Metal Cans Market Share| COVID-19 Impact, Outlook and Future Scope - Analysis by 2023
Metal cans are extensively utilized in food and beverages industry for packaging of food materials as well as alcoholic and nonalcoholic beverages. Rapid expansion of food and beverages industry and high demand from consumers for packaged foods and drinks are majorly fueling the expansion of the global Metal Cans Market Share during the assessment period. Increased consumption of canned food and focus towards utilization of recyclable packaging materials are also propelling the expansion of the global Metal Cans Market Share.
The report published by Market Research Future (MRFR) states that the global Metal Cans Market Share is marked to expand moderately at a CAGR of 3.5% during the forecast period.
Segmentation
The global Metal Cans Market Share has been segmented on the basis of material, type, application, and region. Based on material, the global Metal Cans Market Share has been segmented into aluminum, steel, and tin. The aluminum segment commands the dominant share of the global Metal Cans Market Share owing to the high utilization of aluminum due to its light-weight and non-reactive nature towards all kinds of beverages and food items. Based on type, the global Metal Cans Market Share has been segmented into two piece metal can and three piece metal can. The two piece metal can segment commanded for the major share of the global Metal Cans Market Share in the year 2016 and is anticipated to expand at the fastest growth rate during the forecast period.
Regional Analysis
Geographically, the global Metal Cans Market Share has been segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The North America and Europe region are currently projecting dominance over the global Metal Cans Market Share. Changing lifestyle, increased popularity of canned food products, high demand for packaged alcoholic and nonalcoholic beverages and changing dietary habits are majorly propelling the growth of the Metal Cans Market Share in the North America region. High demand for metal cans in food and beverages industry is fueling the expansion of the Metal Cans Market Share in the Europe region. Rise in production of metal cans due to the availability of cheap raw materials and labor in the emerging economies is also contributing to the growth of the Metal Cans Market Share in the Asia Pacific region.
Key Players
Some of the prime player profiled by MRFR that are operating in the global Metal Cans Market Share are Rexam plc (the U.K.), Silgan Containers LLC (the U.S.), Kian Joo Can Factory Berhad (Malaysia), Independent Can Company (the U.S.), Ball Corporation (the U.S.), Crown Holdings, Inc. (the U.S.), HUBER Packaging Group GmbH (Germany), SKS Bottle & Packaging, Inc. (the U.S.), Ardagh Group S.A. (Luxembourg), Berlin Packaging (the U.S.).
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