Started from the developed countries and gradually adopted by consumers in developing countries, food consumption pattern witnessed dynamics shift over past decade. Meteoric growth in instant ready to eat and packaged food market, due to rise in dual income level, standard of living and convenience offered by newer format of food consumption. Canned food and beverages have integrated with urban lifestyle, particularly in developed as well as developing geographies. Food tins and drink cans are most effective solution equipped with all features needed for storage and transportation. Food tins and drink can also preserve the nutrition value and flavor of the product. Food tins and drink cans are a good means of safely preserving of foodstuffs for longer duration without any microbiological deterioration as these tins and cans are made from corrosion resistant materials.
Market Segmentation: Market Dynamics, Segmentation and Regional Outlook
Most countries across globe have started to invest in infrastructure such as deep freezing mechanism which is required for proper storage of ready to consume food and keep food temper resistant with increased shelf life. Food tins and drink cans are becoming an asset in packaging for manufactures as they incur very less cost packaging solution and thus provide value to the manufacturers. Also, these tins and cans can be manufactured in large quantity in any size and shapes. This all derives tins and cans market all across the globe.
On the other hand, people across world has grown health conscious and thus avoids consumption of an industrial chemical called Bisphenol A or BPA which can seep into food and beverage stored in tins and cans leading to diseases such prostate and breast cancer thus hampering growth of food tin and drink can market. Moreover, the inclination of manufacturers as well as customers towards new pouches and thin plastic packaging, hampers the growth of metal food tin and drink can market. Also, customers want packaging with features such as tins and cans to be used in the microwave, re-sealable packaging and also easy opening patterns. This has acted as the important restraining factors for the metal packaging container market.
The Global food tin and drink cans market has been segmented as follows Based on the material used – Steel tins and cans, Aluminum tins and cans, Tin Plate tins and cans. On basis of product type – 3-Piece cans, 2- Piece cans, Single drawn cans, Drawn and re-drawn cans (DRD), Draw and wall ironing cans (DWI). Based on the end use – Dairy products, Fruits & vegetables, Ready meals, Pet food, Fish and seafood, Others. On the basis of packaging types – Round tins and cans, Bowl tins and cans, Shaped tins and cans.
The majority of cans and tins used for food and beverage packaging all over the world are made up of steel. Aluminum cans are mostly preferred in beverage packaging mostly for carbonated drinks.
Geographically, the food tins and drink cans market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). Among regions mentioned above, North America bags a significant share and it is expected to maintain as market leader during the forecast period as it provides a better freezing facility for the storage of food tins and drink cans. Asia’s Food and Beverages market shall experience an unprecedented growth taking half of the consumption by 2021 thus contributing to growth of global food tins and drinking can market. Overall, the global food tin and drink can market is expected to register a healthy CAGR during the forecast period.
Some predominant players identified across the globe are Crown Holdings, Cansmart, Silgan Containers LLC, Jamestrong Packaging, Kian Joo Can Factory Bhd, Perennial Packaging Group Pty Ltd, Allstate Can Corporation, TinPak (Pvt) Ltd. and BALL CORPORATION.
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