Latin America Food and Beverage Metal Cans Market was worth USD 4.42 billion in 2021 and estimated to be growing at a CAGR of 3.28%, to reach USD 5.2 billion by 2026. The gaining reputation of this market can be credited to increased demand for processed and canned food and beverages and visual appeal of canned food and convenience for use.
Due to advancements in technology to accompany the fast moving lifestyle canned foods have become popular. Canning is a mechanical process which preserves the food in an airtight metal container. Same way canned beverages are also processed. Canning enhances the shelf life and increases the portability. Canned food shelf life ranges from 1-5 years while canned beverages have a shelf life of 3 months.
The primary driving factors for the growth of the market are increase in demographic population, increased consumption of canned food and beverages to account for the busy and modern lifestyles, increasing demand for easily accessible and transportable food, increased necessity to expand the shelf life of food and increasing number of pet owners demanding canned pet food. Nonetheless, the growth of market is slowed by presence of alternatives like plastic packaged food which is cost effective but has lesser shelf life. The target audience for canned food and beverages are urban regions and developing regions. Also, Technological advancements in creating a cost effective manufacturing process holds great potential for the growth of the market.
The Latin America market for Food and Beverage Metal Cans is broadly characterized into Material, Applications and sub-Applications. Based on Material – Aluminium and Steel. Based on Application – Food and Beverages. Beverages metal can is further divided into type as 2-piece cans and 3-piece cans. Based on Food can sub-Application – Fruits and Vegetables, Convenience Foods, Pet Food, Meat and Seafood, Other Food products. Based on Beverage can sub-Application – Alcoholic Beverages, Carbonated Soft Drinks, Sports and Energy drinks, Other Beverages.
Geographically the Latin America Food And Beverage Metal Cans Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Brazil is leading this market with highest share owing to its population and Argentina is second. Argentina is the fastest-growing region due to its growing urban population and rapid lifestyle changes. Based on Applications Beverages is leading the market and growing rapidly. Based on Material Aluminium Cans are dominating the market holding nearly 70% of share.
Key Players in the Market:
Major Key Players in the Latin America Food And Beverage Metal Cans Market are
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