F&B metal cans market worth $49.20 bn by 2019

Updated: June 02, 2016 12:01 PM

The food and beverage metal cans market is driven by the key market players with expansions and investments as their preferred strategy to sustain the competition in the market and garner a larger market share

20160615eh58

The food and beverage metal cans market is driven by the key market players with expansions and investments as their preferred strategy to sustain the competition in the market and garner a larger market share

The report “Food & Beverage Metal Cans Market by Application, by Material Global Forecast to 2019” by US research company MarketandMarket suggests that the global food and beverage metal cans market in terms of value is projected to reach US$ 49.20 billion by 2019, at a CAGR of 2.9 per cent from 2014 to 2019.

The food and beverage  (F&B) metal cans market is driven by the key market players with expansions and investments as their preferred strategy to sustain the competition in the market and garner a larger market share.

Rise in environmental concerns among the can manufacturers as well as end users, together with ease of recycling and reusing metal cans as compared to PET is driving the demand for F&B metal cans. Increasing usage of plastic packaging types such as PET bottles and growing demand for cartons act as a major threat to the food and beverage metal cans market.

Beverage application holds the majority share in the application market. This is mainly due to the companies looking to provide convenience factor for consumers while consuming beverages. In beverage applications, carbonated soft drinks (CSD) held the majority share while sports and energy drinks exhibited the fastest growth. Growth of beverage consumption in emerging markets such as China, India, Indonesia, Africa, Middle East and Brazil is set to drive demand for beverage metal cans. There is a stark difference in terms of raw material usage in beverage and food applications. Beverage cans are mostly made up of aluminum while steel is predominantly used for food metal cans.

The food metal cans market is projected to reach 102.5 billion units by 2019. Globally, the changing lifestyle of people and increasing consumption of ready made meals is driving the demand for food metal cans. The emerging economies in the Asia-Pacific region hold growth prospects for this market in the coming years due to their rising disposable income, increasing population and rapid urbanisation. Food can applications mainly comprise of vegetables and fruits, convenience food, pet food, meat and seafood, and others. The others segment includes bakery and confectionary, pastas, chocolates, etc. Vegetables and fruits are the major contributors for the food metal cans market, followed by meat and seafood products. Convenience food is projected to be the fastest growing application due to the rising demand for convenience food products. Demand for meat and sea food products is also projected to be higher due to increasing consumption of these products.

The report includes development strategies and product portfolios of the leading companies. The profiles of leading companies such as Ball Corporation (UK), Can-Pack SA (Poland), CPMC Holdings (China), Crown Holdings Inc. (US) and Rexam PLC (UK) have been included in the report. The report further provides qualitative analysis of the prominent market players and their preferred development strategies.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1UK minister Liz Truss to announce new strategic forum, tech tie-ups in India
2PM Narendra Modi to address the nation at 10 AM
3Internet snapped in areas of Kashmir, two-wheelers seized ahead of Amit Shah’s visit