San Francisco, California, Jan. 13, 2015 (GLOBE NEWSWIRE) -- The global market for metal cans 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.
Access In-depth research report on Global Metal Cans Market: http://www.grandviewresearch.com/industry-analysis/metal-cans-market
Beverages were the largest product segment with consumption of 280,809.8 million cans in 2013, expected to reach 347,915.3 million cans in 2020, growing at a CAGR of 3.1% from 2014 to 2020. The demand for metal cans in beverages is expected to rise due to its benefits such as excellent protection from ultraviolet rays and extended coolness. Moreover, product differentiation and innovation in shape and size of metal cans is expected to boost their demand in beverages. Within beverages, alcoholic beverages dominated market with demand exceeding 127,300.0 million cans in 2013, and generated revenue of USD 16.12 billion in 2013.
Further key findings from the study suggest:
- The global metal cans demand was 354,128.3 million cans in 2013 and is expected to reach 431,573.9 million cans by 2020, growing at a CAGR of 2.9% from 2014 to 2020.
- In terms of revenue, North America was the largest market for metal cans accounting for over 31.0% of global market share, valued at USD 14.16 billion in 2013. The market is expected to show rapid growth due high consumption of canned beverages and processed foods in the region.
- Asia Pacific demand for metal cans was 94,764.7 million cans in 2013, and is expected to witness fastest growth owing to increasing disposable income coupled with growing preference towards canned food and is expected to grow at an estimated CAGR of 4.3% from 2014 to 2020.
- In 2013, vegetables accounted for the largest food type segment with market share of over 43.0%. Market demand was 24,156.1 million cans in 2013 and is expected to witness lucrative demand growth, at an estimated CAGR of 1.9% from 2014 to 2020.
- Key participants in global metal cans market include CPMC Holdings Ltd., Amcor Ltd., Siligan Containers Corporation, Ardagh Packaging Group Plc., Crown Holdings Inc. and Sonoco Phoenix Inc.
For the purpose of this study, Grand View Research has segmented the global metal cans market on the basis of product and region:
Metal Cans Product Outlook (Volume, Million Cans; Revenue, USD Million, 2012 - 2020)
• Carbonated Soft Drinks
• Alcoholic Beverages
• Fruit and Vegetable Juices
• New Drinks
• Soups and Miscellaneous Foods
• Other Foods
Metal Cans Region Outlook (Volume, Million Cans; Revenue, USD Million, 2012-2020)
• North America
• Asia Pacific
Get more information on Metal Cans Market: http://www.grandviewresearch.com/industry-analysis/metal-cans-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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