New York, NY, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Food & Beverage Metal Cans Market by Type (2-Piece Cans and 3-Piece Cans), By Material (Steel And Aluminum), and By Application (Sports & Energy Drinks, Alcoholic beverages, Convenience Food, Meat & Seafood’s, Fruits & Vegetables, Carbonated Soft Drinks, Pet Food, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017 – 2024”. According to the report, the global food & beverage metal cans market was valued at around USD 52.80 million in 2017 and is expected to reach approximately USD 67.63 million by 2024, growing at a CAGR of around 3.64% between 2018 and 2024.
Metal cans are generally containers which are used in the distribution and storage of the food & beverages. Canning has main application in the packaging of sports & energy drinks, alcoholic beverages, convenience food, meat & seafood, fruits & vegetables, carbonated soft drinks, and pet food, among others. Metal cans are typically made up of either aluminum or steel.
Browse through 51 Tables & 24 Figures spread over 110 Pages and in-depth TOC on “Global Food & Beverage Metal Cans Market: By Type, Size, Share, Industry Trends and Forecast, 2017 – 2024”.
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The global food & beverage metal cans market is anticipated to witness significant growth during the forecast period. The market has been gaining importance due to its wide application in the food & beverage industry, where the manufacturer is more focused towards adaptation of metal cans to prevent food & beverage products from contamination and spoilage. Modernization of lifestyle of the consumers may positively impact the overall market growth over the forecast period. In addition, the plastic ban opens lucrative opportunities to the packing industries. However, growing environmental concern among consumers due to aluminum, mining of irons, and other metals could restrain the market growth.
Based on metal cans type, the global food & beverage metal cans market is segmented into 2-piece cans and 3-piece cans. The 3-piece cans consist of three components – a bottom lid, a cylindrical body, and a top lid. While 2-piece cans comprise components of a body integrated with a bottom lid and a lid with an opening. Among these two, 2-piece cans are expected to attain more market share value during the forecast period.
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On the basis of material, the global food & beverage metal cans market is divided into aluminum and steel. Steel possesses anti-corrosion property, good physical strength, and are available at a cheap price. On the other hand, aluminum cans are expected to hold dominant share value over the forecast period, due to its ease in manufacturing, better resistance to corrosion, and is less expensive than steel.
By application, the global food & beverage metal cans market is categorized into sports & energy drinks, alcoholic beverages, meat & seafood, convenience food, fruits & vegetables, pet food, carbonated soft drinks, and others. Among these, the beverage industry is projected to attain more market share value within the forecast period.
Browse the full "Food & Beverage Metal Cans Market by Type (2-Piece Cans and 3-Piece Cans), By Material (Steel And Aluminum), and By Application (Sports & Energy Drinks, Alcoholic beverages, Convenience Food, Meat & Seafood’s, Fruits & Vegetables, Carbonated Soft Drinks, Pet Food, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/food-beverage-metal-cans-market
North America is projected to display significant growth in the years to come. This is mainly due to growing concern among people over the consumption of sustainable packaging materials. North America has always exhibited a high demand for the healthy food & beverages such as cold coffee, vegetable & fruit juices, iced tea, and sports drink like Red Bull, Gatorade, and Monster. Despite this, the major key players operating in beverage industries are Pepsi and Coca-Cola, which are driving the demand in the U.S. market. These companies have tapped into almost all countries around the world.
Europe shows an inclination towards usage of metal cans because the European Union is the biggest manufacturing sector as per the European Commission. Thus, it is expected to show substantial growth in the food & beverage metal cans market over the forecast period.
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Asia Pacific food & beverages metal cans market shall experience exceptional growth during the forecast period. Emerging economies such China and India are poised to gain more revenue value due to its huge demographic population, busy lifestyle, increase in household per capita income, which inclines them towards ready-to-go foods & beverages, particularly canned food & beverages. In addition, the food & beverages industry is following innovative market strategies to strengthen its distribution base in emerging economies. Consequently, metal cans manufacturers can increase their presence by providing metal cans product to their customers in new regions such as Latin America, Asia Pacific, and Africa.
The major key players operating in the global food & beverage metal cans market include Ball Corp., Alcoa Inc., Can-Pack S.A., Rexam Plc., Toyo Seikan Kaisha Ltd., and Sonoco Products Co. The detailed description of players includes parameters such as company overview, financial overview, business strategies and recent developments of the company.
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This report segments the global food & beverage metal cans market as follows:
Global Food & Beverage Metal Cans Market: Type Segment Analysis
Global Food & Beverage Metal Cans Market: Material Segment Analysis
Global Food & Beverage Metal Cans Market: Application Segment Analysis
Global Food & Beverage Metal Cans Market: Regional Segment Analysis
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