Composite Cans Market Analysis: Maximum of the Revenue to be generated by the Spiral Winding Segment in 2018
The global market for Composite Cans was valued at US$ 3,597.2million in 2017. The market is forecast to expand at a CAGR of 5.2% during the forecast period, 2018-2026.
Composite cans are cylindrical paper tube that usually has a body made of several layers of Kraft paper wounded by spiral, convolute and linear draw winding method. Spiral Wound Cans are made by diagonally winding and gluing four layers of material together. The bottom layer is usually tin or foil, the two middle layers are usually paper board, and they serve to give the can its structure. Composite Cans are used mainly for packaging everyday household items like coffee whiteners, diet drinks, bread crumbs, hot chocolate mixes, nuts, cakes, spices, tea, cleaning gels and baking sodas among others. Composite Cans offer several advantages such as cost-effectiveness, environmental safety (composite cans are mostly made from recycled products), durability, versatility and user friendliness in general. Child-resistant and tamper evident dispenser tops are available for product safety in composite cans. Composite cans are used to package dry beverages such as powdered drinks, tea and coffee. Composite cans are suitable for ambient and cold fill. Composite can characteristics include excellent interlaminate bond strength, high heat resistance, high splitting resistance of cardboard base, extended shelf-life due to aluminum barrier and great barrier against gas. Composite cans replace the tin containers since the latter are heavier, costlier and corrosive.
The global market for Composite Cans market is segmented as per closure type, production technique, can diameter and end use. Variety of closure options available for composite cans offer consumer convenience for product handling. Composite cans are available in various closures. Can closures can be made if materials such as metal, paperboard or plastic. A single can have more than one material closure. For instance; Pringles Chips composite can has an aluminum foil membrane and has a snap open lid made of plastic. The bottom end of the composite can is made of metal. Composite cans are also available with Re-sealable lids which protect the contents and allow multiple use. Light weight and eye catchy designs drives the market for global composite cans. Composite cans can be manufactured in almost any shape or size: tall and skinny, short and broad, easily meeting the consumer specific requirements. These variety of sizes in height and diameter allows composite cans to have a demanding presence on the retail shelf. The growing demand for potato chips is expected to fuel the composite cans market during the forecast period. Potato chips and crisps are one of the most popular snacks consumed worldwide.
Consumer preference for composite cans:
Consumers disliked having to transfer food to another container after opening. Composite cans have an easy-to-reseal plastic lid, which means customers don’t have to transfer the food to a different container.
EASE OF OPENING
Consumers also disliked having to use a can opener to get into the packaging. Manufacturers are offering an easy-peel membrane and a resealable lid for the composite can. With this simple, peelable film or a quick pop of the lid, consumers can open the composite can right away without special equipment.
Customer and end-use consumer benefits:
Customer Benefits: Composite cans are easy to run on standard membrane sealing machines and seamers. Composite cans offer a simplified supply chain. Due to the light weight of composite cans they are easy to package and transport and saves shipping costs.
Consumer Benefits: Easy opening of the composite cans provide consumer convenience. High barrier options offer product freshness and aroma preservation.
- Manufacturers are attempting to have their composite cans certified as biodegradable. Companies are investing in R&D that will help find new components to the can bringing new options. Manufacturers are coming up with cardboard end, body and the bioplastic lid to keep the same preservation but to offer a new trend.
- Beverage packaging is undergoing several developments and one of them includes paperboard or composite cans for beverage packaging. These developments are pioneering in the aseptic can as well as the composite can packaging field. Composite cans are used to pack energy drinks in Germany. Composite cans are favored by European packaging laws and is classified as “Ecological Favorable Packaging”
- Sonoco, world’s largest producer of paperboard cans or composite cans, entered its UK subsidiary, the market for paperboard cans for liquids. Sonoco offered paperboard cans for the packaging of motor oils.
