MARKET OVERVIEW- NORTH AMERICA METAL CANS MARKET
Metal cans are widely used in the packaging systems. They are characterized by hermetically sealed lids, resistance to transport and improper handling, and ease of recycling. It is composed of steel, tin, and aluminium. Metal cans are used in several industries for the packaging of product but it is widely used in food and beverages industry for distribution and storage of products. Metal cans are lightweight and simple to stack. The changing consumer lifestyles, increasing use in the food and beverage packaging industry, are the major factors driving the growth of the market.
MARKET DRIVER
The increasing demand for packaged food owing to changing lifestyles of individuals is expected to drive the market growth. Increasing efforts by market players such as Nestle, the Coca-Cola company, the Tyson Foods on the improvement of quality, better packaging, and lowering costs along with availability of high technological advancements, mainly in developed countries U.S., and Canada are further likely to fuel the growth of the North America market at a healthy rate in the coming years. Also, the rising demand for eco-friendly cans is expected to drive the market growth. Metal cans are very eco-friendly in nature and these metal cans highly recycled compared to other material such as plastic or glass. Metal cans are recyclable and can be reused and recycled again and again without any loss in their performance. Increasing public awareness about environmental concerns and pollution caused due to conventional packaging has resulted in higher demand for eco-friendly packaging, which is largely expected to boost growth in the North America eco-friendly metal can market. Thus, the growing awareness of eco-friendly metal can supports the growth of the metal cans market.
MARKET OPPORTUNITY
The rise in the number of product innovation is expected to provide an ample opportunity for the market. The increasing trend for the canned food in the market are enforced the manufacturers to create innovative packaging solution, with a rise in demand for the chemical-free canned foods, encourage the manufacturers to focus on innovations in packaging. Thus, the innovations in the packaging industry that are free of harmful bacteria make these canned foods an excellent source of nutrients, facilitating the growth of the metal can in the future.
MARKET RESTRAINT
The volatility in raw material prices, and the lack of the microwave's ability compared to other alternatives such as paper and plastic can limit the market. Also, the presence of polymeric materials for packaging applications restricts market growth. These factors are expected to restraint the market growth.
MARKET GROWTH CHALLANGE
The increasing use of bio-based plastics in food and beverage packaging poses a major challenge for metal can manufacturers in the market. Therefore, increasing adoption of bio-based plastics for the packaging industry, mainly food and beverage can makers, will challenge the growth rate of the market.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the North America metal can market including, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The high demand for the sale of aerated and non-aerated beverages is expected to witness metal can market growth at a specific CAGR from 2022-2028.
NORTH AMERICA METAL CANS MARKET SEGMENTAL OVERVIEW
The North America metal cans market comprises different market segment like material, fabrication, end-user and country.
NORTH AMERICA METAL CANS MARKET BY MATERIAL
By material, the metal cans include key segment of
The aluminium cans segment is expected to dominate the market over the forecast period. This is so because aluminium is a lightweight material and is extremely non-reactive. Also, due to the higher recycling rates, aluminum cans are seeing increased penetration of metal cans. The relative sustainability of aluminum as a base material has led metal manufacturers to use this material to meet consumer demand of environmentally friendly products and packaging.
NORTH AMERICA METAL CANS MARKET BY FABRICATION
By fabrication, the metal cans include key segment of
- Two Piece Metal Can
- Two Piece Drawn and Ironed Cans
- Three Piece Metal Cans
- Sculptured Metal
The two-piece metal can segment is expected to dominate the market over the forecast period. Two-piece cans are easy to make, durable and very convenient to carry and stack. Two-piece metal can provide superior protection to extend shelf life and reduce food waste. Two-piece can consist of a can body and a removable end, and they are commonly used for beverages, such as soft drinks, beer, and energy drinks, as well as, for food products, such as soups and vegetables.
NORTH AMERICA METAL CANS MARKET BY END-USER
By end-user, the metal cans include key segment of
- Food & Beverage
- Cosmetics and Personal Care
- Pharmaceutical
The food and beverage segment are expected to dominate the market over the forecast period. Metal cans are most widely used for beverages. The most notable trend of canned wine, cocktails, hard drinks, and soft drinks is packaged in metal, driven by the need for portability in North America. The usage of metal cans in the beverage industry can be widely classified into alcoholic drinks and non-alcoholic drinks based on the nature of the beverage. The change in consumer trends towards healthy drinks are boosting the market for metal cans.
NORTH AMERICA MEAL CAN MARKET BY COUNRTY
By country, the metal can include key segment of
- United States
- Canada
- Mexico
United States is expected to dominate the market over the forecast period. The U.S. metal cans market held the largest market share. The growing demand for different healthy beverages, carbonated soft drinks, health drinks, and sucralose juices. Also, several significant players impact the business’s development through extensive efforts and new research. The rising popularity of canned beverages, increasing demand for convenient and portable packaging solutions, and the need for sustainable and eco-friendly packaging solutions.
COVID-19 IMPACT ANALYSIS ON NORTH AMERICA METAL CAN MARKET
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the North America metal Can market. In addition, complete analysis of changes on the North America metal Can market expenditure, economic and international policies on supply and demand side is included in this exclusive report. The report also studies the impact of pandemic on economies, international trade, business investments, GDP, and the marketing strategies of key players present in the market. The COVID-19 outbreak has affected various industries around the world. The metal can market has also had a huge impact. As the governments around the country have taken strict measures such as border seals, lockdowns and implementing strict social distancing measures to stop the rapid spread of COVID-19. These measures have had serious repercussions on the global economy, affecting various industries. These factors are expected to affect the demand for metal can market.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the metal can market is primarily focused on expanding the global growth of the metal can market through new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the market has led to the growing demand for the market. Besides, the market offers a range of products to fulfil the required demand of consumers, which further contributes to healthy growth in the market.
The key players studied in market are
- Independent Can Company
- SKS Bottle & Packaging
- Crown Holdings Inc
- Silgan Containers LLC
- Caira Can Company Limited
- Toyo Seikan Co LTD
- BWAY Corporation
- Kian Joo Group
- Amcor Ltd
- Berlin Packaging Company
- Dongwon Group
RECENT DEVELOPMENT:
MARCH 2021: Ball Corporation, along with the partnered company Damm, one of the leading beverage companies in Spain, introduced ASI’s (The aluminum stewardship initiative) aluminum cans for storage and packaging of beer in North America. This is expected to increase the sales performance of the company.
FEBRUARY 2021: Ardagh Group agreed to merge its metal packaging business with Gores Holdings V, creating a publicly listed company. The agreement will see Gores Holdings V, a unique purpose acquisition company, merge with Ardagh’s metal packaging division to form the newly created Ardagh Metal.
