Albany - NY, Oct. 21, 2015 (GLOBE NEWSWIRE) -- In the early 1990's, the metal can manufacturing industry experienced a huge leap in demand for its products due to three major reasons: rising costs of existing materials used in the packaging industry, major improvements in metal can manufacture along with slight cost reductions and the end of the cold war which opened up new and emerging markets in the Asia-Pacific region. Add to this the fact that metal cans could be easily recycled and re-used in an in-expensive manner by simply melting the waste. Metal can manufacturing thus became an industry within an industry and started generating huge revenues. As a growing market within the food and beverage industry, metal cans occupy about 70% of the metal packaging segment around the world.
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The packaging industry can be broadly classified into food and beverage packaging and non-food packaging. Of these, the food and beverage packaging segment is further divided into metal packaging, polymer packaging, cardboard and reinforced paper, glass bottles and others. Metal cans are the major component of the metal packaging segment and are further available in different forms for use in beverages, canned food, pet food and others.
Some of the major factors driving the metal cans market are the increasing spending power in developing countries of the Asia-Pacific region, growing demand for beverages around the world, increasing interest in the packaged foods segment from developing countries for convenience of storage and use and other such reasons. The main restraining qualities of the metal can packaging industry is the still-prevalent human perception of wanting "fresh & organic foods and beverages," the ready availability of glass and cardboard as alternatives to metal cans and environmental concerns due to improper recycling standards and non-implementation of recycling methods in most of the developing countries.
The metal cans industry has been innovating continuously to improve their products. Initially tin was the major metal used in can production which was then replaced by steel and aluminum. With the introduction of steel and aluminum, the ever-increasing safety and hygiene parameters were satisfied and this led to a boom in the metal cans market. Opportunities for R&D gave rise to different designs and structures of cans, the most notable of which are the 3-piece metal cans which are considered as one of the safest and most reliable design and present new market avenues in the Asia-Pacific region.
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Moreover, perishable foods can now be stored for longer in these types of cans and this could result in higher revenue for metal can manufacturers. With high degree of competition among beverage companies, personalized designing is also expected to pave the way for increased sales in this industry. Some of the major players in the metal cans manufacturing market are ALCOA INC., BALL CORP., CAN-PACK S.A., REXAM PLC, SONOCO PRODUCTS CO., TOYO SEIKAN KAISHA LTD. and others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends.
Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter's five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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Source:Transparency Market Research