April 25, 2022 12:13 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, April 25, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Food & Beverage Metal Cans Market By Raw Materials (Aluminum and Steel), By Type (2-piece and 3-piece), By The Degree of Internal Pressure (Pressurized Cans, and Vacuum Cans), By Application (Food (Fruits & Vegetable, Convenience Food, Pet Food, Meat & Seafood, Other Food Products (Baby food, Dairy food, and Oils & fats)), Beverages (Alcoholic Beverages, Carbonated Soft Drinks, Sports & Energy Drinks, and Other Beverages (Dairy beverages, Packaged water, RTD coffee & Tea, Juices, and Nectar)), and By Region - Global and Regional Industry Trends, Market Insights, Data analysis, Historical Information, and Forecast 2022–2028” in its research database.
What is the Food & Beverage Metal Cans Market Growth?
“According to the latest research study, the demand of global Food & Beverage Metal Cans Market size & share was valued at around USD 27,419.5 million in 2021 and it is expected to surpass a value of around USD 38,456.8 million Mark, by 2028, at a compound annual growth rate (CAGR) of about 5.8% during the forecast period 2022 to 2028.”
What are Food & Beverage Metal Cans? How big is the Food & Beverage Metal Cans Market?
Metal cans are made up primarily of steel, aluminum, and tin. These are easy to stack and are lightweight. Metal cans have a number of important advantages, including the fact that they are 100 percent recyclable without compromising the material's sturdiness or quality, which helps to ensure environmental sustainability.
Metal, as a packaging material, has good barrier qualities and is therefore widely employed in food packaging applications. They are employed in a variety of packaging types and have a variety of closures, such as glass bottles and composite cans. Since metals are not inert with food products, the packing material is coated with protective lacquers to avoid food and metal interactions and to prevent migration into food. These packaging materials have a lower global warming potential and are more recyclable since they have magnetic properties that make segregation easier.
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What are the factors driving the Food & Beverage Metal Cans Market?
The rising global demand for packaged food items is propelling the Food and Beverage Metal Cans Market in the forecast period. In addition, the changing lifestyles of individuals and the increasing disposable income of consumers are supporting market expansion in the coming years. The Food and Beverage Metal Cans Market is also benefiting from rising consumer awareness about non-carcinogenic packaging. The metal cans are used for packaging as they match the safety regulations and hygiene standards of the consumers.
The constant efforts made by major manufacturing businesses to create unique packaging goods are expected to provide enormous potential for the Food and Beverage Metal Cans Market over the anticipated period. Metal recycling and reusing are helping to drive the market forward. Moreover, the rising popularity of free home delivery has increased the demand for healthier food packing. However, growing worries about pollution, fluctuations in raw material prices, and the availability of alternatives are projected to stymie industry expansion.
Browse the full “Food & Beverage Metal Cans Market - Global and Regional Industry Trends, Market Insights, Data analysis, Historical Information, and Forecast 2022–2028” Report at https://www.fnfresearch.com/food-and-beverage-metal-cans-market
Which segment accounted for the largest Food & Beverage Metal Cans Market share?
The Food & Beverage Metal Cans Market is segregated based on Raw Material, Type, Degree of internal Pressure, and Application.
Based on Raw Materials, the global market is distinguished into Aluminum and Steel. Based on Type, the global market is distinguished into 2-piece and 3-piece. Based on the Degree of internal Pressure, the global market is distinguished into Pressurized cans, and Vacuum cans.
Based on Application, the global market is distinguished into Food, Fruits & vegetable, Convenience food, Pet food, Meat & seafood, Other food products (baby food, dairy food, and oils & fats), beverages, Alcoholic beverages, Carbonated soft drinks, Sports & energy drinks, and Other beverages (dairy beverages, packaged water, RTD coffee & tea, juices, and nectars).
What is the Impact of COVID-19 on Food & Beverage Metal Cans Market?
The global metal cans business experienced ups and downs during the Covid-19 pandemic era. Increased demand for healthy beverages may have sped up industry growth. Steelmakers responded rapidly to the impact of the COVID-19 outbreak on demand, with first-quarter output dropping year over year. In addition, the nonferrous metals industry is an important provider of vital value chains such food packaging. Due to severe demand reductions in important value chains, supply delays, and transportation issues, COVID-19 is having a large and expanding economic impact on the nonferrous metals sector. The Covid-19 lockdown, on the other hand, created a higher production halts and supply chain disruption, which hampered industry expansion.
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Who are the key players in the Food & Beverage Metal Cans Market?
Some of the main competitors dominating the global Food & Beverage Metal Cans market include -
Key Insights from Primary Research:
Key questions answered in this report:
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Which region offers the best opportunity and growth for Food & Beverage Metal Cans Market?
In the food and beverage metal cans industry, North America held the biggest market share. The increased consumer awareness of environmental sustainability is driving the North American food and beverage metal cans industry. North America is a significant producer of food and beverages. Furthermore, North America is one of the world's largest consumers of aluminium cans, and the region is primarily controlled by a huge number of packaged food and beverage customers. Strong R&D expenditure and technological advances are projected to have a favorable impact on the North American domestic production of the food & beverage metal cans market.
These variables influence the North American market for food and beverage metal cans. The Asia-Pacific area is predicted to develop at the quickest rate throughout the forecasted period because of rising consumer disposable income, rising demand for high-quality metal packaging from the region, a variety of beers at varying prices, and the influence of Western culture. Moreover, the increase in beer consumption by the young population is likely one of the key causes leading to the region's rise in beer consumption, which supports the metal cans business.
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The global food & beverage metal cans market is segmented as follows:
By Degree of Internal Pressure
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