With a current value of US$ 2.25 Bn in 2022, the market for food tins and beverage cans is anticipated to grow at a CAGR of 4.5% through 2032. By 2032, the market will probably be valued at $3.49 billion USD.
Started from the developed countries and gradually adopted by consumers in developing countries, food consumption pattern witnessed dynamics shift over past decade. Meteoric growth in instant ready to eat and packaged food market, due to rise in dual income level, standard of living and convenience offered by newer format of food consumption.
Canned food and beverages have integrated with urban lifestyle, particularly in developed as well as developing geographies. Food tins and drink cans are most effective solution equipped with all features needed for storage and transportation. Food tins and drink can also preserve the nutrition value and flavor of the product. Food tins and drink cans are a good means of safely preserving of foodstuffs for longer duration without any microbiological deterioration as these tins and cans are made from corrosion resistant materials.
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Global Food tin and Drink cans Market: Drivers and Restrains
Most countries across globe have started to invest in infrastructure such as deep freezing mechanism which is required for proper storage of ready to consume food and keep food temper resistant with increased shelf life. Food tins and drink cans are becoming an asset in packaging for manufactures as they incur very less cost packaging solution and thus provide value to the manufacturers. Also, these tins and cans can be manufactured in large quantity in any size and shapes. This all derives tins and cans market all across the globe.
On the other hand, people across world has grown health conscious and thus avoids consumption of an industrial chemical called Bisphenol A or BPA which can seep into food and beverage stored in tins and cans leading to diseases such prostate and breast cancer thus hampering growth of food tin and drink can market. Moreover, the inclination of manufacturers as well as customers towards new pouches and thin plastic packaging, hampers the growth of metal food tin and drink can market. Also, customers want packaging with features such as tins and cans to be used in the microwave, re-sealable packaging and also easy opening patterns. This has acted as the important restraining factors for the metal packaging container market.
Global Food tin and Drink cans Market: Segmentation
The Global food tin and drink cans market has been segmented as follows
- Based on the material used
- Steel tins and cans
- Aluminum tins and cans
- Tin Plate tins and cans
- On basis of product type
- 3-Piece cans
- 2- Piece cans
- Single drawn cans
- Drawn and re-drawn cans (DRD)
- Draw and wall ironing cans (DWI)
- Based on the end use
- Dairy products
- Fruits & vegetables
- Ready meals
- Pet food
- Fish and seafood
- Others
- On the basis of packaging types
- Round tins and cans
- Bowl tins and cans
- Shaped tins and cans
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Global Food tin and Drink cans Market: Segmentation overview
The majority of cans and tins used for food and beverage packaging all over the world are made up of steel. Aluminum cans are mostly preferred in beverage packaging mostly for carbonated drinks.
Global Food tin and Drink cans Market: Regional overview
Geographically, the food tins and drink cans market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). Among regions mentioned above, North America bags a significant share and it is expected to maintain as market leader during the forecast period as it provides a better freezing facility for the storage of food tins and drink cans. Asia’s Food and Beverages market shall experience an unprecedented growth taking half of the consumption by 2021 thus contributing to growth of global food tins and drinking can market. Overall, the global food tin and drink can market is expected to register a healthy CAGR during the forecast period.
Global Food tin and Drink cans Market:Key players
Some predominant players identified across the globe are Crown Holdings, Cansmart, Silgan Containers LLC, Jamestrong Packaging, Kian Joo Can Factory Bhd, Perennial Packaging Group Pty Ltd, Allstate Can Corporation, TinPak (Pvt) Ltd. and BALL CORPORATION.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis include
- North America (U.S., Canada)
- Latin America (Brazil, Rest Of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Rest Of Western Europe)
- Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia Pacific excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- TheMiddle East and Africa (GCC countries, S. Africa, Rest Of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Report Highlights:
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- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
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