The report, now available on ASDReports, "Food & Beverage Metal Cans Market by Type (2-piece, 3-piece), Material (Aluminum, Steel), Application (Beverages (Alcoholic, CSD, Sports & Energy Drinks), and Food (Fruits & Vegetables, Convenience Food, Pet Food, Meat & Seafood)) - Global Forecast to 2022", The market for food & beverage metal cans is projected to reach 551.38 Billion units in terms of volume by 2022, and USD 63.01 Billion in terms of value and CAGR of 3.6% by the same year.
The recyclable and reusable properties of metal cans, cheaper price of canned food, and hygiene offered by packaged food & beverage products are the factors driving the demand for food & beverage metal cans products.
Beverage segment is growing at a higher CAGR in the food & beverage metal cans market
On the basis of application, the metal cans market is segmented into food & beverage applications. The beverage segment dominated the food & beverage metal cans market and is projected to grow at a CAGR from 2016 to 2022, mainly due to convenient packaging, innovations in metal cans in terms of packaging, shapes & sizes, and recyclable properties of metal cans. Growing demand for specialty cans for energy drinks, beer, ready-to-drink, carbonated soft drinks, and juices drive the growth of the overall metal cans market.
Fruits & vegetables: The most widely used sub-application of food metal cans market
In 2015, the fruits & vegetables segment accounted for the largest share in the food metal cans market in terms of volume and is projected to grow at a competitive CAGR from 2016 to 2022. Packaging of fruits has gained importance in the global food packaging market. Technological innovations have found an alternative source for the intake of fruits during off-seasons. Canned technology helps in preserving the nutritional value of fruits by providing an extended shelf-life, which is expected to drive their demand.
Asia-Pacific is projected to be the fastest-growing region in the food & beverage metal cans market
Asia-Pacific is projected to be the fastest-growing market for food & beverage metal cans due to booming economy with a large population base ready to spend on processed food & beverages, and rapidly growing consumer markets of China, India, and Japan. In this region, beverage metal cans are majorly used in carbonated soft drinks, whereas food metal cans are majorly used to pack fruits & vegetable products.
This report studies marketing and development strategies, along with the product portfolio of leading companies such as Crown Holdings, Inc. (U.S.), Ball Corporation (U.S.), Silgan Holdings Inc. (U.S.), Ardagh Group (Luxembourg), and CAN-PACK S.A. (Poland). Other players include Kian Joo Group (Malaysia), CPMC Holdings Limited (China), Kingcan Holdings Limited (China), Tetra Laval International S.A. (Switzerland), and HUBER Packaging Group GmbH (Germany).