A detailed study on Food can market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.
The global food can market is slated to register a value CAGR of 3.9% throughout the forecast period ranging from 2022 to 2032. As per Future Market Insights, a valuation of US$ 23.1 Billion is expected for the market in 2022. By 2032, demand for food cans is forecast to reach US$ 33.86 Billion.
As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Food can market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales Food can in the coming 10-years.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Food can
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Food can market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Food can Market Takeaways and Projections
- The U.S. is expected to lead the North America Food can market, projecting the fastest growth in the region between 2022-2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Food can market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global Food can market. Some of the players in the global Food can market are
- Ardagh Group
- Wells Can Company
- Kian Joo Group
- CPMC Holdings
- Kingcan Holdings Limited
- CAN-PACK S.A
Food can Market: Market Segmentation
The global food cans market has been segmented as follows –
On the basis of material, the global food cans market has been segmented as:
- Aluminum
- Steel
- Plastic
- Others
On the basis of application the global food cans market has been segmented as:
- Pet food
- Convenience Food
- Fish & Seafood
- Fruits & Vegetables
- Others
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