Understanding the Food Can Market
Before we delve into the nuances of this industry, let’s define the Food Can Market and understand its scope and significance.
What are Food Cans?
Food cans are a type of metal packaging used to store and preserve a wide variety of food products, including fruits, vegetables, meat, fish, and ready-to-eat meals. These containers are typically made of steel or aluminum, offering an airtight seal that protects the contents from contamination and spoilage.
The Emergence of Canning: A Brief History
Canning as a preservation method dates back to the early 19th century when Napoleon Bonaparte offered a reward for anyone who could develop a reliable food preservation technique. French inventor Nicolas Appert won the prize by sealing food in glass jars, but it was later in 1810 when British merchant Peter Durand patented the use of tin-coated iron cans, setting the foundation for modern-day food cans.
According to Future Market Insights, the food can market is projected to witness a steady value CAGR of 3.9% from 2022 to 2032. Starting with a valuation of US$ 23.1 Billion in 2022, the market’s growth trajectory indicates a soaring demand, estimated to reach US$ 33.86 Billion by 2032.
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Factors Driving Market Growth
- Convenience and Portability: Food cans offer a convenient way to store and transport various food items, making them popular among consumers with busy lifestyles.
- Extended Shelf Life: The airtight seal of food cans helps extend the shelf life of products, reducing food waste and ensuring product freshness.
- Rising Demand for Canned Ready-to-Eat Meals: With the increasing number of working individuals, the demand for canned ready-to-eat meals has surged, boosting the market growth.
- Urbanization and Modern Retail Formats: Rapid urbanization and the rise of modern retail formats have significantly increased the accessibility of canned food products.
Challenges for the Food Can Market
Despite its growth and success, the Food Can Market faces certain challenges that need to be addressed for long-term sustainability.
- Environmental Concerns: The environmental impact of metal packaging, including recycling challenges, is a pressing concern for the industry.
- Competition from Alternative Packaging: The market faces competition from alternative packaging solutions, such as flexible pouches and sustainable materials.
Key Food can Market Takeaways and Projections
- The U.S. is expected to lead the North America Food can market, projecting the fastest growth in the region between 2022-2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Report Benefits & Key Questions Answered
- Food can Historical Market Analysis: The detailed survey by FMI, examines key factors in the Food can market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Food can market for the forecast period 2022-2032.
- Food can Category & Segment Level Analysis: The category & segment level analysis conducted by FMI studies the market in terms of segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming ten years.
- Food can Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Food can for the assessment period. As per the study, the demand for Food can will grow at a robust CAGR between 2022-2032.
- Food can Company & Brand Share Analysis: A recent study by FMI highlights a comprehensive list of leading market players and stakeholders in the global Food can market. It examines the business execution, cost structure analysis, and supply chain analysis, of Tier 1, Tier 2, and Tier 3 players for the forthcoming decade.
- Food can Market Trend Analysis: The latest study by FMI on the Food can market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Food can market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global Food can market. Some of the players in the global Food can market are
- Ardagh Group
- Wells Can Company
- Kian Joo Group
- CPMC Holdings
- Kingcan Holdings Limited
- CAN-PACK S.A
Food can Market: Market Segmentation
The global food cans market has been segmented as follows –
On the basis of material, the global food cans market has been segmented as:
- Aluminum
- Steel
- Plastic
- Others
On the basis of application the global food cans market has been segmented as:
- Pet food
- Convenience Food
- Fish & Seafood
- Fruits & Vegetables
- Others
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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