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The high demand for canned food drives the market
Canned foods are minimally processed food that is ready-to-eat or ready-to-cook food. Consumers are demanding more of this processed food as it can be stored easily and has a longer shelf-life. Functional and processed foods are packed in special ways into different metal cans which keeps the taste and texture of the food intact. Additionally, the convenience of foods packed in cans increases its demand in the market.
The growing popularity of aluminum is projected to boost the material segment.
Most aluminum cans are made of two pieces, the can is produced from one metal piece and the manufacturing process is called drawing and wall-ironing. These cans are light in weight as compared to that other metal packaging materials and are recyclable. Aluminum is abundantly available in nature and is cost-effective. This helps in reducing the overall production cost. Most of these aluminum cans are single-use cans and wisely have their application due to enhanced malleability properties. The only issue that arises is in terms of the recyclability of aluminum cans which are prepared with a combination of aluminum and magnesium. During the recycling process, the mixture is not fully utilized.
The increasing trend of 2-piece cans in food and beverage application is set to dominate the market during the study period
Two-piece cans are made from a disc of metal which is formed into a cylinder with an integral end. 2-piece cans are produced by molding a single piece of material into a can-shaped body with an integral end and seamed lid. These cans are designed mainly to keep the taste, texture, and flavor of the food inside fresh and sterile. These cans provide excellent sealing and require less raw material for production. 2-piece cans are primarily used to pack instant food without going through the thermal processing step in manufacturing.
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Asia Pacific provides the highest growth prospects for the F&B metal cans market in 2023
Asia Pacific is a highly diverse market in terms of metal cans manufacturing and consumption. The Asia Pacific F&B metal cans market is expected to grow at a significant rate. The region comprises two densely populated regions India and China, which are dominated by an increase in the consumption of packed drinks and food products. The Asia Pacific region is estimated to account for the largest share in the dairy beverage market, and the demand for liquid dairy products is driven by economic growth, urbanization, and the rise in purchasing power of consumers. These countries are also offering key players to expand their reach in the F&B metal cans market by providing a vast customer base, the focus of the companies operating in the market is shifting towards establishing business and manufacturing facilities, which drives the market in the region. The prime factor contributing to the growth of F&B metal cans in the region is the growing adoption of metal cans to meet the intensifying food packaging demand and escalating population. Additionally, key players like Crown Holdings, Inc. (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), and others have a strong presence and market share in the region, which further boosts the F&B metal cans market in the Asia Pacific.
Key players in this market include Crown Holdings, Inc. (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), CCL Container (US), Can Pick S.A (Poland), Kian Joo Group (Malaysia), CPMC Holding (China), Envases (Spain), Toyo Seikan Group Holdings, Ltd (Japan), Universal Can Corporation (Japan), Independent Can Company (US), VISY (Australia), Mauser Packaging Solutions (US), Lageen Food Packaging (Israel), Massilly Holdings S.A.S (France), P.Wilkinson Containers Ltd (UK), Kingcan Holdings Limited (China), Muller and Bauer GmbH (Germany), Jamestrong Packaging (Australia).
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