Specialty Cans Market: An Overview
Cans have undergone many changes in terms of shape, size, texture, and weight to cater the needs of the consumers. This led to the introduction of specialty cans. These cans are mainly used for packaging and storage of processed food and beverages. Specialty cans protect the color and texture of food and also preserve their freshness and flavor. They provide hygiene, which helps in lowering the health issues that arise due to the contamination of food. These cans are eco-friendly and can be recycled and reused. Specialty cans are mainly used in the industrial sector and household. Metal specialty cans are one of the safest and economical forms of packaging. Metal specialty cans are mostly used as they are more long-lasting than plastic cans.
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Specialty Cans Market: Dynamics
Rising economy and disposable income and growing attraction towards luxurious goods act as a driving force for specialty cans. Consumers are willing to spend more on new and innovative products. Growing online market and number of brands by the companies helps in rising the market for specialty cans. Increasing knowledge related to the environmental concerns and recycling property of specialty cans boost their market. Plastic specialty cans can have a deceased use because of the growing intolerance towards plastic. Metal specialty cans, on the other hand, are more durable and easily recyclable. The specialty cans are costly than other cans that can act as a restraint in specialty cans market. Skilled labor is required for the production of these cans, which in turn increases the product cost. Availability of cheap products can also hamper the growth of specialty cans.
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Specialty Cans Market: Key Developments
Many key players in the market are focusing on product launch to produce new sustainable products for the flourishing requirements of the consumer. Recent developments in the performance of specialty cans have helped in coping up with the growing luxurious lifestyle. This is helping to raise the market for specialty cans. Companies are now able to produce an improved variety of cans which have appealing designs.
- On 15 July 2019, Ardagh Group had an agreement with the Exal Corporation (a leading manufacturer of aluminum containers) to combine its food & specialty metal packaging business to ultimately form Trivium Packaging, a global leader in metal packaging.
- On 23 April 2019, Crown launched shorter cans that are both round and square.
- On 27 April 2018, Ball won two Euro Cantech 2018 awards for two-piece beverage decorative design and metallic aluminium aerosol can.
Specialty Cans Market: Segmentation
On the basis of material, the specialty cans market has been segmented into:
- Others (tin, etc.)
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- High-Density Polyethylene (HDPE)
- Low-Density Polyethylene (LDPE)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Others (acrylic,etc.)
On the basis of capacity, the specialty cans market has been segmented into:
- < 1 gallon
- 1 to 3 gallon
- > 3 to 6 gallon
- > 6 to 9 gallon
- > 9 gallon
On the basis of end use, the specialty cans market has been segmented into:
- Industrial sector
- Commercial Industry
Specialty Cans Market: Regional Outlook
The U.S. in the North America region; countries like China, Japan, and South Korea in the Asia Pacific region and Italy, France and Germany in the European region have the largest market for luxurious goods; and therefore, the market for specialty cans is expected to rise. The specialty cans market in developed countries such as the U.S., Italy, and the UK is expected to have positive growth during the forecast period. Specialty cans are specially designed and coated to store processed food and beverages. The increasing demand for a container which can preserve food and beverage without affecting its natural properties drives the specialty cans market in developing countries such as India, China, etc.
Specialty Cans Market: Key Players
- Crown Holdings Incorporated
- Ball Corporation
- Ardagh Group
- Novelis, Inc.
- Amcor Plc
- Huber Packaging Group GmbH
- Zenith Tins Pvt. Ltd
- Silgan Metal Packaging Leipzig GmbH
- GM Metal Packaging Ltd.
- Eagle Manufacturing Company
The report 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 in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with specialty cans market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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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
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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?
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