Metal Cans Market for Foods to Exhibit 2.40% CAGR between 2013 and 2019

With technological advancements, innovative product patterns, expanding application market and rise in food and beverage production in emerging markets, there has been a rapid growth in the metal cans market. Increasing demand for canned food and beverages on account of changing lifestyle and rise in disposable income of consumers is one of the primary factors driving the market. In addition, growing demand for deodorants, hairsprays and pharmaceuticals in aerosol cans is augmenting the demand for metals cans. Furthermore, high recycling and recovery rate of metal cans is expected to be another significant driver for the market as more and more consumers are becoming increasingly aware regarding environment protection. However, volatility in the prices of steel and aluminum are expected to hamper the growth of the market. In addition, increasing demand for packaging materials other than metals such as plastics and paper is expected to restrain the growth of the market over the next few years. Technological advancement and innovation has led to development of easy open lids, superior graphical designs on the cans and availability of self-heating cans. Furthermore, initiatives are being undertaken by several metal can manufacturers to develop eco-friendly cans and improve the rate of recycling. These factors are expected to open new opportunities for the growth of the market in the near future.

Metal cans demand was highest in the beverages product segment in 2012 and accounted for over 70% of the market. Growing demand for beverages and increasing use of metal cans in their packaging due to its various advantages such as prolonged coolness of the drink and excellent barrier from ultraviolet rays and bacterial contamination is expected to boost the demand for metal cans in beverages. Demand for metal cans for packaging of beverages is expected to be the fastest growing segment of the market within the forecast period due to the above mentioned factors.

For More Industrial Insights Get PDF Brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=706

Within beverages, alcoholic beverages were the largest product segment and accounted for over 40% of the metal cans demand in 2012. However, new drinks product segment, which includes drinks such as sports drinks, nutritional drinks and energy drinks, are expected to be the fastest growing product segment within the forecast period. Rising awareness about health fitness and increased involvement in sports activities owing to the health benefits associated with it are expected to bolster the demand for energy drinks, nutritional drinks, and sports drinks by 2019.

Within foods, vegetables were the largest product segment accounting for over 40% of the food market share in 2012. Demand for metal cans within the food segment, is expected to witness the highest growth in fruits (excluding juices) on account of increasing awareness regarding metal cans retaining flavor and nutritional value of these products.

Request for Customization:
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=706

Europe dominated the market for metal cans and accounted for over 30% of the market in 2012. Within the forecast period, Asia Pacific is expected to witness the highest growth in the metal cans market on account of increased consumer spending and strategic marketing of manufacturers. In addition, increasing availability of canned food in retail stores is another factor driving the demand in this region over the next few years. China and India are expected to lead the Asia Pacific market for metal cans over the next few years on account of increased manufacturing activities owing to reduced material and labor costs.

ABOUT US:
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.