Food & Beverage Metal Cans Market by Material (Aluminum & Steel) Worth $49.20 Billion by 2019 at CAGR of 2.9% - New Report by MarketsandMarkets
(PRWEB) September 19, 2014 -- MarketsandMarkets report "Food & Beverage Metal Cans Market by Application [Beverages (Alcoholic, CSD, Sports & Energy Drinks, Others), Food (Fruit & Vegetable, Convenience Food, Pet Food, Meat & Seafood)], by Material (Aluminum & Steel) - Global Forecast to 2019", published by MarketsandMarkets, defines and segments the Food & Beverage Metal Cans Market with analysis and projections of each application in terms of volumes and values. The application market is sub-segmented in terms of end use applications and the market size is forecasted in terms of volume (billion units) in the major regions: North America, Europe, Asia-Pacific, and Rest of the World (ROW).
Browse 89 market data tables with 76 figures spread through 162 pages and in-depth TOC on "Food & Beverage Metal Cans Market - Global Forecast to 2019".
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The food and beverage metal cans market is driven by the key market players with expansions and investments as their preferred strategy to sustain the competition in the market and garner a larger market share.
The Food & Beverage Metal Cans Market report includes both the applications and materials used for manufacturing metal cans. The Food & Beverage Metal Cans Market by value ($billion) is projected to grow at a CAGR of 2.9%, from 2014 to 2019. Rise in environmental concerns among the can manufacturers as well as end users, together with ease of recycling & reusing metal cans as compared to PET is driving the demand for food and beverage metal cans. Increasing usage of plastic packaging types such as PET bottles and growing demand for cartons act as a major threat to the Food & Beverage Metal Cans Market.
Beverage application holds the majority share in the application market. This is mainly due to the companies looking to provide convenience factor for consumers while consuming beverages. In beverage applications carbonated soft drinks (CSD) held the majority share while sports and energy drinks exhibited the fastest growth. Growth of beverage consumption in emerging markets such as China, India, Indonesia, Africa, Middle East and Brazil is set to drive demand for beverage metal cans. There is a stark difference in terms of raw material usage in beverage and food applications. Beverage cans are mostly made up of aluminum while steel is predominantly used for food metal cans.
The Food Metal Cans Market is projected to reach 102.5 Billion units by 2019. Globally, the changing lifestyle of the people and increasing consumption of readymade meals is driving the demand for food metal cans. The emerging economies in the Asia-Pacific region hold attractive growth prospects for this market in the coming years due to their rising disposable income, increasing population and rapid urbanization. Food can applications mainly comprise of vegetables & fruits, convenience food, pet food, meat & seafood, and others. The others segment includes bakery and confectionary, pastas, chocolates, etc. Vegetables & fruits are the major contributors for the food metal cans market, followed by meat and seafood products. Convenience food is projected to be the fastest growing application due to the rising demand for convenience food products. Demand for meat and sea food products is also projected to be higher due to increasing consumption of these products.
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The report includes development strategies and product portfolios of the leading companies. The profiles of leading companies such as Ball Corporation (U.K.), Can-Pack S.A. (Poland), CPMC Holdings (China), Crown Holdings Inc. (U.S.) and Rexam PLC (U.K.) have been included in the report. The report further provides qualitative analysis of the prominent market players and their preferred development strategies.
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