Food Cans Market to Reach a Valuation of ~US 33.7 Bn by 2027, Moving Beyond Packaging With Custom Manufacturing Trends - Transparency Market Research
- With the evolving choices of consumers, the sales of large-sized food cans are growing at a high, albeit, steady pace, while that of small-sized food cans are on an exponential projected to rise at a CAGR of ~6%
- Popularity of plastic cans is projected to boom, despite the groundswell and consumer backslash regarding their impacts on health
ALBANY, New York, March 6, 2020 /PRNewswire/ -- TMR delivers key insights on the food cans market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019 –2027. In terms of revenue, the global food cans market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, about which, TMR offers thorough insights and forecasts in this report.
'The Food Can Appeal' – Aesthetically Pleasing, Long-lasting, yet Cost-Effective
Food cans offer a shelf life ranging from one to five years, which varies as per the sealing technique. Canned food is preferred by consumers as it is considered to be cost-effective and long-lasting. As such, it is even more popular among the millennial population. Due to prolonged shelf life, food cans aid in reducing waste caused by the spoilage of food. These factors have led to an increase the demand for food cans in the global market. Moreover, food cans also help in controlling portion sizes, and are easy to serve. The portion-control characteristic has particularly resulted in a sharp increase in pet food sales, as it helps in maintaining the correct diets for pets.
Asia Pacific to Represent Significant Growth Potential for Regional Manufacturers
Geographically, Asia Pacific holds ~18% of the global food cans market, and is expected to expand 1.4X its current value by the end of the forecast period. In Asia Pacific, the food cans market is expected to create an incremental opportunity of ~US$ 2.4 Bn and projected to expand at a CAGR of ~5% over the forecast period. Furthermore, China leads the charts in the Asia Pacific region, in terms of both, production and consumption of canned food products. This can be attributed to the busy lifestyle of the millennial population who do not prefer investing time on elaborate recipes.
The ASEAN countries, such as Vietnam and Malaysia are emerging as key regions for the food cans market. The Asia Pacific market is expected to grow rapidly for food cans due to booming industry with a large population that is ready to spend on processed and packaged foods. The Asia food cans market can, therefore, be regarded as an extremely competitive market, and is projected to offer the food cans market with remunerative possibilities.
Europe & U.S. Cumulatively Account for ~60% of the Global Market
The United States accounts for a lion's share in the North America market, and is anticipated to expand 1.4X its current value by the end of 2027. The demand for food cans has witnessed substantial growth in North America. It is anticipated that the enhanced shelf life of food cans will further bolster market growth. Affordability of food cans, coupled with changing lifestyles, is anticipated to be the key growth driver of the food cans in the region.
Europe holds ~one-fourth of the global food cans market share, and represents an incremental opportunity of ~US$ 2.5 Bn by 2027, despite being a mature market. Furthermore, the market in Poland is projected to expand at a CAGR of ~5% in term of value during the forecast period. In the food cans market, the meat, poultry & seafood segment is expected to lead the way because of increasing customer inclination towards protein-rich foods.
Food Cans Market: Competition Landscape
In the global market report for food cans, key players profiled are Crown Holding Inc., Silgan Holding Inc., Ball Corporation, Toyo Seikan Co. Ltd, Smurfit Kappa Group Plc, Mondi Group Plc, Sonoco Product Company, Ardagh Group S.A, CPMC Holding Limited, Kingcan Holding Limited, Allstate Can Corporation, Kian Joo Can Factory Berhad, Independent Can Company, Colep Portugal S.A, Nampak Ltd, HUBER Packaging Group, Visy Industries, CAN-PACK S.A., Jamestrong Packaging, and Aaron Packaging Inc.
Crown Holdings Inc., Ardagh Group S.A, Silgan Holding Inc., and Ball Corporation have been identified as the top players operating in the global food cans market. However, several other players are emerging as prominent regional players, such as Kian Joo Can Factory Berhad, Colep Portugal S.A, and others. While they might not directly compete with the global giants, they can affect regional pricing trends to a significant extent.
Analyze food cans market growth in 30+ countries including US, Canada, Germany, United Kingdom, ASEAN Countries, Japan, India, China, and Japan. Request a sample of the study.
Global Food Cans Market: Structure
Food Cans Market by Capacity
Less than 100 gm
100 gm - 300 gm
300 gm - 500 gm
More than 500 gm
Food Cans Market by Material
Food Cans Market by End Use
Meat, Poultry & Seafood
Bakery & Confectionary
Sauces, Jams & Pickles
Fruits & Vegetables
Tea & Coffee
Food Cans Market by Product
Food Cans Market by Region
Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the Global Packaging Industry:
Can Sealers Market - Across the globe nowadays convenient packaging has emerged as one of the crucial features of packaging. Intense demand for safe packaging based on designed government regulations has made the products sealing a primacy in the food & beverage as well as in the healthcare industries.
Can Shipper Market - The demand for cans shippers is expected to grow significantly due to growing need for protective packaging solutions for a variety of end-use packaging application in different industries such as chemicals, pharmaceutical, automotive, and food & beverages among others.
Pharmaceutical Bottles Market – The global market for pharmaceutical bottles in Spain presented an opportunity worth US$241.4 mn. Progressing at a steady CAGR of 3.80% between 2016 and 2024, the market is estimated to reach US$235 mn by the end of 2024.
Primary Packaging Market – Primary packaging market is driven with demand for primary packaging products from industries, Asia Pacific leads primary packaging market, primary packaging market to show a remarkable growth in coming years.
Glass Bottles and Containers Market – The global glass bottles and containers market is expected to expand alongside rising need for glass bottles in the packaging industry. The advent of customized packaging has played a vital role in accelerating the rate of market growth.
Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.