Food and beverage metal cans market to grow to $48.52bn
The global food and beverage metal cans market is expected to grow to $48.52billion by 2028, according to a new report by The Brainy Insights.
The market is currently valued $24.4billion, but is expected to grow at a CAGR of 8.4% over the forecast period.
The high recyclable aluminium rates, growing number of health-conscious customers and growing awareness of nutrients in food and beverages have contributed to the rising demand for metal cans.
Increasing awareness of the drawbacks of using single-use plastics and government intervention in restricting the usage of plastics that negatively impact the environment has greatly accelerated the growth of the global market of metal cans for food & beverages.
Metal cans are clean, empty metal containers constructed of aluminium, tin-plated or zinc-plated steel, which are commonly used for packaging foods, beverages or other items.
Such cans are containers constructed of thin metal for the delivery or storing of goods. Some cans need to be opened by cutting the end off; some have removable cover. Cans have a variety of contents: food, drinks, oil, chemicals etc.
Factors such as the rising demand for canned food & beverages and ready-to-eat snacks across the globe are related to the growth of the food& beverage metal cans industry. However, availability of alternative packaging options such as plastic and glass may restrain the market growth.