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Food Cans Global Market Report 2021: COVID-19 Growth And Change

Food Cans Global Market Report 2021: COVID-19 Growth And Change

  • October 2021
  • 175 pages
  • ID: 6173896
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the food cans market are Crown Holding Inc., Ardagh Group, Kian Joo Group, Silgan Holdings Inc., Can-Pack S.A., Envases del Plata, CPMC Holding Limited, Wells Can Company, Toyo Seikan Group Holdings Ltd, Aaron Packaging Inc., Jamestrong Packaging, Kingcan Holdings Limited, HUBER Packaging Group GmbH, Tetra Laval International S.A., and Independent Can Company.

The global food cans market is expected to grow from $24.41 billion in 2020 to $25.91 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $32.69 billion in 2025 at a CAGR of 6%.

The food cans market consists of sales of food cans by entities (organizations, sole traders, and partnerships) that manufacture containers for the distribution or storage of food and beverage items.The food is processed and sealed in airtight containers with tops that can be lifted and replaced.

These cans are used to store a variety of fruit, vegetables, dairy, fish, meat, ready meals, pet food, infant milk powder, and other food products.

The main types of materials used for food cans are aluminum and steel.Aluminum cans are made from alloys of aluminum, which are generally strong and very lightweight The food cans used usually are either 2-piece cans or 3-piece cans.

The food cans are used in meat, poultry, and seafood, pet food, bakery and confectionery, sauces, jams and pickles, fruits and vegetables, tea and coffee, others.

North America was the largest region in the food cans market in 2020.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Recyclable aluminum cans are shaping the food cans market.The companies operating in the food cans sector are increasingly focusing on recyclable aluminum cans to strengthen their position.

For instance, in July 2019, Ardagh Group, a Luxembourg-based producer of glass and metal products launched a new slimline 187ml are specifically designed to present and protect wine and wine-based drinks.The can is airtight, lightproof, and shatterproof and is composed of 100% recyclable aluminum.

Both the can end and the body of this innovative design has unique requirements to preserve the wine’s quality throughout filling, transit, and storage.

In August 2019, Envases del Plata S.A., an Argentina-based aluminum packaging solutions company acquired Ball Corporation’s tinplate steel aerosol packaging facilities in Garin and San Luis, Argentina for an undisclosed amount. The acquisition strengthened the product portfolio of Envases del Plata S.A. and would aid in further growth in the region. Ball Corporation is a US-based company that provides innovative, sustainable aluminum packaging for beverage, personal care, and household products.

The increase in the penetration of organized retail is expected to be a major driver of the food cans market over the coming years.Increased disposable incomes, shifting consumer preferences and tastes, shifting demographic profiles, and increased expenditures are all contributing to the organized retail sector’s growth.

Vendors rely on the organized retail sector to distribute and sell their products, and large organized retailers carry vast volumes of canned foods and beverages in their stores. For instance, according to the Retailers Association of India (RAI), the share of the organized retail market is expected to grow to 22-25% by 2021 in India, which is expected to increase the sales of food cans in the country.

The countries covered in the food cans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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