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Metal Can Market to Witness Growth at 3% CAGR Till 2024 – Industry Analysis by Hexa Research

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Metal cans are used extensively for the packaging and holding of foods, beverages, cosmetics, chemicals and oils. Rising demand for packaged foods, beverages, cosmetics, chemicals, pharmaceuticals, lubricants and oils is expected to propel the growth of “metal can market”.

The global metal can market size is expected to increase significantly over the next eight years on account of superior properties including recyclability, long useful life, printability, UV resistance, moisture resistance and protection from bacteria. Metal cans are used extensively for the packaging and holding of foods, beverages, cosmetics, chemicals and oils. Rising demand for packaged foods, beverages, cosmetics, chemicals, pharmaceuticals, lubricants and oils is expected to propel the growth of this industry. The unique ability of metal cans to retain flavour will drive the demand for its use in food and beverage industry. One of the most sought after property in the packaging industry is durability. Metal cans are highly durable and are ideal for packaging which in turn will augment industry growth. However, the evolution of metal cans has not been significant, apart from easy open-closures and various substitutes have been introduced. Lack of evolution and substitutes are expected to pose a major challenge for market growth.

A variety of industries uses metal cans for packaging. There are various packaging materials but metal cans hold strong with respect to durability and long useful life which will promote product demand. The peak use of metal can have been in food and beverage industry. Both non-alcoholic and alcoholic beverages are packaged in metal cans. The animal food industry uses metal cans owing to the property of moisture resistance and protection from bacteria. In addition, food products are packed in metal cans owing to bacteria protection and moisture resistance. Paint and chemical industries use metal cans extensively for packaging. Low cost and excellent performance will remain as the key drivers for its demand.

On the basis of raw materials, metal can industry is segmented into Aluminium metal can, Steel metal can and Tin metal can. Aluminium metal cans are used for packaging of food and beverages products such as pickles, spices and drinks. Aluminium metal cans being light weight, corrosion resistant and chemically inert will create immense market potential. Steel metal cans are used for packaging of oil filters and batteries. Tin metal cans are used for packaging of paints, chemicals, aerosols, fruit juices and edible oils owing to its non-reactive nature. The growth in the packaging industry is expected to stimulate the metal can demand in the future.

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On the basis of types, metal can industry is segmented into food cans, beverage cans, aerosol cans and paint cans. Food cans are sub-grouped into fish/sea foods, baby foods and animal foods. Beverage cans are sub-grouped into sports drinks, non-alcoholic drinks, fruit juices, alcoholic drinks, energy drinks and soft drinks.

Europe and Asia Pacific are the leaders in global metal can industry. Infrastructure industry and machinery industry has been on the rise in China, India and Korea. Food and beverage industries in China, Japan and India have been prospering. The development of these industries will create immense market potential over the forecast period in Asia Pacific. North America was once the leading user of metal cans but there has been a decline in the use of metal cans owing to market saturation and convenience issues. However, the animal food industry and beverage industry in North America are expected to drive the metal can industry demand in the future. Latin America is expected to offer good opportunities owing to the rising fish and sea food industry. The MEA is also expected to see a growth in metal can industry owing to the rise in populations and growing GDP. Innovation and R&D will result in further reduction in cost, evolution of metal cans and convenience, which will open new market avenues.

Key market participants include CPMC Holdings, Amcor, Sonoco Phoenix Inc., Ball Corporation, BWAY Corporation, Crown Holdings, Rexam, CAN-PACK and HUBER Packaging Group.

CPMC Holdings is the largest manufacturer of metal packaging products in China. It manufactures many varieties of metal cans such as beverage cans, aluminium bottles, aerosol cans, food cans, steel barrels and printed & coated tin plates. Similarly, BWAY Corporation is the market leader in North America for manufacturing metal cans.

Read Press Release on “Metal Can Market” @ https:/www.hexaresearch.com/press-release/metal-cans-market

About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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Contact Person: Michelle Thoras and Ryan Shaw
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Country: United States
Website: www.hexaresearch.com/research-report/metal-cans-industry

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