Global food & beverage metal cans to reach $467.5 billion
Research and Markets (researchandmarkets.com) has announces the addition of the "Food & Beverage Metal Cans Market by Application, by Material - Global Forecast to 2019" report to their offering.
The global food & beverage metal cans market accounted for a volume of 392.99 billion units in 2013, and is projected to reach 467.50 billion units by 2019, growing at a CAGR of 2.9% between 2014 to 2019
The global food & beverage metal cans market is witnessing a high growth in recent years. Numerous factors have contributed towards the growth of food & beverage metal cans market.
The rising usage of canned beverages such as alcoholic drinks, carbonated soft drinks, sports & energy drinks capture the market for the beverage metal cans. An increasing shift towards the consumption of canned vegetables & fruits mostly in developed regions with limited access to fresh vegetables & fruits on a daily basis. Rising health awareness, manufacturers' demand for longer shelf life of food, increasing demands for convenience foods & canned meat and sea foods and environment friendly packaging are also fueling the growth of food & beverage metal cans market.
Ease of recycling and reusing metal cans and their easy availability and cheap production costs makes them a preferable choice for can manufacturers. Other key trends include the rise in smaller households, leading to increasing units of smaller pack sizes, as well as the shift from environmental concerns related to plastics, glass and other non recyclable forms of packaging have influenced the food & beverage metal cans market.
New and trendy designs for beverage cans are being introduced to increase consumer awareness and attract customers towards beverages in metal cans. Research and development activities along with promotional efforts are being carried out by leading can manufacturers across all regions, especially in North America & Europe, to develop widen their customer base and attract new customers leading to the growth of the food & beverage metal cans market.