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Metal Cans Market Global Segmentation and Major key Players Analysis 2023
Market Research Future added New Report Named "Global Metal Cans Market Research Report- Forecast 2023" to its Database.
Metal cans were first introduced in the beginning of the nineteenth century as metal packaging systems for alcoholic and non-alcoholic drinks. As the technology advanced later, its scope of application expanded to various end-use commodity packaging purpose, such as chemicals, edible food & beverage items, and oil. Metal cans are primarily made up of materials such as aluminum, steel, and tin, which backs almost one-third of the metal packaging market. Metal cans are lightweight and easy to stack. The major benefit of metal cans is that they are 100% recyclable without degrading the quality and sturdiness of the material. The current recycling rate of metal can is around two and half times greater than any other subordinate packaging solution. One of the major advantages of recycling metal cans is that they reduce the CO2 emission and thereby, diminish the parent material usage.
The metal cans market is majorly driven by the growing use of cans in food and beverage packaging, exclusively used in packaging of aerated and non-aerated beverages. The phenomenal growth in personal care products and their extensive usage will certainly augment the packaging market. The growing demand of consumers regarding non-carcinogenic packaging materials due to growing health awareness and lightweight packaging is creating high opportunities for the metal cans market. However, the growing possibilities of polymer-based packaging material such as polyethylene and Polyethylene Terephthalate (PET) packaging is anticipated to indent the market stake of metal cans in the overall packaging market, during the forecast period.
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Global metal cans market has been segmented based on material, type, application, and region. Based on the material, the market is segmented into aluminum, steel, and tin. Among these, the aluminum segment is projected to dominate the metal cans market till 2023. The dominant position of this segment can be attributed to the growing use of aluminum for metal can packaging by companies. Aluminum is lightweight and non-reactive to all kind of food and beverages. Based on the type, the market is segmented into two piece metal can and three piece metal can. Two piece metal can segment dominated the market in 2016 and is projected to be the fastest growing metal can type. Two piece metal can is easy to manufacture, highly durable, and convenient to transport and stack. Based on application, the market is segmented into food, beverage, and others. Beverage segment dominated the market in 2016 and is projected to be the fastest growing application over the next five years, as a result of their high-end application to pack alcoholic & non-alcoholic drinks and aerated & non-aerated beverages.
Metal can package is a dynamic market with high competition among the major competitors. The market mainly faces encounters due to unstable raw material cost and existence of auxiliary packaging material. As the market has notable substitutes such as paper and plastic packaging, the suppliers’ bargaining power would be comparatively low, and buyers would relish high bargaining power control. Furthermore, the metal can have some indistinguishable characters in terms of beverage packaging, thus, leading to a low threat of substitutes. The growing impulsiveness regarding raw material prices aligned with environmental regulation accompanied with the production of metals is restraining the new entrants to enter the flourishing market.
The Global metal cans market is expected to grow at ~ 3.5% CAGR during the forecast period.
Global Metal Cans Market
The global metal can packaging market has been divided into four prominent geographical regions, which are North America, Europe, Asia Pacific, and Rest of the World. The European and North American regions currently dominate the global metal can packaging market, owing to high consumption of metal cans in the food & beverage industry. However, these regions are estimated to witness a lethargic growth due to the availability of the alternative packaging. The Asia Pacific market is predicted to uphold a higher growth rate over the forecast period. Growth in this region will be primarily propelled due to the rapidly increasing consumption by end-use industries. The Asia Pacific region is currently undergoing remarkable industrial growth through setting up new manufacturing facilities by global OEMs owing to the accessibility of the raw material at comparatively cheaper rates than any other region. The developing economies in the Asia Pacific region are highly promoting investment through various government initiatives, to establish consumer-oriented industries. Rest of the world is expected to gain steady momentum over the forecast period due to the rise in food & beverage industry across major developing economies in the region.
The key players of global metal cans market are Rexam plc (U.K.), Silgan Containers LLC (U.S.), Kian Joo Can Factory Berhad (Malaysia), Independent Can Company (U.S.), Ball Corporation (U.S.), Crown Holdings, Inc. (U.S.), HUBER Packaging Group GmbH (Germany), SKS Bottle & Packaging, Inc. (U.S.), Ardagh Group S.A. (Luxembourg), Berlin Packaging (U.S.), Kaira Can Company Limited (India), The Cary Company (U.S.), Allstate Can Corporation (U.S.), Allied Cans Limited (Canada), and CPMC Holdings Limited (China)
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