Food & Beverage Segment to register meteoric growth in composite can consumption, during 2018-28: TMR
Transparency Market Research delivers key insights on the Composite Cans Market in its published report, titled “Global Composite Cans Market: Industry Analysis and Opportunity Assessment, 2018–2026”. In terms of revenue, the global Composite Cans market is estimated to expand at a CAGR of 5.2% during the forecast period, owing to numerous factors, about which TMR offers thorough insights and forecasts in this report.
A Composite Can is a cylindrical paper tube that usually has a body made of several layers of paper and the bases or ends made of metal or plastic. A Composite Can is also sometimes called a Combi container. Composite cans are composed of a body, a bottom closure, and a top closure. There are four main structures in the body of a Composite Can: the aluminum inner web, multipole intermediate webs, and the label web, and the membrane. The base of the composite can is made of metal, plastic and paper board. Composite Cans are used in packaging of every day house hold items such as, drinks, spices & condiments, nuts, tea and coffee etc. Composite cans come in different forms including aluminum membranes with tear tab, paper membranes with or without aluminum coating, paperboard ends and paperboard shakers among others. Variety of closure options are available including, caps, lids and membranes. Tear-off membranes are found to be popular among consumers as it provides consumer convenience for easy opening of the composite can. Composite cans are made using three production techniques such as spiral winding, convolute winding and linear draw. Composite can manufacturers prefer spiral winding process as it is cheaper than convolute winding method and produces composite cans that have good rigidity and strength. Spiral winding production technique is projected to expand at a CAGR of 5.9%.
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According to TMR analysis, composite cans are a replacement for metal cans. Composite cans are widely used packages on grocery store shelves. Composite cans are used for various food and non-food applications offering numerous sizes and barrier options to meet the consumer’s demand. The easy open ends allow companies to produce unique packages that stand out in the retail store. Composite cans are highly used for granular and powdered products. Composite cans are lighter in weight as compare to metal and are impeccable choice for consumers. Metal cans account for the highest share in beverage packaging, however now the manufactures are coming up with composite can packaging fir beverage. Composite cans offer barrier protection to keep the freshness and aroma of the food stuffs intact. Barrier coatings are applied to the composite can depending upon the product filled inside. Aluminum foil liner are mostly used for food packaging. Composite cans are vacuum sealed against moisture and oxygen to preserve freshness of the product. TMR believes that increased aluminum and other metal prices and implementation of tariffs on metal raw materials drives the market for composite cans market. Composite cans are used in liquor bottle and perfume bottle packaging. Alcohol and premium spirit bottle packaging experiences a peak growth during the Christmas season and drives the seasonal demand for composite cans. The food and beverage segment is projected to expand at a CAGR of 5.7%.
TMR Key Findings:
Pangea Organics- a skin care product company, provides packaging for its products that is not only biodegradable but also helps the environment. Pangea Organic’s packaging for Ecocentric body/skin care products is plantable. Pangea Organic collaborated with Seeds to Change, the largest producer of organic seeds, to create the first ever, 100% compostable, biodegradable and plantable product packaging. The composite 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. Pangea’s product composite cans use PCR paperboard in the first place and embedded the paper layer with flower seeds, giving the consumer the pleasure of growing flower by planting the empty composite can. Pangea’s products are not only biodegradable, but they also help the environment. This initiative by Pangea Organics will motivate other manufacturers to adopt ecofriendly packaging.
Asia-Pacific region to pose lucrative growth opportunities for composite cans market during the forecast period. Due to the economic development, advanced technology and environment awareness composite cans market is likely to soar up in the Asia-Pacific Region. Mainly, the food and beverage segment is the most targeted one. Food & beverage segment in the Asia-Pacific region is projected to expand at a CAGR of 7.6%
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