Canned Food Packaging Market 2021 by Global Key Players, Business Rising Awareness, Financial Plan and Trends by Forecast 2028

Market Analysis

Market Research Future (MRFR) presumes the global Canned Food Packaging Market to grow at a 4.01?GR from 2021–2028 (forecast period).

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Multiple Factors to Augment Market Growth

Food packaging can be defined as a coordinated system of preparing food for transport, distribution, storage, retailing, and end-user satisfaction at the lowest possible cost to the ultimate consumer. The worldwide packaging market is continually evolving and is predicted to grow rapidly throughout the forecast period. Furthermore, the development of new and diverse package styles, as well as the high potential in emerging nations that provide tremendous growth opportunities for canned food consumption, are creating exciting opportunities in the packaging business.

The growth of the canned food packaging market is directly linked to the growth of the food and beverage sector, rising demand from the cosmetic industry, and packaging innovation. However, rising material costs may stifle expansion in the canned food packaging industry over the study period. Product differentiation and the adoption of eco-friendly products and processes, on the other hand, could present a huge possibility for market expansion. Market participants would benefit from strategic alliances and a focus on important growing regions.

Packaging makers are following a new trend in research and development, with an emphasis on ideal sites for manufacturing and short-distance supplies to cut costs. The canned food packaging market is predicted to expand significantly over the forecast period due to primary driving factors such as a focus on high-quality products, changing consumer lifestyles, and increased spending power. Packaging is a key factor in enhancing product sales. Furthermore, the recyclable and reuse qualities of cans, lower canned food prices, nutritional value, and hygienic food processing are propelling the worldwide canned food packaging industry. Furthermore, rising demand for packaged or processed foods, as well as the availability of numerous convenient meal options such as ready to eat, ready to cook, ready to serve, and ready to heat, are fueling market expansion.

COVID-19 Impact on the Canned Food Packaging Market 

With the latest COVID-19 outbreak, packaging makers are facing supply chain interruption as well as decreased manufacturing on-site in various parts of the world. To ensure the smooth flow of the supply chain, Global Food Safety Initiative (GFSI) certification programs offer six-month certificate extensions by conducting a remote audit and risk assessment about COVID-19, allowing the company to approve a new supplier location without an on-site inspection to meet demand.

Market Segmentation

The global canned food packaging market has been segmented on the basis of material and type of food product.

On the basis of material, the global canned food packaging market has been segmented into metal, steel, aluminum, and others.

On the basis of type of food product, the global canned food packaging market has been segmented into readymade meals, meat, and seafood.

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Regional Analysis

APAC to Lead the Global Market

During the projected period, Asia Pacific is expected to be a key industry player and dominate the market. Developing economies such as India, China, and Brazil have altered their purchasing habits by purchasing more packaged foods, which will aid in market growth. Due to the simple availability of raw materials and labor in China, it is one of the most advantageous regions for the establishment of manufacturing plants. Furthermore, the demand for canned food packaging is being fueled by a preference for lengthy shelf-life and affordable prices. Demand for beverages, which is continuing a trend toward low-cost alternatives to chilled and frozen meat, has been expanding in the Asia Pacific area, owing primarily to changing lifestyles and rising spending power.

Key Players

Notable players in the global canned food packaging market are Amcor Ltd. (Australia), Grief Incorporated (U.S.), Ardagh Group (Luxembourg), CPMC Holdings Ltd. (China), Ball Corporation (U.S.), Crown Holdings (U.S.), Silgan Holdings Inc. (U.S.), Rexam Plc. (U.K.), Toyo Seikan Kaisha Ltd. (Japan), and Huber Packaging (Germany).

Industry News

In May 2021, Crown Holdings Inc. began construction on a new USD 147.6 million 327,000-square-foot can manufacturing facility in Bowling Green, Kentucky, with intentions to open the facility in spring 2021. The advanced-manufacturing plant will be owned and operated by its subsidiary CROWN Cork & Seal USA Inc. At first, it will produce 1.3 billion cans per year at a rate of 2,800 cans per minute.

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