The Global Metal Cans
Market is expected to reach USD 52.83 billion by 2020, according to a new
study by Grand View Research, Inc. Metal cans are steel or aluminium container
mainly used for the storage of goods such as beverages, foods and chemicals.
Increasing environmental benefits coupled with growing demand for beverages and
canned foods are expected to drive metal cans demand over the next six years.
In addition, fast recycle rate for metal cans in comparison to conventional
materials such as glass and plastics is further expected to augment its market
growth. Technological innovation and use of eco-friendly products are further
expected to serve as key growth opportunity.
Beverages were the largest
product segment with consumption of 280,809.8 million cans in 2013, expected to
reach 347,915.3 million cans in 2020, growing at a CAGR of 3.1% from 2014 to
2020. The demand for metal cans in beverages is expected to rise due to its
benefits such as excellent protection from ultraviolet rays and extended
coolness. Moreover, product differentiation and innovation in shape and size of
metal cans is expected to boost their demand in beverages. Within beverages,
alcoholic beverages dominated market with demand exceeding 127,300.0 million
cans in 2013, and generated revenue of USD 16.12 billion in 2013.
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Further key findings from the study
suggest:
- The global metal cans demand was 354,128.3 million cans in 2013 and is expected to reach 431,573.9 million cans by 2020, growing at a CAGR of 2.9% from 2014 to 2020.
- In terms of revenue, North America was the largest market for metal cans accounting for over 31.0% of global market share, valued at USD 14.16 billion in 2013. The market is expected to show rapid growth due high consumption of canned beverages and processed foods in the region.
- Asia Pacific demand for metal cans was 94,764.7 million cans in 2013, and is expected to witness fastest growth owing to increasing disposable income coupled with growing preference towards canned food and is expected to grow at an estimated CAGR of 4.3% from 2014 to 2020.
- In 2013, vegetables accounted for the largest food type segment with market share of over 43.0%. Market demand was 24,156.1 million cans in 2013 and is expected to witness lucrative demand growth, at an estimated CAGR of 1.9% from 2014 to 2020.
- Key participants in global metal cans market include CPMC Holdings Ltd., Amcor Ltd., Siligan Containers Corporation, Ardagh Packaging Group Plc., Crown Holdings Inc. and Sonoco Phoenix Inc.
For the purpose of this study, Grand View Research has
segmented the global metal cans market on the basis of product and region:
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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