CHICAGO, March 31, 2020 /PRNewswire/ -- According to the new market research report "Food & Beverage Metal Cans Market by Material (Aluminum and Steel), Type (2-Piece and 3-Piece), Degree of Internal Pressure (Pressurized Cans and Vacuum Cans), Application (Food and Beverages), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Food & Beverage Metal Cans Market is estimated to be valued at USD 27.6 billion in 2020 and is projected to reach USD 37.0 billion by 2025, recording a CAGR of 6.1%. The rapid growth in awareness toward environmental sustainability and recyclable properties of metal cans are the driving factors for the food & beverage metal cans market.
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The aluminum segment is projected to witness significant growth during the forecast period
Based on material, the food & beverage metal cans market is segmented into aluminum and steel. The aluminum segment is projected to witness significant growth during the forecast period. Aluminum is majorly used as a raw material for manufacturing of metal cans. It is a very cost-effective raw material used in the food & beverage industry and can customize packages with colors, 3D prints, and embossing. Its lightweight, impermeable, and high flexibility properties make it ideal for packaging; the segment accounted to have a significant share in the food & beverage metal cans market.
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The 2-piece cans segment is accounted to have the major share in the food & beverage metal cans market during the forecast period
Based on type, the food & beverage metal cans market is segmented into 2-piece cans and 3-piece cans. The 2-piece cans are estimated to account for the larger share for food & beverage metal cans market, because of its high usage in the beverage industry. The 2-piece cans are suitable for packaging of carbonated and non-carbonated beverages such as beer, wine, sports drinks, and fruit juices. Moreover, 2-piece food cans are lightweight and are available with a stackable feature as a result of which they can be placed on top of each other for neat stacking on the shelf, thus saving shelf space. Thus, the demand for 2-piece cans is high in the food & beverage metal cans market.
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The Asia Pacific region is projected to witness the fastest growth during the forecast period
The Asia Pacific food & beverage metal cans market is projected to have higher growth potential in the coming years. A large consumer market and increasing disposable income in India and China are driving the growth of the demand for high-quality metal packaging. Also, China is the hub for the manufacture of metal cans and has sufficient manufacturing plants to meet the demand for food & beverage metal packaging. Moreover, rapid urbanization in countries such as India and China are expected to result in high growth of the food & beverage metal cans market in Southeast Asia during the forecast period.
This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies. It consists of the profiles of leading companies such as Crown Holdings, Inc (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), CAN-PACK S.A. (Poland), Kian Joo Group (Malaysia), CPMC Holdings Limited (China), Huber Packaging Group GmbH (Germany), CCL Industries (US), Toyo Seikan Group Holdings Ltd (Japan), Universal Can Corporation (Japan), Independent Can Company (US), Mauser Packaging Solution LLC (Germany), Visy (Australia), Lageen Food Packaging (Israel), Massilly Holding S.A.S (France), P. Wilkinson Containers Ltd. (UK), Unimpack (Netherlands), Müller und Bauer GmbH (Germany), and Allied Cans (Canada).
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