Albany, New York, Jan. 14, 2015 (GLOBE NEWSWIRE) -- A study published by Transparency Market Research titled, "Metal Cans Market for Foods - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019". According to the report, global metal cans market was valued at US$43.81billion in 2012 and is expected to reach US$51.60 billion at a CAGR 2.4% during the 2013 - 2019 forecast period.
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The global metal cans market is driven by factors such as increasing demand for canned food and beverages, increasing demand of aerosol cans, and high recycle and recovery rates. Factors such as fluctuating raw material prices and increasing demand for substitutes will restrain the market. However, factors such as product differentiation through high-quality cans graphics; and initiatives towards eco-friendly products and practices will further boost the global metal cans market.
The global metal cans market according to the product types is segmented into beverages, food, and others (aerosol, paints). Growing demand for beverages will rise the metal cans demand for packaging due to its benefits such as long shelf life, recyclability, excellent barrier from bacterial contamination, and ultraviolet rays. Metal cans demand for packaging was the highest in the beverage product segment with 70% of the total market share in 2012, and is expected to be the fastest growing segment in near future. Beverage is classified into two types of products such as alcoholic and non-alcoholic beverages. Alcoholic beverages segment was the largest product segment in beverages product segment with 40% of the total metal cans demand in 2012. Non-alcoholic beverages segment that includes sports drinks, nutritional drinks, and energy drinks is expected to show a significant growth in the next six years due to the increasing awareness about health benefits and rising sports activities.
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The food cans market is expected to show a below average growth in future due to consumers inclination towards fresh and organic food. Vegetables was the largest product sub-segment within foods sector, and held total 40% of the food market share in 2012. Demand for metal cans within the food segment is expected to show a good growth in fruits product segments in near future. Factors such as increasing awareness about metal cans retaining flavor and nutritional value of the products are expected to witness substantial growth in fruits sub-segments within the foods segment during forecast period.
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Region-wise, the global metal cans market is segmented into North America, Europe, Asia Pacific, and Rest of the world (RoW). Europe dominated the Global Metal Cans Market and was the leader for metal cans with 30% of the market share in 2012. Increasing demand for alcoholic beverage especially beer in Eastern Europe is expected to increase the demand for metal cans in the next few years. After Europe, Asia Pacific was the second largest consumer for metal cans market in 2012. Asia Pacific market for metal cans is expected to show the highest growth due to improvement in consumer purchasing power and increasing availability of canned food in retail store. Regions such as China and India are expected to dominate the Asia Pacific region for metal cans in the next few years due to development of new manufacturing plants and availability of low cost labor and raw materials.
Other Published Reports by Transparency Market Research:
Bottled Water Market: http://www.transparencymarketresearch.com/bottled-water-market.html
Food Service Equipment Market: http://www.transparencymarketresearch.com/food-service-equipment.html
The major player of global metal cans market are BWAY, Amcor, Ball Corporation, Rexam Plc, and Crown Holdings.
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Source:Transparency Market Research