Increasing demand for canned food and beverages coupled with increasing demand for ready to eat food are the key factor expected to drive the market over the forecast period. Rapid growth in foods & beverages industry across the globe is further expected to augment the market growth in near future. Metal cans have ability to get chilled faster and remains cool for longer period compared to other conventional materials. This advantageous factor increased the application scope of metal cans over the past few years and the trend is expected to continue over the forecast period. Metal cans demand is expected to increase owing to its high recyclable properties. However, fluctuations in raw material prices coupled with increasing demand for substitutes in end-use applications is expected to hinder the market growth over the next five years.
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Steel and aluminum are the basic raw materials used in manufacturing metal cans. Aluminum cans are extensively used in beverages packaging application including alcoholic beverages, soft drinks, sports & energy drinks and fruits and vegetable juices whereas steel cans are used in food packaging application including vegetables & fruits, pet foods, convenience foods and meat & sea food. These materials possess high durability and longer shelf-life. This advantageous factor is the key factor to drive global metal cans market. Aluminum is the widely used raw material in metal cans owing to increasing demand from beverages packaging application over the past few years and the trend is expected to continue over the next five years. However, Steel is losing its market share slowly owing to increasing demand for substitute materials for food packaging.
Major applications of metal cans include foods, beverages and others including aerosol sprays and paints among others. Application of metal cans in food industry include packaging of fruits, vegetables, baby food, sea food and meat, soups and poultry among others. Metal cans provide numerous advantages in refrigeration applications. This advantageous factor increased the metal cans application in beverages packaging.
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Beverages packaging was the largest and fastest growing application segment of metal cans market over the past few years and the trend is expected to continue over the forecast period. Metal cans acquire less space and provide advantages during warehousing and transportation. Strong growth in beverages industry is further expected to augment the market growth in near future. Within beverages industry, alcoholic beverages holds the largest market share followed by carbonated soft drinks. Growth of these beverages is expected to surge the market growth over the forecast period. Food industry is the second major market for metal cans and it is expected to lose its market share in near future owing to increasing demand for alternate packaging material. Niche applications such as aerosol sprays and paints hold less portion of market share and expected to witness considerable growth over the foreseeable period.
North America and Europe are the largest regional markets for metals cans over the past few years on account of numerous presences of end-use industries in these regions. However, these regions are expected to witness sluggish growth owing to market saturation in end-use industries. Asia Pacific was the third largest market for metal cans and has been witnessing the fastest growth over the past six years. This trend is expected to continue over the next five years on account of strong
growth in foods & beverages industries in India and China.
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Key players in metal cans market include Amcor Limited., Sonoco-Phoenix Inc., Ardagh Group, Crown Holdings Inc., BWAY Corp., CPMC Holdings Ltd., Rexam Plc and Kian Joo Group.
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