Increased Focus of Food Manufacturers to Retain Products' Nutritional Value Stimulates Sales Opportunities in Food Cans Market: TMR
- The global food cans market is foreseen to show growth at a CAGR of 4% during forecast period of 2019 to 2027. Products from this market are increasingly used owing to their eco-friendliness and other advantages
- On regional front, Asia Pacific food cans market is likely to show promising growth during assessment period
ALBANY, N.Y., Oct. 27, 2020 /PRNewswire/ -- Food cans are widely used in the storage and distribution of a wide range of food products and beverages. Generally, food cans are manufactured using aluminum or steel as raw material. These products aregaining traction across the globe owing to their eco-friendliness. Thus, increased consumer inclination toward the use of eco-friendly products is predicted to drive demand opportunities in the global food cans market during the forecast period of 2019 to 2027.
Analysts at TMR note that the global food cans market is likely to grow at swift speed during the assessment period 2019–2027. This growth is attributed to growing consumer preference toward healthy eating. This aside, increased focus of food cans manufacturers toward offering innovative products will stimulate the sales in this market in the years ahead.
The global food cans market is slated to show steady growth at a CAGR of ~4% during the assessment period of 2019 to 2027.
Of all capacities, the 300 gm - 500 gm segment is likely to gain prominent sales avenues in market during forecast period.
Of all material types, the metal segment of the food cans market is estimated to account for approximately US$ ~7.3 Bn by the end of 2027.
Aluminum is another materials segment that is likely to show promising growth and reach valuation of ~US$ 1.9 Bn by 2027 end.
Of all product types, 2-piece food cans segment is slated to show development at 3.5% CAGR during assessment period.
On regional front, Asia Pacific food cans market is expected to gain promising expansion avenues during 2019–2027.
Explore 209 pages of top-notch research, incisive insights, and detailed country-level projections on Food Cans Market (Capacity: Less than 100 gm, 100 gm - 300 gm, 300 gm - 500 gm, More than 500 gm; Material: Metal (Stainless Steel, Aluminum), Tinplate, Paperboard, Plastic; Product: 2-piece Cans, 3-piece Cans; End Use: Meat, Poultry & Seafood, Pet Food, Bakery & Confectionary, Sauces, Jams & Pickles, Fruits & Vegetables, Tea & Coffee, Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027 at https://www.transparencymarketresearch.com/food-cans-market.html
Food Cans Market: Key Driving Factors and Promising Avenues
The food cans market is likely to attract promising demand avenues on the back of plethora of factors. Food cans are in high demand owing to their several advantages such as resistance to irregular handling and transport,hermetically sealed cover, and easy recyclability.
Food cans are gaining popularity owing to their tamper-proof and anti-leakage properties.The companies engaged in the production of food and beverages are growing use of food cans owing to their ability to maintainthe nutritional contents of food products. As a result, the global food cans market is likely to grow atstupendous pace in the forecast period.
Increased use of food cans in the storage and transportation of frozen food, pet food, vegetables, fruits, and beansis generating promising sales avenues for vendors operating in the global food cans market.
Analyze global food cans market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Food Cans Market: Competitive Assessment
The global food cans market experiences presence of many regional as well as international players,making the competitive landscape of this market moderately fierce.
Major food cans manufacturers are growing focus toward the production of products according to the need of end-use companies. Thus, they are investing heavy amounts in research and development activities.
Several enterprises in the global food cans market are using various strategies such as partnerships and collaborations to gain competitive edge.
The list of important companies working in the food cans market includes Silgan Holding Inc., Toyo Seikan Co. Ltd, Ball Corporation, Smurfit Kappa Group Plc, Mondi Group Plc, Crown Holding Inc., and Sonoco Product Company.
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