The Business Research Company’s Food Cans Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON , UK, September 14, 2021 /EINPresswire.com/ — The increase in the penetration of organized retail is expected to be a major driver of the global canned food market over the coming years. Increased disposable incomes, shifting consumer preferences and tastes, shifting demographic profiles, and increased expenditures are all contributing to the organized retail sector’s growth. Vendors rely on the organized retail sector to distribute and sell their products, and large organized retailers carry vast volumes of canned foods and beverages in their stores. For instance, according to the Retailers Association of India (RAI), the share of the organized retail market is expected to grow to 22-25% by 2021 in India, which is expected to increase the sales of food cans in the country.
The global food cans market is expected to grow from $24.41 billion in 2020 to $25.91 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%. The growth in the food & beverage metal cans market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The food cans market is expected to reach $32.69 billion in 2025 at a CAGR of 6%.
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Major players covered in the global canned food market are Crown Holding Inc., Ardagh Group, Kian Joo Group, Silgan Holdings Inc., Can-Pack S.A., Envases del Plata, CPMC Holding Limited, Wells Can Company, Toyo Seikan Group Holdings Ltd, Aaron Packaging Inc., Jamestrong Packaging, Kingcan Holdings Limited, HUBER Packaging Group GmbH, Tetra Laval International S.A., and Independent Can Company.
North America was the largest region in the food cans market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food cans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
TBRC’s metal food cans market report is segmented by material into aluminum cans, steel/tin cans, by product into 2-piece cans, 3-piece cans, by end use into meat, poultry and seafood, pet food, bakery and confectionery, sauces, jams and pickles, fruits and vegetables, tea and coffee, others.
Food Cans Global Market Report 2021 – By Material (Aluminum Cans, Steel/Tin Cans), By Product (2-Piece Cans, 3-Piece Cans), By End Use (Meat, Poultry And Seafood, Pet Food, Bakery And Confectionery, Sauces, Jams And Pickles, Fruits And Vegetables, Tea And Coffee), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides food cans market overview, forecast food cans market size and growth for the whole market, food cans market segments, and geographies, food cans market trends, food cans market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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