DUBLIN, January 28, 2022--(BUSINESS WIRE)--The "Europe Metal Cans Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The European Metal Cans Market was valued at USD 17.31 billion in 2020 and is expected to reach USD 19.95 billion by 2026 is expected to register a CAGR of 2.33% from 2021 to 2026.
Members of Metal Packaging Europe support the strong measures taken by the national governments and the European Commission to help stop the spread of the COVID-19 pandemic.
They are committed to guaranteeing the supply of metal packaging, abiding by the strictest safety and hygiene rules for food & beverage, hygiene, medical, and other essential goods throughout Europe.
BPA-free coatings in the metal can packaging format are ultimately increasing the demand for BPA-free metal cans. The product is gaining prominence due to its distinct features, such as resistance to transportation, hermetically sealed cover, rough handling, and easy recyclability.
Recyclable properties of metal cans are driving the market as making products from recycled metals uses less energy, reduces carbon emissions, and uses less water than raw materials. Some metals, especially aluminum, are so profitable to recycle that companies pay people and businesses for their used metal. According to Waste Care Corporation, recycled aluminum cans alone generate approximately USD 800 million each year. In Europe, companies are contributing more sustainability for recycling aluminum.
Moreover, the rise in consumer awareness concerning the application of non-carcinogenic materials in packaging and increased demand for lightweight packing generates high growth prospects for metal cans. As canned foods have a shelf life of up to 5 years longer compared to fresh food. The foods that most commonly come inside a tin can include fruits, vegetables, soups, and meat.
However, the presence of alternate packaging solutions is restraining the market from growing, as the replacement possibility of polymer-based packaging materials, including polyethylene and polyethylene terephthalate (PET), is witnessing a challenge in the metal can usage.
Key Market Trends
Food Cans to Witness Significant Growth
The United Kingdom is experiencing high demand for packaged food due to rising income, ease and convenience, and availability of canned food. Additionally, consumer trends, such as a preference for small-size and multi-pack packaging formats, support the volume growth of the metal cans in the food sector of the United Kingdom.
Furthermore, consumers demand food cans due to their low environmental impact with the increasing environmental concerns. The high recyclability of metal cans is one of the significant drivers for the market studied.
For instance, Royal Canin Veterinary Health Gastrointestinal Wet Dog Food claims that it is a combination of highly digestible proteins, prebiotics, fibers, and fish oil that ensure digestive security and contributes to dogs' health.
Moreover, during the COVID-19 crisis, the country has witnessed an increased demand for online pet food retailers and subscription services to provide pet food during the lockdown. For instance, PetShop.co.uk has experienced a 300% hike in sales.
The surge in consumer demand for convenience and healthier food because of the busy lifestyle, especially among the working-class people, product innovation, and rise in the number of the quick-service restaurant, is expected to drive the canned soup market in the United Kingdom.
In addition, an increasing number of consumers are seeking vegan or plant-based products, and the growth of the online retail sector is expected to create lucrative opportunities for the market players.
Some of the major players in the market offer variety of soups such as Tesco Finest Pea and Wilshire Cured Ham Soup, Heinz Tomato Soup, Progresso Chicken Soup, Newgate Vegetable Soups, Pacific Foods Organic Creamy Cashew Carrot Ginger Soup, Sprague Organic Tuscany Style Minestrone, etc.
Alcoholic Cans Expected to Occupy Significant Market Share
Alcohol consumption in the European region is highest globally, where wine is the popular form of alcoholic beverage consumed in Europe. While glass and plastic packaging have seen extensive usage for many years, metal is becoming more mainstream in areas independent of its traditional market. Craft beers are primary examples where many brewers are enlightened that metal cans do not taint the beer's flavor.
The aluminum beverage can is one of the world's most popular drinks containers. Europeans use up to 50 billion cans every year, drinking mineral water, soft drinks, and alcohol/beer, and continuous improvements in the aluminum production and can manufacturing processes in the European region.
Crown Holdings, Inc.
Silgan Holdings Inc.
Massilly Holding SAS
Tata Europe Ltd
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220128005403/en/
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