Food and beverage metal cans: Key market research findings
- New packaging designs and product innovations
- Growing trend of “on-the-go” beverages
Technavio has released a new market research report on the global food and beverage metal can market, which is expected to grow at a CAGR of around 3% between 2016 and 2020. The high recycling rate of metal cans is promoting the usage of these products among various suppliers. Metal cans are made from aluminium and iron, and can be recycled and used as consumable beverage cans within 60 days. North America is the largest market for food and beverage metal cans, accounting for 35% of the total market share. The demand for canned food products from the organized retail sector has been driving the market growth in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Vendors are aiming to develop new products and product innovations, owing to the rise in the adoption of beverage metal can packaging materials. The manufacturers are focusing on the packaging designs including use of sustainable materials for more durability, stronger barrier-protection, easy-to-open fitments and attractive shapes. Vendors are also trying to make these cans lightweight and easy to carry,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
Beverage cans dominate the food and beverage metal cans market, occupying around 73% of the total market share. Much of this segment’s growth can be attributed to the increase in the consumption of energy and sports drinks by youngsters and teenagers. Moreover, “on-the-go” beverages have gained huge demand among consumers owing to their busy lifestyles. This trends will propel the demand for packaging solutions that are not only attractive but also lightweight, over the next four years.
The key vendors in the global food and beverage metal can market include Amcor, Ball Corporation, CPMC, Crown Holdings, and Rexam. This market is highly fragmented due to the presence of several local and international suppliers. Vendors in this market compete on the basis of product differentiation, portfolio, and pricing. This research report predicts the competition in this market to intensify further during the forecast period due to the influx of new vendors.
A more detailed analysis is available in the Technavio report, Global Food and Beverage Metal Can Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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