Canned Food Packaging Market, By Material (Metal, Steel, Aluminum, Others), Type of Food Product (Readymade Meals, Meat, Sea Food) – Forecast To 2023
Global Canned Food Packaging Market Is Predicted To Grow At A CAGR Of 4.01% During The Forecast Period
The key players of global canned food packaging market include Amcor Ltd. (Australia), Ardagh Group (Luxembourg), CPMC Holdings Ltd. (China), Crown Holdings (U.S.), Grief Incorporated (U.S.), Silgan Holdings Inc. (U.S.), Rexam Plc. (U.K.), Toyo Seikan Kaisha Ltd. (Japan), Ball Corporation (U.S.), and Huber Packaging (Germany).
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Food packaging is defined as a coordinated system of preparing food for transport, distribution, storage, retailing, and end-user to satisfy the ultimate consumer with optimal cost. The global packaging market is constantly evolving and is expected to witness a high growth over the forecast period. Moreover, the development of new and diversified packaging styles and high potential in emerging economies providing huge growth opportunities for canned food consumption are creating exciting opportunities within the packaging industry.
The growth of the canned food packaging market is influenced by the increasing consumption of beverages usage of aerosol cans and increasing consumption of canned food. Furthermore, increasing urbanization and their disposable income have led to the emergence of Asia Pacific as the fastest growing region.
North America and Europe are the leading cans market owing to the high consumption of canned beverages and processed food. However, their markets have been saturated and are hence expected to grow at a slower rate. Currently, Asia Pacific is expected to be a leading market player and is likely to dominate the market during the forecast period. Developing economies like India, China, and Brazil have changed their buying patterns by purchasing more packaged foods will help to grow the market.
The easy availability of raw material and labor in China makes it one of the beneficial regions for setting up of manufacturing facilities. Moreover, inclination towards long shelf-life and low prices fueling the market for canned food packaging. Demand for beverages, continuing a trend toward cheap alternatives to chilled and frozen meat has been increasing in the Asia Pacific region majorly due to the changing lifestyle and the increasing purchasing power.
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Scope of the report
This study provides an overview of the global Canned Food Packaging market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Canned Food Packaging market by its material, type of food product and region.
Type of Food Product
- Readymade Meals
- Sea Food
- North America
- Asia Pacific
- Rest of the World