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Global Metal Cans Market for Food and Beverage Industry 2020-2024 | Rise in Adoption of Reusable Packaging to Boost Growth | Technavio

The global metal cans market size for food and beverage industry is expected to grow by USD 8.92 billion during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report

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Technavio announced its latest market research report titled global metal cans market for food and beverage industry 2020-2024. (Graphic: Business Wire)

Increasing demand for sustainable packaging is one of the critical factors anticipated to drive market growth during the forecast period. This has also boosted the demand for recyclable metal cans made of steel and aluminum. Metal cans used for packaging food and beverages can be recycled and returned to the store shelf as a new can in about 60 days. Furthermore, the gas produced during the production of steel are recycled into the system and used for heating up the furnace, thus, reducing the need for additional energy. Thus, the growing adoption of metal cans as an effective and sustainable packaging solution will drive their demand in the food and beverage industry.

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As per Technavio, rise in adoption of reusable packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2020-2024.

Global Metal Cans Market for Food and Beverage Industry: Rise in Adoption of Reusable Packaging

Rising concerns about environmental pollution have increased the adoption of reusable packaging among consumers. Metal cans can be reused multiple times without losing out on the quality of the material. In addition, the need to minimize the use of plastic packaging has also led to an increase in the demand for reusable packaging. This has also encouraged major players in the market including TerraCycle Inc. to introduce circular delivery services to replace single-use disposable packaging with durable, reusable packaging. Furthermore, food and beverage companies are partnering with metal can manufacturing companies to offer their products in reusable containers. These initiatives by metal can manufacturers are further expected to drive market growth during the forecast period.

"Growth of organized retail and the launch of several campaigns supporting the use of metal cans will boost market growth during the forecast period," says a senior analyst at Technavio.

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Global Metal Cans Market for Food and Beverage Industry: Segmentation Analysis

This market report segments the global metal cans market for food and beverage industry by end-user (beverage and food) and geography (APAC, Europe, MEA, North America, and South America).

North America led the metal cans market share for food and beverage industry in 2019 followed by APAC, Europe, South America, and MEA. The growth of the market in this region can be attributed to the increased demand for sustainable packaging owing to rising concerns about environmental pollution. In addition, vendors in the market are launching new food and beverage products in metal can packaging, which will boost growth during the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

  • Geographic comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200110005339/en/

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