Bio Cans Market: An Overview
Currently, aluminium is majorly used in the production of cans. Aluminium as a metal can be infinitely recycled and hence does not possess any threat but the portion of aluminium that ends up in the waste field or rivers can take up to 500 years to decompose. Biodegradable cans are a sustainable way of dealing with the waste problem as they have the capacity to decompose in a short period. Bio cans like other biodegradable products can be made from the process of extraction of sugar from the plants also known as bioplastics or from paper.
The bio cans market is still evolving and there are a lot of research projects going on in this sector as with the increase in the per capita income of the consumers globally and general awareness on the topic of waste management they are looking for the product packed in sustainable and degradable material. In the attempt to reduce their carbon footprint many conglomerates are continuously taking steps towards maximizing the use of biodegradable materials in their operations.
Bio Cans Market: Dynamics
The market size of the beverage cans is growing rapidly with the increasing popularity of sports and energy drinks which is the result of consumer awareness regarding the health benefits in reducing fatigue, improving hydration levels and boosting energy. Currently, there are very few alternatives in the beverage cans sector that are sustainable in nature which give the bio cans market huge potential to grow and replace the traditional packaging material.
According to the American Pet Products Association (APPA), a leading non-profit industry association founded in 1958, the pet products industry has crossed the annual sales of $100 billion in the year 2020 which is the highest level it has ever reached. Cans are used widely in the pet care industry for packaging food items and most of them are made from metal or non-biodegradable plastics The bio cans market is still developing in this sector and potential to replace the ongoing practices with more nature-friendly way.
UN Environment Programme report in 2018 stated that plastic waste of 13 million tons approximately lands into the oceans every year. There is a rise in various measures taken by the governments and federal agencies to cope with the waste disposal and generation problem like banning or controlled the use of single-use plastics that adversely affect the environment has served the companies with the need to adapt biodegradable alternatives for packaging. The usage of bio cans will not only help in reducing and managing solid waste but also will help in reducing the consumption of electricity, emissions and water usage as well. Consumers now are aware of the problem and are looking for companies that can provide an alternative that can reduce the environmental impact causing an increase in demand for the bio cans.
Covid-19 has led to a change in the buying habits of consumers concerning food and beverages. The demand for packaged food products and takeaways or home deliveries has significantly increased and this has created a huge opportunity for the bio cans to replace the existing packaging material. The use of foods served in single-use packaging has shown a rise in the current pandemic giving the bio cans market an edge in the food packaging sector. Bio cans can be used in the packaging of most food items like bakery goods, dried snacks, fresh food packaging, etc. and can provide a sustainable choice to the business owners in an effort of protecting the environment.
Bio Cans Market: Segmentation
The bio cans market can be segmented by material, packaging format and end-use industry.
By Material, bio cans market can be segmented as
- Bio Plastics
- Polylactic Acid (PLA)
- Polybutylene Succinate (PBS)
- Starch blends
By Packaging Format, bio cans market can be segmented as
- Single-Use Packaging
- Reusable Packaging
By End-Use Industry, bio cans market can be segmented as
- Alcoholic Beverages
- Non-Alcoholic Beverages
- Processed Food
- Homecare & Personal care
Bio Cans Market: Regional Outlook
Europe region currently contributes the major share in the bio cans market owing to the constant innovations and general demand for the environmentally friendly alternatives. The region holds considerable growth and potential for the bio cans market manufacturers due to circular and low-carbon economy and the support of the government policies for bio-economy. In Europe, the retailers like Dirk Rossmann GmbH, Carrefour S.A., Coop, etc. prefer the use of sustainable options over other packaging options. Furthermore, the growth in awareness in the other regions will help increase the demand for bio cans. The increase the in volume per capita implies a strong growth in the bio cans market. The bio cans market has a huge potential in the Asia Pacific region as with the high population density comes the need for reducing and managing the waste problem and bio cans can prove to be very useful in that sector.
Bio Cans Market: Key Players
Key players in the bio cans market are,
- Smurfit Kappa Group plc
- Mondi plc
- WestRock Company
- NatureWorks LLC
- Tianan Biologic Materials Co. Ltd
- Amcor plc
- Total Corbion PLA
- Clearwater Paper Corporation
- Novamont S.p.A.
- Arkema S.A.
- Matrica S.p.A.
- Kruger Inc.
The report bio cans market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on cement packaging market segments and geographies.
Regional Analysis Includes-
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- A detailed overview of parent market
- Changing bio cans market dynamics in the industry
- In-depth bio cans market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments in the bio cans market
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for players to sustain and enhance their market footprint
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.