Metal Cans and Glass Jars Market Revenue in India and Iran Anticipated to Expand at CAGR of 2.2% and 3.6% From 2016 to 2024
Transparency Market Research has released a new market report titled “Metal Cans and Glass Jars Market – India and Iran Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.” According to the report, the metal cans market in India and Iran was valued at US$31.6 Mn in 2015 and is estimated to reach US$38.2 Mn in 2024, expanding at a CAGR of 2.2% between 2016 and 2024. The glass jars market in India and Iran was valued at US$135.4 Mn in 2015 and is projected to reach US$184.9 Mn in 2024, expanding at a CAGR of 3.6% between 2016 and 2024.
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Various food and beverage products such as fruits, vegetables, meat, coffee, and soup are packaged in metal cans. Metal cans offer multiple advantages. Therefore, these are useful packaging materials. Metal cans help maintain the nutritional value of food and also prevent it from microbial contamination. Thus, these cans increase the shelf life of canned food or beverages. Glass jars are also used as packaging materials. Glass containers offer various advantages such as chemical stability, reusability, and sterility. Glass is used to package food, alcoholic and non-alcoholic beverages, chemicals, and pharmaceuticals. Glass bottles and jars are available in various shapes, sizes, and colors. Thus, metal cans and glass jars are extremely useful as food packaging materials. Metal cans and glass jars are employed for food applications such as preserved food, milk powder, pet food, confectioneries, and chocolates. Increasing demand for canned food and high recycle and recovery rate of metal cans are likely to drive the market in India and Iran during the forecast period.
In terms of application, preserved food was the largest application segment of the metal cans market in 2015. It accounted for more than 50% share in terms of demand in the year. The others segment is also expected to be a major consumer of metal cans for food application in the next few years in India and Iran. Preserved food is estimated to be the fastest growing application segment of the metal cans market for food between 2016 and 2024.
Preserved food was also the largest application segment of the glass jars market, constituting more than 50% share in terms of demand in 2015. The others segment is projected to be one of the major consumer of glass jars for food application in the next few years in India and Iran. Preserved food is likely to be the fastest growing application segment of the glass jars market for food in India and Iran between 2016 and 2024.
In terms of volume, India held the larger share of the metal cans and glass jars market for food application than Iran in 2015. Rising population and improvement in lifestyle coupled with high disposable income have shifted the preference toward canned food in India. However, increasing popularity of plastics and other packaging materials such as paper and polyethylene terephthalate (PET) due to their light weight and lower space consumption is projected to hamper market growth.
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Key players in the metal cans and glass jars market include Ardagh Group, Ball Corporation, Crown Holdings Inc., Rexam PLC, Amcor Limited, Bormioli Rocco SpA, Gerresheimer AG, Heinz-Glas GmbH, Piramal Glass Limited, Saint-Gobain S.A., Vetropack Holding AG, Wiegand-Glas GmbH, Stolzle-Oberglas GmbH., Hindustan National Glass & Industries Limited (HNGIL), HSIL, Haldyn Glass Ltd., Shishe & Gaz Glass Manufacturing Co., Hamadan Glass Company, Crystal Iran Co., Hindustan Tin Works Ltd., Kaira Can Company Limited, Iran Ghouti, Tabriz Can Industries, and Farr Co. Ltd.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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