Canned Food Packaging Market Synopsis
Food packaging is defined as a coordinated system of preparing food for transport, distribution, storage, retailing, and end-user to satisfy the ultimate consumer with optimal cost. The global packaging market is constantly evolving and is expected to witness a high growth over the forecast period. Moreover, the development of new and diversified packaging styles and high potential in emerging economies providing huge growth opportunities for canned food consumption are creating exciting opportunities within the packaging industry.
Canned food packaging is predicted to grow at a CAGR of 4.01% in retail volume during the forecast period due to increasing urbanization, rising disposable incomes, and growing demand for convenient products. Higher disposable incomes of middle-class consumers and high growth of modern retail are other factors driving the growth of the canned or preserved food.
Get Sample Report with Complete TOC @ https://www.marketresearchfuture.com/sample_request/5106
Canned foods play an important role in the global food market. Convenience, easier opening, resealable and so on are driving the market growth. It can be preserved for months and continuing a trend toward cheap alternatives to chilled and frozen packaging. While offering the advantages of a long shelf-life and low prices, canned food suffers from a poor consumer perception of its healthiness and taste quality. Due to the growing consumer interest in consumption of fresh products with extended shelf life, manufacturers have to provide modern and safe packaging.
It is a challenge for the food packaging industry and also acts as a driving force for the development of new and improved concepts of technology packaging. Therefore, packaging producers are looking for solutions that allow improving such properties of packaging materials as an adequate barrier to gases, UV protection, and extension of the storage period, transparency, and environmental performance. A recent study shows that worldwide sales within the canned food market are forecasted to reach nearly USD 50 billion over the forecasted period.
The key players of global canned food packaging market include :
- Amcor Ltd. (Australia)
- Ardagh Group (Luxembourg)
- CPMC Holdings Ltd. (China)
- Crown Holdings (U.S.)
- Grief Incorporated (U.S.)
- Silgan Holdings Inc. (U.S.)
- Rexam Plc. (U.K.)
- Toyo Seikan Kaisha Ltd. (Japan)
- Ball Corporation (U.S.)
- Huber Packaging (Germany)
As the competitive landscape of the report, there was a study of the growth strategies adopted by the companies between 2016 and 2021. The key players adopted various strategies to achieve operational efficiencies. The key strategies followed by the most companies in the global canned food packaging market are mergers & acquisitions, winning new projects, new product innovations, and expansion.
Market Research Analysis:
The global canned food packaging market is dynamic and is expected to witness a high growth over the forecast period. The canned food packaging market is driven by the recyclable and reusable properties of the cans, nutritional value and hygienic food process. growth in the busy schedules and hectic lifestyle, increase in the demand for the packaged or processed food, and availability of various convenient food option such as ready to eat, ready to cook, ready to serve and ready to heat are expected to propel the growth of global canned food packaging market.
Early Diners Are Offered Free Customization- Up to 20%
Get Attractive Discount @ https://www.marketresearchfuture.com/check-discount/5106
The global canned food packaging market is undergoing various changes with evolving customer expectations such as availability in small sizes, acceleration of technological innovation, and shifts in competitive power. The market is segmented on the basis of material it includes metal, steel, aluminum, and others. Moreover, by type of food product, it is segmented readymade meals, meat, and seafood.
Geographically, Asia Pacific region is anticipated to be the fastest growing market for canned food packaging during the forecast period.
North America and Europe are the leading cans market owing to the high consumption of canned beverages and processed food. However, their markets have been saturated and are hence expected to grow at a slower rate. Currently, Asia Pacific is expected to be a leading market player and is likely to dominate the market during the forecast period. Developing economies like India, China, and Brazil have changed their buying patterns by purchasing more packaged foods will help to grow the market. The easy availability of raw material and labor in China makes it one of the beneficial regions for setting up of manufacturing facilities. Moreover, inclination towards long shelf-life and low prices fueling the market for canned food packaging. Demand for beverages, continuing a trend toward cheap alternatives to chilled and frozen meat has been increasing in the Asia Pacific region majorly due to the changing lifestyle and the increasing purchasing power.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
Ask for your specific company profile and country level customization on reports.
Get More Information on Canned Food Packaging Market Research Report – Global Forecast Till 2023 @ https://www.marketresearchfuture.com/reports/canned-food-packaging-market-5106
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar