The market for food & beverage metal cans is projected to reach 551.38 Billion units in terms of volume by 2022, and USD 63.01 Billion in terms of value and CAGR of 3.6% by the year 2022. Metal cans are most widely used to package processed food & beverage products. Among all the kinds of beverages, sports & energy drinks are the fastest-growing sub-application of the beverage metal cans market. Promotional cans for sports & energy drinks, launched in marketing campaigns and social media are estimated to drive the beverage metal cans market. Metal cans are also used to package fruits & vegetables and other processed food products to safeguard the product from spoilage and maintain its freshness.
Asia-Pacific: Fastest-growing market
Asia-Pacific is the fastest growing market for food & beverage metal cans, due to booming economy with a large population base ready to spend on processed food & beverages, and rapidly growing consumer markets of China, India, and Japan. In this region, the beverage segment dominates the food & beverage metal cans market, due to increasing preference for cans over other forms of beverage packaging.
Aluminum: The most preferred material for beverage packaging
On the basis of material, the food & beverage metal cans market is segmented into steel and aluminum, of which aluminum is projected to grow at the higher CAGR from 2016 to 2021. Companies such as Crown Holdings, Inc. (U.S.) setup its aluminum beverage can production line in Thailand to meet its customers’ demands in June 2015. Steel is widely used for foods such as vegetables, fruits, and convenience food.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=251
Beverage segment is growing at a higher CAGR in the food & beverage metal cans market
On the basis of application, the food & beverage metal cans market is segmented into food and beverages. The beverage segment is projected to grow at a higher CAGR from 2016 to 2021. Food and beverage applications are further segmented into respective sub-applications. The sports & energy drinks can sub-segment from the beverage metal cans segment is projected to grow at the highest CAGR during the forecast period.
The key players identified in the food & beverage metal cans market include Crown Holdings, Inc. (U.S.), Ball Corporation (U.S.), Silgan Holdings Inc. (U.S.), Ardagh Group (Luxembourg), Can-Pack S.A. (Poland), Tetra Laval International S.A. (Switzerland), and HUBER Packaging Group GmbH (Germany).
To speak to our analyst for a discussion on the above findings, click Speak to Analyst