DUBAI, United Arab Emirates, June 24, 2021 / PRNewswire / – The World metal cans market is growing at a steady pace due to the growing demand for plastic alternatives for packaging. According to an IMF study, the metal cans market has reached $ 52.37 billion in 2020 and is expected to exceed an assessment of 62.82 billion US dollars by 2031. The market is expected to grow at a CAGR of 3.5% during the forecast period 2021 to 2031.
Aluminum cans dominate the materials segment as they emit 95% less greenhouse gases and use 95% less energy compared to other alternatives. According to a study by the Packaging Machinery Manufacturers Institute (PMMI), more than 6,000 microbreweries have started using aluminum cans in the United States. This increasing shift towards the use of aluminum cans is expected to drive the market growth.
The coronavirus pandemic has had a negative impact on the market, causing sales of metal cans to drop. The outbreak has disrupted the supply chain and forced market players to shut down their manufacturing units amid the lockdown. Nonetheless, the need for efficient green packaging alternatives for food and drink is propelling the market growth.
North America dominates the global metal box market with the largest market share. The high consumption of soft drinks and other alcoholic beverages is driving the demand for metal cans in the region.
“Leading manufacturers are making continuous efforts to develop next-generation can interior coatings, such as acrylic and polyester, that will help maintain the flavor and quality of the foods packaged inside and achieve their sustainability goals, âthe IMF analyst said.
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Key points to remember
- The United States dominates the metal cans market by North America due to the increased consumption of frozen food and beer.
- The UK is expected to become a lucrative market for metal cans due to the presence of breweries and other soft drink manufacturers.
- Asia Pacific The metal cans market is predicted for rapid growth due to its booming economy coupled with increasing disposable income and growing demand for processed food and beverages.
- Rising demand for canned energy drinks and cold coffee is expected to drive the market growth in Latin America.
- Non-alcoholic drinks account for the largest market share due to the increasing consumption of carbonated drinks and fruit juices.
- The growing demand for alternatives to plastic for packaging will drive the growth of the metal cans market.
- Growing awareness about the environment will propel the demand for metal cans.
- The rise of the packaged food and beverage industry will provide sales opportunities for metal cans.
- Easy recyclability and resistance to transportation are the factors supporting the growth of the market.
- The increasing use of biodegradable plastic in food and beverage packaging will hamper the demand for metal cans.
- The fluctuation in the cost of raw materials is a factor restraining the growth of the metal cans market.
- The metal’s lack of microwave capability compared to other alternatives negatively affects the growth of the market.
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Major manufacturers are expanding their manufacturing facilities to increase their market share and engage in strategic acquisitions and partnerships to maintain their lead. For example,
- Ardagh Packaging acquired specific packaging productions and support sites from Rexam and Ball Cooperation in 2016. The acquisition helped the company own 10 cans production plants and two final plants in Europe.
- In Jan 2020, Ardagh Group has started its new manufacturing facility in Huron to increase the company’s market share.
The major players presented by FMI operating in the Metal Boxes market are:
- Silgan holdings
- Crown assets
- Ardagh; Packaging
- HUBER packaging
- Kian Joo Can Factory Berhad
- Toyo Seikan
- Tetra Laval International
- Trinidad Holdings
- Can Smart (PTY)
- Independent bobbin
- Berlin packaging
- Caira can
- SKS bottle and packaging
- Sonoco Phoenix
More information on FMI metal cans Marlet
The latest market research on the Global Metal Boxes Market by Future Market Insights gives detailed segmentation for the forecast period 2021-2031. In order to get a better perspective of the global market potential, growth, trends and opportunities, the market is segmented on the basis of various parameters:
- Two-piece canister
- Three-piece box
- Alcoholic beverages
- Non-alcoholic drinks (carbonated and non-carbonated drinks)
- Processed dairy products
- Other processed food products
- Edible oil
- Medicinal tablets and syrups
- Personal care and cosmetic products
- Industrial chemicals
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- Food and drinks
- Pharmaceutical industry
- Consumer goods
- North America
- Latin America
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