Food tins and drink cans are expected to record a CAGR of 4.5% through 2032, with a current value of US$ 2.25 Bn in 2022, indicating that the market may record a CAGR of 4.5%. The market is likely to reach a valuation of US$ 3.49 Bn by 2032.
| Attributes | Details |
|---|---|
| Food Tins and Drink Cans Market CAGR | 4.5% |
| Food Tins and Drink Cans Market (2022) | US$ 2.25 Billion |
| Food Tins and Drink Cans Market (2032) | US$ 3.49 Billion |
There has been a growing trend of eating out regularly, which has led to a rise in the demand for canned food products that are easy to carry on the go or while travelling. It is undeniable that the global food tin and drink can market is experiencing vibrant growth on account of growing demand due to the modernization of consumer lifestyles that, in turn, induces manufacturers to use high-quality food grade containers in their production.
Further, the food packing industry has a lot of opportunities to take advantage of the plastic ban because it provides a lot of opportunities.
Manufacturers are increasingly focused on applying their products to the food tins and drink cans market. Additionally, the numerous advantages of Food Tins and Drink Cans are being exploited to store food for an extended period. This is to store them without refrigeration, to provide seasonal foods throughout the year, and so on.
Many types of food tins and beverage cans are used in the food and beverage industry, so these products need to be standardized to meet food-grade standards. A wide variety of uses for food tins and drink vans are currently being tried in the food and beverage industry. Therefore, all of these have to be standardized according to approved food grade standards.
Numerous prominent players have developed innovative can and bottle designs based on sustainable manufacturing principles to challenge the status quo. To build a circular economy, companies have launched a global initiative with the beverage industry to work with customers and consumers on packaging innovation to build a circular economy.
In this way, they can reuse materials instead of throwing them away after they have been used a single time. There is no doubt that the work is essential to the future of human prosperity as well as the basis of consumer loyalty among climate-conscious consumers.
The key players in the metal food packaging industry engage in active participation in industry events and numerous associations supporting the industry. Their commitment to scientific, technical, and regulatory research has allowed them to deliver state-of-the-art packaging solutions through ongoing scientific, technical, and regulatory research.
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Started from the developed countries and gradually adopted by consumers in developing countries, food consumption pattern witnessed dynamics shift over past decade. Meteoric growth in instant ready to eat and packaged food market, due to rise in dual income level, standard of living and convenience offered by newer format of food consumption. Canned food and beverages have integrated with urban lifestyle, particularly in developed as well as developing geographies.
Food tins and drink cans are most effective solution equipped with all features needed for storage and transportation. Food tins and drink can also preserve the nutrition value and flavor of the product. Food tins and drink cans are a good means of safely preserving of foodstuffs for longer duration without any microbiological deterioration as these tins and cans are made from corrosion resistant materials.
Most countries across globe have started to invest in infrastructure such as deep freezing mechanism which is required for proper storage of ready to consume food and keep food temper resistant with increased shelf life. Food tins and drink cans are becoming an asset in packaging for manufactures as they incur very less cost packaging solution and thus provide value to the manufacturers.
Also, these tins and cans can be manufactured in large quantity in any size and shapes. This all derives tins and cans market all across the globe. On the other hand, people across world has grown health conscious and thus avoids consumption of an industrial chemical called Bisphenol A or BPA which can seep into food and beverage stored in tins and cans leading to diseases such prostate and breast cancer thus hampering growth of food tin and drink can market.
Moreover, the inclination of manufacturers as well as customers towards new pouches and thin plastic packaging, hampers the growth of metal food tin and drink can market. Also, customers want packaging with features such as tins and cans to be used in the microwave, re-sealable packaging and also easy opening patterns. This has acted as the important restraining factors for the metal packaging container market.
Principal Consultant
The majority of cans and tins used for food and beverage packaging all over the world are made up of steel. Aluminum cans are mostly preferred in beverage packaging mostly for carbonated drinks.
Geographically, the food tins and drink cans market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). Among regions mentioned above, North America bags a significant share and it is expected to maintain as market leader during the forecast period as it provides a better freezing facility for the storage of food tins and drink cans.
Asia’s Food and Beverages market shall experience an unprecedented growth taking half of the consumption by 2021 thus contributing to growth of global food tins and drinking can market. Overall, the global food tin and drink can market is expected to register a healthy CAGR during the forecast period.
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Some predominant players identified across the globe are Crown Holdings, Cansmart, Silgan Containers LLC, Jamestrong Packaging, Kian Joo Can Factory Bhd, Perennial Packaging Group Pty Ltd, Allstate Can Corporation, TinPak (Pvt) Ltd. and BALL CORPORATION.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The Global food tin and drink cans market has been segmented as follows
Based on the material used
On basis of product type
Based on the end use
On the basis of packaging types
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Food Tins And Drink Cans Market
