Metal Cans Market share: 2021 Strategic Assessment, Research, Region, Share and Global Expansion by 2027
Growing Demand for Alcoholic, Nonalcoholic Beverages to Drive Metal Cans Market
The global metal cans market share is expected to exhibit a stable 3.5% CAGR over the forecast period till 2023, according to the latest research report from Market Research Future (MRFR). The global metal cans market is studied in great detail in the report, which includes a detailed analysis of the market’s historical growth trajectory and present condition. Major trends operating in the global metal cans market are examined in the report. Based on this information, accurate and reliable projections for the market’s likely growth trajectory over the forecast period till 2023 are presented in the report. Leading drivers and restraints operating on the global metal cans market are examined in the report. The impact of these major drivers and restraints on the global metal cans market is examined in detail in the report. Thus, the major factors enabling the market’s growth are enlisted and profiled in the report. Leading players operating in the global metal cans market are also profiled in the research report. The competitive landscape of the global metal cans market is thus examined in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global metal cans market.
Metal cans were brought in the nineteenth century to package beverage, including alcoholic and nonalcoholic beverages. The nonreactive nature of metal with regard to alcoholic beverages makes metal cans a suitable packaging method for alcoholic beverages, which were becoming widely popular in Europe and North America in the nineteenth century. The growing demand for alcoholic beverages and the nascent nature of the field of globalization meant sturdy, robust means of packaging, storing, and transporting beverages were needed. This made metal cans a highly attractive proposition, with many new manufacturers springing up to cater to the growing demand for packaged beverages. The growing trade in beer and other alcoholic beverages in the nineteenth and twentieth centuries led to further growth of the metal cans market at a robust growth rate. This is likely to remain a major driver for the global metal cans market over the forecast period. The rising demand for fruit juices and other nonalcoholic beverages is also likely to be a major driver for the global metal cans market over the forecast period.
On the other hand, the growing use of plastic cans made from polyethylene and polyethylene terephthalate (PET) is likely to be a key restraint on the global metal cans market. While metal cans remain a suitable packaging material for most foods and beverages, some acid-rich products may react with the material of metal cans, causing undesirable consequences in the formulation of the product. Plastic cans are also resistant to rusting, which is another key driver for the plastic cans market.
Competitive Leaderboard:
Leading players in the global metal food cans market include CPMC Holdings Ltd., Allied Cans Ltd., Allstate Can Corporation, The Cary Company, Kaira Can Company Ltd., Berlin Packaging, Ardagh Group SA, SKS Bottle & Packaging Inc., HUBER Packaging Group GmbH, Crown Holdings Inc., Ball Corporation, Independent Can Company, Kian Joo Can Factory Berhad, Silgan Containers LLC, and Rexam plc.
Segmentation:
The global metal cans market is segmented on the basis of material, type, application, and region.
By material, the global metal cans market is segmented into aluminum, steel, and tin.
By type, the global metal cans market is segmented into 2-piece and 3-piece.
By application, the global metal cans market is segmented into food, beverages, and others.
Regional Analysis:
North America and Europe are the dominant regional markets for metal cans and are likely to retain their dominance over the forecast period due to the growing demand for canned food and beverages in the region. Canned food has become a staple in North America and Europe, where the urban lifestyle leaves consumers with little time to prepare food from scratch, leading to a growing dependence on canned food and beverages. This is likely to remain a key driver for the global metal cans market over the forecast period.
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