Eco-friendly ways, lightweight packaging, growing health awareness, food & beverage sector, and non-reactive quality are features of metal cans that are giving it much prominence. The Metal Cans Market Size is growing due to such prolific role it plays in the market.
Segmentation:
The global Metal Cans Market Size, as per the analysis of MRFR, can be segmented into material, type, and application. This segmentation is expected to initiate a better understanding of the growth opportunities.
Based on the application, the Metal Cans Market Size comprises food, beverage, and others. The beverage segment had better market positioning in 2016 and has the ability to achieve the fastest growth rate in the coming five years. The high application rate in the alcoholic & non-alcoholic drinks and aerated & non-aerated beverages has given the beverage segment substantial advantage.
Regional Analysis:
North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), these are the four regions that have been taken into consideration while analyzing the global market scenario. This sort of analysis reveals growth pockets and helps in understanding of the global market.
Europe and North America are leading the market. This is because of strong metal can consumption in the food and beverage sector. The market also relies much on eco-friendly ways. That makes metal can a better packaging option.
The APAC market is expected to grow with better CAGR during the forecast period. This is going to be spurred by end-users, better availability of raw materials, OEMs developing better manufacturing facilities, lower production cost, and others. Remarkable growth in the region is helping the Metal Cans Market Size achieve unprecedented advantage. Consumer-centric transformations in the market are expected to help the regional market grow. Same is also true for the Rest of the World segment where Countries in the African region and Middle Eastern region are having significant growth.
Competitive Landscape:
In July 2019, several brands have taken steps to initiate an eco-friendly way of manufacturing. PepsiCo. is one such brand that has decided to launch their Aquafina and Bubly sparkling in metal cans in the US to counter plastic wastage.
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