San Francisco, 29 June 2020: The Report Metal Cans Market Size & Trend Analysis By Product (Carbonated Soft Drinks, Alcoholic Beverages, Fruit and Vegetable Juices), By Region, And Segment Forecasts, To 2020
The global metal cans market is expected to reach USD 52.83 billion by 2020, according to a new study by Grand View Research, Inc. Metal cans are steel or aluminium container mainly used for the storage of goods such as beverages, foods and chemicals. Increasing environmental benefits coupled with growing demand for beverages and canned foods are expected to drive metal cans demand over the next six years. In addition, fast recycle rate for metal cans in comparison to conventional materials such as glass and plastics is further expected to augment its market growth. Technological innovation and use of eco-friendly products are further expected to serve as key growth opportunity.
Increasing per head disposable income, altering way of life, growing requirement for non-alcoholic and alcoholic beverages, increasing necessity for processed food items, these are some of the most important factors, boosting the development of the global market for metal cans.
Unpredictable prices of raw material, manufacturing policies, for making metal cans and use of substitute materials such as plastic and paper, which can be utilized in microwave oven, however metal cans cannot be used in oven. These factors are likely to impede the general development of the market.
Growing demand for canned products, ecological benefits due to the capacity of speedy recyclability are the factors projected to show optimistic effect on the global market for metal cans in forthcoming period. Owing to its diverse features for example effortlessly recyclable, hermetically sealed cover, resistance to irregular handling and transportation, these cans are getting importance. Differentiation of product and the utilization of biodegradable materials may also offer huge opportunities for market growth.
Access Research Report of Metal Cans Market @ https://www.grandviewresearch.com/industry-analysis/metal-cans-market
Metal Cans Market Report Highlights
- By Region, the global market for Metal Cans can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America held substantial share of the entire revenue and appeared as leading region in the past years. Increasing ingestion of alcoholic beverages and beer is expected to drive regional industry for these cans in forthcoming period. Rising consumption of canned and frozen food items in the U.S.A., is projected to impel the development in forthcoming period.
- Europe was the subsequent biggest regional market. It held a substantial revenue share in the past. Increasing consumption of beer, along with initiatives taken by European Commission regarding recycling of metals and chemicals is estimated to boost the development of the metal cans market in forthcoming period.
- Asia Pacific is projected to observe the speedy development in forthcoming period. Inspiration from western traditions, accessibility of extensive variety of beer at volatile charges and growing disposable income these factors are estimated to increase demand for beer in Asia. Furthermore, increasing ingestion of beer by the youngsters is expected to be one of the major factors, contributing to the growth of the market for metal cans.
Access Press Release of Metal Cans Market @ https://www.grandviewresearch.com/press-release/global-metal-cans-market
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