Global Food & Beverage Metal Cans Market Set For Rapid Growth, To Reach USD 67.63 Million By 2024

25-Jul-2018 | Zion Market Research

Zion Market Research has published a new report titled “Food & Beverage Metal Cans Market by Type (2-Piece Cans and 3-Piece Cans), By Material (Steel And Aluminum), and By Application (Sports & Energy Drinks, Alcoholic beverages, Convenience Food, Meat & Seafood’s, Fruits & Vegetables, Carbonated Soft Drinks, Pet Food, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017 – 2024”. According to the report, the global food & beverage metal cans market was valued at around USD 52.80 million in 2017 and is expected to reach approximately USD 67.63 million by 2024, growing at a CAGR of around 3.64% between 2018 and 2024.

Metal cans are generally containers which are used in the distribution and storage of the food & beverages. Canning has main application in the packaging of sports & energy drinks, alcoholic beverages, convenience food, meat & seafood, fruits & vegetables, carbonated soft drinks, and pet food, among others. Metal cans are typically made up of either aluminum or steel. 

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Global Food & Beverage Metal Cans Market

The global food & beverage metal cans market is anticipated to witness significant growth during the forecast period. The market has been gaining importance due to its wide application in the food & beverage industry, where the manufacturer is more focused towards adaptation of metal cans to prevent food & beverage products from contamination and spoilage. Modernization of lifestyle of the consumers may positively impact the overall market growth over the forecast period. In addition, the plastic ban opens lucrative opportunities to the packing industries. However, growing environmental concern among consumers due to aluminum, mining of irons, and other metals could restrain the market growth.  

Based on metal cans type, the global food & beverage metal cans market is segmented into 2-piece cans and 3-piece cans. The 3-piece cans consist of three components – a bottom lid, a cylindrical body, and a top lid. While 2-piece cans comprise components of a body integrated with a bottom lid and a lid with an opening. Among these two, 2-piece cans are expected to attain more market share value during the forecast period.
 
On the basis of material, the global food & beverage metal cans market is divided into aluminum and steel. Steel possesses anti-corrosion property, good physical strength, and are available at a cheap price. On the other hand, aluminum cans are expected to hold dominant share value over the forecast period, due to its ease in manufacturing, better resistance to corrosion, and is less expensive than steel. 

By application, the global food & beverage metal cans market is categorized into sports & energy drinks, alcoholic beverages, meat & seafood, convenience food, fruits & vegetables, pet food, carbonated soft drinks, and others. Among these, the beverage industry is projected to attain more market share value within the forecast period. 

By geography, the global market for food & beverage metal cans is mainly segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among all, North America is projected to be the fastest growing market during the forecast period. This growth is attributed towards the high consumption rate of cold coffee, vegetable & fruit juices, iced tea, and sports drink like Red Bull, Gatorade, and Monster. Despite this, the major key players operating in beverage industries are Pepsi and Coca-Cola, which drives the demand in the U.S. market. These companies have tapped into almost all countries around the world. Following North America is the Asia Pacific and Europe which are expected to dominate the overall market share value during the forecast period.

The major key players operating in the global food & beverage metal cans market include Ball Corp., Alcoa Inc., Can-Pack S.A., Rexam Plc., Toyo Seikan Kaisha Ltd., and Sonoco Products Co. The detailed description of players includes parameters such as company overview, financial overview, business strategies and recent developments of the company.

This report segments the global food & beverage metal cans market as follows:

Global Food & Beverage Metal Cans Market: Type Segment Analysis

  • 3-Piece Cans 
  • 2-Piece Cans

Global Food & Beverage Metal Cans Market: Material Segment Analysis

  • Steel
  • Aluminum

Global Food & Beverage Metal Cans Market: Application Segment Analysis

  • Sports & Energy Drinks 
  • Alcoholic Convenience Food 
  • Convenience Food 
  • Meat & Seafood
  • Fruits & Vegetables 
  • Carbonated Soft Drinks 
  • Pet Food
  • Others

Global Food & Beverage Metal Cans Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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