The Food and Beverage Metal Cans Market size was valued at $25.65 billion in 2019 and is poised to grow at a CAGR of 6.3% percentage during the forecast period 2020-2025. Food metal cans are used for safe storage and transportation of food products. The Beverage can is a metal container built to accommodate a set volume of liquid, such as alcoholic beverages, carbonated soft drinks, ready to drink teas & coffees, fruit juices, and energy drinks. Factors including their environmental benefits, growing demand for canned products, and fast recycle rate are anticipated to provide new avenues to the growth of metal cans industry over the forecast period 2020-2025. The product is also gaining prominence owing to its discrete features including hermetically sealed cover, resistance to transportation and irregular handling, and convenient recyclability.
The aluminum and steel sheets are the key raw material used for the manufacturing of this products. Aluminum cans are the most sustainable type pf packaging used for foods and beverages and can be recycled easily. They chill quickly, and provide a superior metal canvas to print on, perhaps most importantly; they protect the flavor and integrity of any food and beverage. The increased recyclability of aluminum, the safety issues about the use of plastics, are attributing to the growth of the market.
By Material – Segment Analysis
Based on the Material, the global Food and Beverage Metal Cans market is segmented into Aluminum and Steel. Aluminum accounts for the largest share of the market in terms of revenue 2019 and is poised to continue for the forecast period 2020-2025. Aluminum cans are also estimated to grow at the highest CAGR of 7.3% from 2020-2025. High production of aluminum food and beverage cans is owing to its rising popularity as the standard for food and beverage packaging. The aluminum can end are flat and must be thicker than bodies to resist pressure. Supermarkets and hypermarkets are self-help shops giving a wide variety of Food and Beverage Metal Cans such as sweet Food and Beverage Metal Cans, savory, crackers, filled or coated, and others. Supermarkets and hypermarkets offer extensive merchandise mix along with different brands of Food and Beverage Metal Cans, placed under the same roof, which helped it to occupy more revenue share.
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By Application – Segment Analysis
Based on the application, the global Food and Beverage Metal Cans market have Food and Beverage segment. Food is further is divided into sub-segments of Fruits & vegetables, Convenience food, Pet food, Meat & seafood, and other food products. Similarly, Beverage has sub-segments like Alcoholic Beverages, Carbonated Beverages, Water, Fruit & Vegetable Juices, Ready to drink tea & coffee, Sports/Energy drinks, and others. The alcoholic beverages segment is set to hold major revenue share in the global beverage cans market owing to the increase in demand for beer in developing and developed economies, which is set to boost the segment growth over the forecast period 2020-2025. Better cooling properties of cans is estimated to boost the market growth. There has also been a significant shift from glass packaging to canned form of packaging considering its convenience, thus further propelling segment growth.
By Geography – Segment Analysis
By geography, North America held the largest market share of 43% in terms of revenue in 2019 owing to rising demand for various healthy beverages, carbonated soft drinks, health drinks, and sucralose juices. Further, increasing demand for canned food from the region is also supporting the regional market growth. Robust investment in R&D and technological advancements coupled with innovative products are projected to have a positive impact on the domestic production of food and beverage metal cans market in North America, thus fueling market growth. Besides, rising demand for industry growth is owing to the widespread promotional activities and marketing strategies by various key players.
The Asia Pacific market is set to have higher growth potential in the forecast period 2020-2025 with the highest CAGR of 7.7%. A large consumer market and increasing disposable income in countries including India and China is set to drive the growth of the demand for high-quality metal packaging from the region.
Drivers – Food and Beverage Metal Cans Market
Growing demand for carbonated soft drink cans
Demand for Canned drinks is gradually becoming a popular trend among the beverage consuming population. From stress-relievers to immune system health to beauty, consumers are now seeking more from their drinks than simply hydration. Canned soft drinks give customers an idea of better health awareness with an attractive display on the body and easier consuming and disposing of methods, therefore acting as a significant factor driving food and beverage metal cans market.
Recyclability and Weight Advantage of Aluminum Cans
Aluminum cans are the most recycle-able container, thus is most preferred packaging solution for food and beverage manufacturing companies therefore boosting the market growth. The average can contain 70 percent recycled metal. Also, Aluminum cans are lightweight and easily stacked which helps to provide storage and shipping efficiencies and limits overall transportation carbon emissions through logistics and supply chains. Further, they deliver 100 percent protection against oxygen, light, moisture and, all the other contaminants. Furthermore, they are resistant to corrosion, and provide one of the longest shelf lives of any type of packaging. This all key features offered by aluminum cans is projected to support the growth of global food and beverage metal cans market.
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Challenges – Food and Beverage Metal Cans Market
The Varying prices of raw materials
Food and Beverage cans are usually made of aluminum or steel. The average prices of these raw materials vary greatly with time. For instance, the price of aluminum has seen a rapid increase in recent years. Manufacturers have to face problems for keeping a stable price margin for their products in order to prevent losing their customer base.
Food and Beverage Metal Cans Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Food and Beverage Metal Cans Market. Key companies of this market are Ball Corporation, Ardagh Group, Can Pack SA, CPMC Holding Ltd, Crown Holding Inc., Amcor Limited., Klian Joo Can Factory Berhad, Showa Denko KK, Nampak Bevcan Limited, and Toyo Seikan Group.
In April 2020, Nampak beverage has officially launched its new Think future campaign through which the company hopes to encourage those who interact with its brand to make the kind of daily decisions that is set to positively affect the environment for generations to come.
In Jan 2020, Ball Corporation has launched a new impact extruded aluminum bottle line that provides a circular solution to plastic pollution. Just like Aluminum beverage cans, the impact extruded aluminum bottle is mono-material that can be stored and recycle.
In September 2018, Ardagh group launched development machine allowing brands to unveil new or redesigned products in food and beverage cans and glass packaging much faster. It is a highly flexible glass forming system, capable of quick changes, and is contributing to a 30% reduction in new product lead times.
Geographically, North America held the largest share in the global Food and Beverage Metal Cans market in 2019, owing to large number of consumers for packaged food and beverages coupled with growing consumer awareness toward environmental sustainability.
Increasing disposable income of consumers and changing living standards of the middle-class population across the globe is set to boost the global Food and Beverage Metal Cans market growth positively.
The trend of cans with reseal-able ends are gaining popularity owing to the rising application of canned packaging in the alcohol beverages industry which is set to drive the global food and beverage metal cans market in the forecast period 2020-2025.
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