Flourishing Food Industry in Asia Pacific to Shape Growth of Global Metal Cans Market, says TMR
The global metal cans market is characterized by the presence of a large number of international and local players, which accounts for a fragmented nature of this industry, says a new research report by Transparency Market Research (TMR). The companies do not operate at the global level and have a moderate degree of competition. Some of the key players in the global metal cans market are Amcor Ltd., Ardagh Packaging Group Plc, Ball Corp., and BWAY Corp.
“Technological innovation for product development is one of the key growth models that top players in this market are adoption,” says the lead author of the study. Due to the fragmented nature of the market, large companies are focused on product innovation to break in. An excellent example is Amcor Ltd., the company invested heavily in upgrading existing equipment and installing new equipment in its Rocklea manufacturing plant. Following this move, the company produced Ezi Drink Can, which resulted in considerable metal savings due to a reduction in end diameter and gauge than its predecessor cans.
Expansion through market penetration is also on the growth charts of top players in this market. Companies in this market are planning for new manufacturing facilities that have advantages pertaining to logistics, business tax, and availability of skilled labor.
Acquisitions and business alliances are also what top players are strategizing for in the bid to break into regional markets.
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Ability to Withstand Rough Handling Favors Use of Metal Cans
A TMR analyst points out “The rising demand for canned food and beverages is one of the foremost factors driving the growth of the metal cans market. Metal cans have been used for food preservation purposes since the beginning of the 19th century and are extensively used for food packaging needs. Metal cans can withstand improper handling and transportation, are easy to recycle, and do not require refrigeration.”
An increasing demand for aerosol cans is also benefitting the growth of this market. Aluminum cans are gaining popularity in the packaging of aerosols, cosmetics and gasoline, and paints as they provide vacuum and resistance from the external environment.
High recyclability and recovery rates of aluminum is another major factor driving the growth of this market. As per the analysis of the Can Manufacturers Institute of America, aluminum cans lead for recyclability amongst all other beverage containers.
The fluctuating prices of raw material is a deterrent to the market’s growth. The need for large amounts of raw material along with enormous energy consumption in the manufacture of metal cans is restraining the market’s growth.
The increasing demand for alternative material in the manufacture of food packaging is also detrimental to the market’s growth. Product manufacturers are increasingly using flexible material such as polyethylene terephthalate (PET).
Beverage Industry Continues to Consume Metal Cans in High Numbers
The global metal cans market is expected to reach a valuation of US$51.6 bn by 2019. Beverages stood as the leading product segment with almost 80% of the market in 2012. The rising demand for soups, canned juices, carbonated drinks, alcoholic drinks, and a variety of other beverages presently is translating into increasing demand for metal cans.
Asia Pacific and Europe account as the leading revenue generators to the global market. The rapid expansion of the food and beverages industries in Asia Pacific will account for the region to continue its dominance in the coming years as well.
The information presented in this review is based on a new research report by Transparency Market Research, titled “Metal Cans Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.”
Segmentation of the Global Metal Cans Market:
Metal Cans Market: Product Segment Analysis
Others (Aerosol, Paints)
Beverage Cans Market: Product Segment Analysis
Carbonated Soft drinks
Fruit and Vegetable Juices
New Drinks (Energy and Sports Drinks)
Food Cans Market: Product Segment Analysis
Fruits (excluding Juices)
Soups and Miscellaneous Foods
Other Foods (Baby Foods, Poultry)
Food Cans Market: Regional Segment Analysis
Rest of the World (RoW)
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