Bizizz Market Research has recently published a research report, “Food cans Market By material Type (Aluminum, Steel, Plastic, metal and Others), Payload (Up to 25 Kg, Up to 150 Kg, Up to 600 Kg, Above 600 Kg), Application (Pet Food, Convenience Food, Fish & Seafood, Fruits & Vegetables and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Food cans Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 4.2 Bn by 2027, witnessing a CAGR of 4% during the forecast period. Key drivers of the market are increased demand for healthy food products along with increased preference for longer shelf life of food products.
The global market of food cans are propelling by the contributing factors of growth are initiatives taken by government for improved healthy eating habits. These initiatives have stimulated the market growth of healthy packaged food market. Moreover, growing demand among consumers on healthy offerings are vital factors substantiating its market growth in the global metal food cans market. Moreover, consumers chose for canned food products for longer shelf life in comparison to the processed food. Canned foods could be stored for specific period of time respective to the food product by which consumers are being highly inclined for food cans as these are very convenient to apply and have good nutritional values sustained. Such features are substantiating its market growth.
The Food cans market is anticipated to register a CAGR of over 4% during the forecast period.
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By material, metal cans segment held a key share in Global Food cans Market in 2018.
The growing demand for the food cans is led by metal that has greater product protection against various environmental conditions. Moreover, the metals are recyclable in nature that is easy and could have lesser energy consumption in the recycling process that is propelling its market demand. An increased awareness in adopting non-carcinogenic nature of materials in food products preservation and packaging is stimulating its market growth.
Asia pacific is Anticipated to Dominate the Global Food cans Market during the Forecast Period
The growth of the food cans market is projected to witness a steady CAGR over the forecast period in the Asia pacific region. Increasing purchasing power along with other factors are propelling the growth of food cans market during the forecast period. Raising consumption rate of food and beverages that are packed in cans, along with growth of good quality pet food are also propelling the growth of food cans market in Asia Pacific.
Global Food cans market was moderately consolidated with key players accounting for significant share in 2018.
Prominent players operating in the Global Food cans Market are: Crown Holdings, Inc., BALL Company, Allstate Can Company, Visy Industries, Silgan Containers LLC., Jamestrong Packaging, Perennial Packaging Group Pvt Ltd., Avon Crowncaps & Containers (Nig.) Plc, Kian Joo Can Factory Bhd, and TinPak (Pvt) Ltd , among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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