- Pangea Organics offers skincare products. The company provides facial and body care products. Pangea Organic’s packaging for Ecocentric body/skin care products is plantable. The composite can contains seeds of medicinal herbs that are present in the product packed in the box. After planting the box, medicinal herbs spring out of the seeds, giving the consumer the pleasure of growing flower by planting the empty jar.
Spiral Winding segment of composite cans market was valued at US$ 2,041.4 million in 2017 and is expected to expand at a CAGR of 5.9% over the forecast period 2018-2026. On the basis of closure type, composite cans market is expected to create incremental $ opportunity of US$ 2,081.5 Million, during the forecast period. The Food & Beverage segment is valued at US$ 1,232.9 Million in 2017 and is expected to reach US$ 2,033.5 Mn, by the end of the forecast period (2016). Production Type segment is anticipated to register a CAGR of 5.2%, during the forecast period.
Key players operating in the global market for Composite Cans include Sonoco Products Company, Amcor Ltd, Smurfit Kappa, Mondi Group, Ace Paper Tube, Irwin Packaging Pty Ltd, Halaspack Bt, Quality Container Company, Nagel Paper, and Corex Group Tinpak.
In this report, Transparency Market Research offers 8-year forecast of the global Composite Cans Market between 2018 and 2026. In terms of value, the global Composite Cans Market is expected to expand at a CAGR of 5.2% during the forecast period. The study reveals Composite Cans Market dynamics in seven geographic segments along with market analysis for current market environment and future scenario over the forecast period of the global Composite Cans Market.
This Transparency Market Research report studies the global Composite Cans Market for the period 2018–2026. The prime objective of this report (Composite Cans Market) is to offer insights and key market trends pertaining to Composite Cans Market that are gradually helping transform global businesses.
The global Composite Cans Market report begins with the executive summary for various categories and their share in the Composite Cans Market. It is followed by market dynamics and overview of the global Composite Cans Market, which includes TMR analysis of market drivers, restraints, opportunity analysis and trends that are affecting growth of the Composite Cans Market. Furthermore, to understand the popularity of the Composite Cans segment, the attractiveness index and BPS analysis with elaborated insights on the same is provided, which will show the market’s attractiveness based on factors such as CAGR and incremental opportunity. To show the performance of Composite Cans Market in each country and region, BPS and Y-o-Y growth analysis is provided.
The global market for Composite Cans is further segmented as closure type, production type, can diameter and end use. On the basis of closure, global market for Composite Cans is segmented into caps and lids. On the basis of production type, global market for Composite Cans is segmented into spiral winding, convolute winding and linear draw. On the basis of can diameter, the global composite cans is segmented into less than 50mm, 50mm-100mm and 100 mm & above. On the basis of end use, the global market for Composite Cans is segmented into food & beverage, textiles & apparels, agriculture, consumer goods and industrial applications.
The next section of the report highlights the Composite Cans Market, by region, and provides the market outlook for 2018–2026. The study investigates the Y-o-Y growth regionally, as well as analyses the drivers that influence the regional Composite Cans Market. Main regions assessed in this report include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). The report (global Composite Cans Market) evaluates the present scenario and growth prospects of the regional Composite Cans Market for 2018–2026.
To ascertain the market size in terms of value and volume, revenue generated by the key manufacturers and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the Composite Cans Market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the Composite Cans Market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand and the economic envelope. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the Composite Cans Market and identify the right opportunities across the market.
The market segment for global Composite Cans Market have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the Composite Cans Market. Another key feature of global Composite Cans Market is the analysis of key segments in terms of absolute dollar opportunity. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the Composite Cans Market. The overall absolute dollar opportunity along with the segmental split is mentioned in global Composite Cans Market.
To understand key growth segments in terms of growth and adoption for Composite Cans Market. Globally, Transparency Market Research developed the Composite Cans Market ‘Attractiveness Index.’ The resulting index should help providers identify real market opportunities.
In the final section of the report on Composite Cans Market, the ‘dashboard view’ of the companies is provided, to compare the current industrial scenario and their contribution in total Composite Cans Market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the Composite Cans Marketplace.