Global food and beverage metal can market to reach close to $36 billion by 2020
According to the latest market study released by Technavio (technavio.com), the global food and beverage metal can market is expected to reach close to $36 billion by 2020, growing at a CAGR of more than 3%.
This research report titled ‘Global Food and Beverage Metal Can Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The report segments the global food and beverage metal can market based on raw material, which include:
Aluminum-based food and beverage metal can market
Aluminum packaging is used primarily for food and beverage products such as spices, pickles, and drinks. This form of packaging is mostly preferred over other forms of metal packaging as it is lightweight, chemically inert, impermeable, and corrosion-resistant. An increase in the consumption of frozen and canned food products and beverages, both alcoholic and non-alcoholic, and an increase in the use of pharmaceuticals and chemicals is leading to the demand for aluminum packaging.
However, the increasing demand for rigid and flexible plastic packaging products poses a significant challenge to the market, as consumers prefer low-cost plastic packaging, which has similar functions and features. The global aluminum packaging market is also witnessing a technological shift as vendors are investing in innovative technologies for growth opportunities, which will affect the market landscape in the future.
Steel-based food and beverage metal can market
Steel packaging material includes blackplate, tin-free steel, and polymer-coated steel. Blackplate, which is used battery cases and oil filters, is steel packaging without any additional layer of metal. Tin-free steel or electrolytic chromium coated steel (ECCS), is steel with a coating of chromium metal or chromium oxide on both sides. It is used to make two-piece cans, seamed cans, aerosol bottoms, tops, ends, lids, crown corks, and twist-off caps. Polymer-coated steel is coated with a polymer that combines the best features of steel and plastic for packaging purposes.
According to Sharan Raj, a lead packaging industry analyst at Technavio, “The demand for steel packaging is expected to increase from the emerging markets such as APAC and the Middle East. The growing population and the rising GDP in the developing economies such as China and India are positive trends that are propelling growth in these regions.”
The report also states that the demand for steel packaging in mature markets, such as North America and Western Europe are not the same as that in APAC and the Middle East. These regions are growing at a very slow rate because of market saturation in several end-user industries.
Tinplate-based food and beverage metal can market
Tinplate is a steel sheet covered with tin on both sides. Tinplate packaging is used for making cans, aerosols, and screw tops. It is used for preserving perishables such as processed foods, vegetables, fruit juices, and edible oils. It is also used for the storage of products such as paints, chemicals, and seeds because of its non-reactive nature.
“The growing concern about food safety and increasing consumer preference for eco-friendly materials are propelling the tinplate-based packaging segment. The improvement of living standards and the growing demand for ready-to-eat food in emerging economies is also contributing to its demand as it is convenient, re-sealable, and sustainable,” says Sharan.
The top vendors highlighted by Technavio’s research analysts in this report are: