The Food and Beverage Metal Cans Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Food and Beverage Metal Cans Market is estimated to be USD 50.96 billion in 2016 and predicted to rise to USD 60.82 billion by 2021 with a CAGR of 3.6%. The market is segmented by Material (Aluminium, Steel), Application (Food, Beverage), Food can sub-Application (Fruits & Vegetables, Convenience Food, Pet Food, Meat & seafood, Other food products), Beverage can sub-Application( Alcoholic Beverages, Carbonated soft drinks, Sports and Energy Drinks, Other Beverages) and beverage metal cans type (2-Piece cans, 3-Piece cans). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The growth of the market is driven by major factors consisting of increasing urban population, increasing demand for processed and canned food to satisfy the busy life styles, increased demand for easily accessible and easily transportable food, increased necessity to prolong the shelf life of food. But the market is restricted by factors like presence of competitors like plastic packaged food and beverages which are cost effective but offer lesser shelf life. Also, Technological improvements for making cost effective manufacturing processes holds great future potential for the market.
Material wise Aluminum cans are leading the market due to its high abundancy, processing ease and ease of recyclability. Based on Application Beverages are leading the market with around 75% share and are also the fastest growing segment in Applications. Food Applications are also growing at a steady pace due to increased consumer base for canned food in urban areas.
Asia-Pacific is leading the market regionally followed by North America. The reasons for its dominance are its huge urban population, increased consumption of canned food due to fast paced lifestyles in developing countries, rapid adoption rate in many regions and increased necessity to improve shelf life of food.
Some of the key players consisting metal refiners, metal sheet manufacturers, metal can manufacturers dominating the market include Crown Holdings, Ball Corporation, Silgan Holdings, Ardagh Group, CAN-PACK S.A., Kian Joo Group, CPMC Holdings, Kingcan Holdings Limited, Tetra Laval International S.A., HUBER Packaging Group.
Browse through the full report at https://www.marketdataforecast.com/market-reports/food-and-beverage-metal-cans-market-2890/ and checkout our recent reports in the Processed Food at https://www.marketdataforecast.com/subcategory/processed-food-15/ For more insights and up-to-date industry news don’t forget subscribing to our newsletters.