Metal Cans Market Growth | Size, Industry Growth, Application, Share, Future Opportunity Outlook 2027
Global Metal Cans Market: Synopsis
The report published by Market Research Future (MRFR) states that the global Metal Cans Market Growth is marked to expand moderately at a CAGR of 3.5% during the forecast period. Metal cans are extensively utilized in food and beverages industry for packaging of food materials as well as alcoholic and nonalcoholic beverages. Rapid expansion of food and beverages industry and high demand from consumers for packaged foods and drinks are majorly fueling the expansion of the global metal cans market during the assessment period. Increased consumption of canned food and focus towards utilization of recyclable packaging materials are also propelling the expansion of the global metal cans market. However, availability of alternative packaging materials is restraining the growth of the global metal cans market during the forecast period.
Global Metal Cans Market: Market Segmentation
The global metal cans market growth has been segmented on the basis of material, Types Of Cans
, application, and region. Based on material, the global metal cans market has been segmented into aluminum, steel, and tin. The aluminum segment commands the dominant share of the global metal cans market owing to the high utilization of aluminum due to its light-weight and non-reactive nature towards all kinds of beverages and food items. Based on type, the global metal cans market has been segmented into two piece metal can and three piece metal can. The two piece metal can segment commanded for the major share of the global metal cans market in the year 2016 and is anticipated to expand at the fastest growth rate during the forecast period. Based on application, the global metal cans market has been segmented into food, beverage, and others. The beverage segment commanded the dominant share of the global metal cans market in the year 2016 and is anticipated to project fastest growth during the assessment period.
Global Metal Cans Market: Regional Analysis
Geographically, the global metal cans market growth has been segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The North America and Europe region are currently projecting dominance over the global metal cans market. Changing lifestyle, increased popularity of canned food products, high demand for packaged alcoholic and nonalcoholic beverages and changing dietary habits are majorly propelling the growth of the metal cans market in the North America region. High demand for metal cans in food and beverages industry is fueling the expansion of the metal cans market in the Europe region. Rise in production of metal cans due to the availability of cheap raw materials and labor in the emerging economies is also contributing to the growth of the metal cans market in the Asia Pacific region.
Global Metal Cans Market: Key Players
Some of the prime player profiled by MRFR that are operating in the global metal cans market are Rexam plc (the U.K.), Silgan Containers LLC (the U.S.), Kian Joo Can Factory Berhad (Malaysia), Independent Can Company (the U.S.), Ball Corporation (the U.S.), Crown Holdings, Inc. (the U.S.), HUBER Packaging Group GmbH (Germany), SKS Bottle & Packaging, Inc. (the U.S.), Ardagh Group S.A. (Luxembourg), Berlin Packaging (the U.S.), Kaira Can Company Limited (India), The Cary Company (the U.S.), Allstate Can Corporation (the U.S.), Allied Cans Limited (Canada), and CPMC Holdings Limited (China). The players in the global metal cans market are retaining their dominance over the global metal cans market by expanding their product profile by introducing innovative products in the global market. Initiatives of strategic mergers and acquisitions are aiding these players for sustaining the competition in the global metal cans market during the assessment period.
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