MARKET OVERVIEW- ASIA PACIFIC METAL CANS MARKET
Metal cans are widely used in the packaging systems. Metal cans 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, and growth in personal care products are the major factors driving the growth of the market.
MARKET DRIVER
The high demand for aluminum cans is expected to drive the market growth. The growing concerns regarding using and consuming sustainable packaging materials. It accounts for over one-third of the total global consumption of aluminum cans. The presence of aluminum producers and demand from packaging farms is also boosting the growth in Asia Pacific. Aluminum cans are environmental-friendly and sustainable solution for packaging in multiple applications. There are significant variations in the recycling rate of aluminum cans across the countries in Asia Pacific. For instance, Japan has one of the most organized networks of the aluminum scrap recycling. The growing use of metal cans for the packaging food and beverages provides an environment-friendly and sustainable solution for packaging in multiple applications. Further, the growing demand for eco-friendly cans is expected to drive the market growth. Eco-friendly packaging is easy to recycle, safe for individuals and environmental and is made out of recycled materials. It uses materials and manufacturing practices with minimal impact on energy consumption and natural resources. Thus, the growing awareness of eco-friendly metal can supports the growth of the metal cans market.
MARKET OPPORTUNITY
The expansion of the production capacities and the innovations in products being offered, along with the strategy of mergers and acquisitions adopted by the companies to increase their share in the market. For instance, in January 2022, Ball corporation invested around USD 131.4 million (INR 1,000 crore) in the development of two manufacturing plants for the production of aluminum cans and bottles in India. Thus, the growing production capacities is expected to drive the market growth.
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, the increase in the 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 Asia Pacific 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.
ASIA PACIFIC METAL CANS MARKET SEGMENTAL OVERVIEW
The Asia Pacific metal cans market comprises different market segment like material, fabrication, end-user and country.
ASIA PACIFIC 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 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.
ASIA PACIFIC 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 tins 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.
ASIA PACIFIC 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. Aluminum and tin-plated steel are primarily used for packaging the beverages, such as carbonated soft drinks, alcoholic beverages, herbal teas, energy drinks in addition to fruit and vegetable juices. The wide range of flavours attractive packaging, and high expenditure on the promotion of these products to gain consumer traction through various companies. In addition, an extensive rise in the demand for sports drinks and functional drinks among health-conscious consumers and sport athletes to keep their bodies fit and fresh is also driving the growth of the segmental market.
ASIA PACIFIC METAL CAN MARKET BY COUNRTY
By country, the metal can include key segment of
- India
- China
- Japan
- Rest of Asia Pacific
The China is expected to dominate the market over the forecast period. Increasing disposable income of people in the country drive the market demand, Also, the rise in the urban population and the rising prevalence of various online shopping platforms in country is further expected to fuel the growth and demand for metal cans. Also, China accounts for the majority of global aluminum and steel production and is characterized by the manufacturing of large quantities of metals at low cost as compared to its competitors. In addition, the availability of skilled labour at a low cost distinguished the Chinese market from its competitors in manufacturing metal cans.
COVID-19 IMPACT ANALYSIS ON ASIA PACIFIC MTEAL CAN MARKET
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the Asia Pacific metal Can market. In addition, complete analysis of changes on the Asia Pacific 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. Governments around the world 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.
In relation to global population growth, the metal packaging and coatings market continues to be a vital industry, particularly for food and beverage products. Impacted by the coronavirus pandemic this year, the global market will reach $112.4 billion in 2020, representing a fall of $4.8 billion compared to 2019, with the industrial segments hit especially hard. However, delays have been experienced due to country-specific travel restrictions and safety concerns. Also, the expansion projects by multiple beverage can manufacturers have helped the countries meet the growing demand for metal cans over the past few years. The positive growth will return in 2021, surpassing pre-COVID-19 levels.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Asia Pacific metal cans market is primarily focused on expanding the growth of the Asia Pacific metal cans market through new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the market has led to 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
- Thermo Fisher Scientific Inc.
- Bruker
- Magritek
- Oxford Instruments
- JEOL Ltd.
- Shimadzu Corporation
- Nanalysis Corp.
- Anasazi Instruments, Inc.
- QOneTec
- Advanced Magnetic Resonance Limited
- Acorn NMR
- Angstrom Advanced Inc.
- Ocean Insight
- Bruker
- Spinlock
RECENT DEVELOPMENT:
August 2020: The Chinese manufacturers of food cans, ORG technology, announced the launch of its white paper on the strategic development of food cans. The company focused on coated iron metal cans with moisture-proof, safety, environmental protection, corrosion resistance, anti-extrusion, and other characteristics to gain traction in the market.
February 2021: Responsible Whatr, a home-grown brand launched spring water in aluminum beverage cans made by ball corporation the world’s leading producer of aluminum packaging. The company intends to create a brand that signifies sustainability and became a significant contributor to the circular economy.
