01 January 2019 | News | By NFS correspondent
Technavio analysts forecast the global metal cans market for the food and beverage industry to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.
The rise of the organized retail industry is one of the major trends being witnessed in the global metal cans market for the food and beverage industry 2018-2022. Globally, packaged and convenience food has become a staple food for many consumers due to their hectic lifestyle and work schedule.
As a result, large organized retailers have started to stack a huge amount of canned food and beverages. Nowadays the online retailers and offline retailers stock a wide range of brands of packaged food items in their stores.
According to Technavio analysts, one of the key factors contributing to the growth of the global metal cans market for the food and beverage industry is the advantages in metal packaging:
Global metal cans market for the food and beverage industry: Advantages in metal packaging
Metal packaging is getting popular among the food and beverage industry as it offers advantages throughout the supply chain. Properties such as strength and rigid nature, allow metal packaging to be filled at high speeds with negligible product loss. Metal packaging enables to optimize the maximum space during storage and transportation due to its stackability. The metal packaging does not break or puncture easily. It also has an inherent strength, due to this the metal packaging, both empty and filled, can be stacked to make maximum use of storage.
Global metal cans market for food and beverage industry: Segmentation analysis
The global metal cans market for food and beverage industry research report provides market segmentation by end-user (beverage and food) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The beverage segment held the largest market share in 2017, accounting for nearly 76% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 44%. This region is expected to dominate the market through 2022.