rising from US$43.8 bn in 2012.

Metal cans are one of the safest and eco-friendly forms of packaging used for food storage. Metal cans are not only economical, but also provide innovative designing of food packaging, ensuring its place in the pantry shelf. Metal cans are beneficial in terms of extending the shelf life of food and offer protection against oxygen, light, moisture, and other food contaminants, thus becoming one of the most secure ways to ensure tamper-proof food packaging. These benefits of metal cans have made them popular in the food and beverages industry for storing food, beverages, and semi-liquid items, thus boosting the global metal cans market. Out of the many metals, steel and aluminum are the most popularly preferred metals used for packaging foods and beverages.

Metal cans have become increasingly popular for packing deodorants and hairsprays and are also used in the pharmaceuticals industry, driving the global metal cans market. Moreover, the high recycling rate of metal cans is expected to promote the growth of the global metal cans market.

Opportunities in the form of technological advancements and innovation are expected to broaden the global metal cans market. Easy-open lids, high-quality graphics on the cans, and the innovation of self-heating cans are anticipated to open up new paths for growth of the global metal cans market. Manufacturers are undertaking initiatives to improve the recycling rate of the cans and ensure that the cans are eco-friendly, opening new opportunities for the future.

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Fluctuation in the price of steel and aluminum is expected to dampen the global metal cans market. The other factor that can prove to be harmful for the growth of the metal cans market is the availability of alternatives such as paper and plastic for packaging.

Over 70% of the demand for metal cans in 2012 was from the beverages segment. Metal cans offer the advantage of providing prolonged coolness to the drinks, withstanding bacterial contamination, and also resisting ultraviolet rays effectively. Within the beverages segment, alcoholic beverages accounted for 40% of the global demand for metal cans in 2012. However, energy drinks, sports drinks, and nutritional drinks are expected to lead the beverages segment by 2019, owing to an increase in health and fitness awareness.

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