Food Cans Market

Food Cans Market - Snapshot

Food cans refers to the type of cans that are utilized for the distribution and storage of food and beverage items. Steel and aluminum are some of the materials that are abundantly utilized in the making of these cans. The global food cans market is predicted to ride on the eco-friendliness of the product, rapid rate of recycling, and rise in the demand for canned products.

The global food cans market is expected to gain prominence owing to its unique features such as easy recyclability, hermetically sealed cover, resistance to irregular handling and transport. Sheets of steel and aluminum are the basic raw materials needed for the making of the product. Some of the major suppliers of these raw materials comprise Chalco, ArcelorMittal, UC Rusal and others.

Ability to Retain Nutritional Value of Products to Boost Market Growth

The global food cans market is predicted to witness substantial momentum over the assessment period and is prognosticated to continue its upscale growth rate in the similar fashion. These cans come with many benefits such as anti-leakage, tamper-proof properties, which will help them maintaining nutritional value of the product. Food cans are utilized for the storage of dry food items, such as

• pet food
• frozen food
• beans
• vegetables
• fruits

In addition to that, during the process of transportation, food cans make excellent packaging tools.

The food cans market is observing considerable momentum in the forecast period of 2019-2027 and is expected to continue its upscale growth rate in the same manner. Food cans are tamper-proof, anti-leakage cans that help in maintaining the product’s nutritional value. Food cans are used for storing dry food products such as pet food, beans, fruits, frozen food, and vegetables. Food cans serve as great packaging tools during transportation. Food cans prevent the growth of bad microorganisms that hamper food quality. Therefore, this factor can provide a steady boost to the food cans market. Furthermore, the food cans market is surrounded by frequent technological innovations related to better food preservation. This may also help in driving the food cans market towards growth.

• The prominent growth factor of the food cans market is the rise in the urban population. The urban population has a busy lifestyle. These individuals prefer easy and convenient food. This leads them to buy canned food. An increase in recycling rates and the rising awareness of the disadvantages associated with plastic packaging helps in multiplying the growth rate of the food cans market.
• Growing awareness about the nutritional benefits of fish and seafood consumption is on the rise. For this, individuals prefer canned seafood because of the convenience and long shelf life. This, in turn, can drastically benefit the food cans market. The focus of the manufacturers for designing lightweight and optimized food cans can further flourish the food cans market. The recent launch of shorter round and square-shaped cans by Crown Holdings Inc. can prosper the food cans market further. Partnerships and acquisitions also play a big role in expanding the food cans market to other regions. For instance, the recent agreement signed by Ball Corporation with Envases del Plata, an Argentinian company will help Ball Corporation to strengthen its footprint in the South American region.

Food Cans Market - Moving Beyond Packaging with Custom Manufacturing Trends

Even with the cost-prohibitive nature of metal food cans and poor sustainability credentials of plastic food cans, seasoned analysts at Transparency Market Research (TMR) portend a steady growth of the overall food cans landscape at a CAGR of ~4% during 2019-2027. The 'twofer' attribution of food cans - reduced packaging waste and cost cutting opportunities - is highly likely to bolster their adoption in the food and beverage industry. An underway shift from BPA to BPS plastic cans will remain crucial for market players seeking a smooth transition by conforming to regulatory protocols to make it to distribution channels.

On the manufacturing side, the advent of custom manufacturing trends will resonate with end users looking at improving brand value. Besides organic growth strategies, production partnerships with end users will chart the course for where the food cans landscape is heading next.

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Tinplate to Remain the Gold Standard

The traditional lead of metal food cans will remain intact, given the weighted trend of recyclability. That being said, the cost-efficiency of tinplate with near-close properties as aluminum will upkeep their status quo as the 'material of the choice', representing steady growth during the forecast period of 2019-2027.

However, the popularity of plastic cans is projected to boom, despite the groundswell and consumer backslash regarding their impacts on health. The production of plastic cans requires relatively low working capital, and with the ongoing shift from BPA to BPS, end users will back the transformation to save on their overhead expenditures.

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Downsizing is the New Rightsizing in the Landscape

Canned foods are often linked to achieving consumption convenience, when it comes to addressing the demands of consumers leading hectic lives. Trends suggest that, small-sized food cans of less than 100 g are likely to catalyze market revenue, given their smooth transportation, low cost, and portion-control proposition, while driving sales through impulsive purchase behaviors.

With the evolving choices of consumers, the sales of large-sized food cans are growing at a high, albeit, steady pace, while that of small-sized food cans are on an exponential projected increase at a CAGR of ~6% during 2019-2027. The said trend specifically stands true in the developed markets of Europe, given the marked adoption of the 'grab-to-eat' culture and circular economy.

With four countries from Europe - Germany, Austria, Wales, and Switzerland - occupying the 'top five-most plastic recycling countries' space, market players concentrated in the region will benefit from the growing proclivity for plastic material, and offer a stout tailwind to the food cans market.

However, Asia Pacific, in general, and China, in particular, will remain a remunerative food cans market, with a large base of millennial population preferring canned food products over time-consuming recipes. In addition, China accounts for leading aluminum reserves and plastic production, which will further ensure the consistent supply of raw materials. During the forecast period, market players can expect Asia’s market to grow at a CAGR of ~5%.

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Analysts’ Viewpoint

Authors of the report infer that, the billion-dollar food cans market will move at a steady pace, and the success of market players will hinge on their ability to act according to the evolving trends. With the shifting paradigm of consumer preference towards healthful eating, manufacturers can look forward to partnering and collaborating with fruit and vegetable producers, while significant growth in the sales of canned tea and coffee unlocks yet another opportunity to infiltrate in the end-use segment.

In the fragmented landscape, with numerous companies to contest with, market players need to do more than just focus on the development of attractive food cans. An example of this is illustrated by Crown Holding, Inc. The company offers a broad array of technical and support services for facilitating the custom manufacturing of food cans as a strategy to occupy a distinguished market position. Market players can also leverage inorganic growth strategies involving remotely operating players of developing countries to consolidate their position in the food cans market.