The global metal cans market is expected to reach USD 52.83 billion by 2020,
according to a new study by Grand View Research, Inc. Metal cans are steel or
aluminium container mainly used for the storage of goods such as beverages,
foods and chemicals. Increasing environmental benefits coupled with growing
demand for beverages and canned foods are expected to drive metal cans demand
over the next six years. In addition, fast recycle rate for metal cans in
comparison to conventional materials such as glass and plastics is further
expected to augment its market growth. Technological innovation and use of
eco-friendly products are further expected to serve as key growth opportunity.
Beverages
were the largest product segment with consumption of 280,809.8 million cans in
2013, expected to reach 347,915.3 million cans in 2020, growing at a CAGR of
3.1% from 2014 to 2020. The demand for metal cans in beverages is expected to
rise due to its benefits such as excellent protection from ultraviolet rays and
extended coolness. Moreover, product differentiation and innovation in shape
and size of metal cans is expected to boost their demand in beverages. Within
beverages, alcoholic beverages dominated market with demand exceeding 127,300.0
million cans in 2013, and generated revenue of USD 16.12 billion in 2013.
Access
Research Report of Metal Cans Market@ http://www.grandviewresearch.com/industry-analysis/metal-cans-market
Further key findings from the study suggest:
· The global metal cans demand was 354,128.3
million cans in 2013 and is expected to reach 431,573.9 million cans by 2020,
growing at a CAGR of 2.9% from 2014 to 2020.
· In terms of revenue, North America was the
largest market for metal cans accounting for over 31.0% of global market share,
valued at USD 14.16 billion in 2013. The market is expected to show rapid
growth due high consumption of canned beverages and processed foods in the
region.
· Asia Pacific demand for metal cans was
94,764.7 million cans in 2013, and is expected to witness fastest growth owing
to increasing disposable income coupled with growing preference towards canned
food and is expected to grow at an estimated CAGR of 4.3% from 2014 to 2020.
· In 2013, vegetables accounted for the
largest food type segment with market share of over 43.0%. Market demand was
24,156.1 million cans in 2013 and is expected to witness lucrative demand
growth, at an estimated CAGR of 1.9% from 2014 to 2020.
· Key participants in global metal cans market
include CPMC Holdings Ltd., Amcor Ltd., Siligan Containers Corporation, Ardagh
Packaging Group Plc., Crown Holdings Inc. and Sonoco Phoenix Inc.
Grand View
Research has segmented the global metal cans market on the basis of product and
region:
Metal Cans
Product Outlook (Volume, Million Cans; Revenue, USD Million, 2012 - 2020)
·
Beverages
·
Foods
Metal Cans Region Outlook (Volume, Million Cans; Revenue,
USD Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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