Global Metal Cans Market by Product (Carbonated Soft Drinks, Alcoholic Beverages, Fruit & Vegetable Juices, New Drinks, Vegetables, Fruits, Soups, Miscellaneous Foods) Expected to Reach Usd 52.83 Billion by 2020: Grand View Research, Inc

The global market for metal cans is expected to reach USD 52.83 billion by 2020, according to a new study by Grand View Research, Inc. Metal cans are steel or aluminium container mainly used for the storage of goods such as beverages, foods and chemicals. Increasing environmental benefits coupled with growing demand for beverages and canned foods are expected to drive metal cans demand over the next six years. In addition, fast recycle rate for metal cans in comparison to conventional materials such as glass and plastics is further expected to augment its market growth. Technological innovation and use of eco-friendly products are further expected to serve as key growth opportunity.

Beverages were the largest product segment with consumption of 280,809.8 million cans in 2013, expected to reach 347,915.3 million cans in 2020, growing at a CAGR of 3.1% from 2014 to 2020. The demand for metal cans in beverages is expected to rise due to its benefits such as excellent protection from ultraviolet rays and extended coolness. Moreover, product differentiation and innovation in shape and size of metal cans is expected to boost their demand in beverages. Within beverages, alcoholic beverages dominated market with demand exceeding 127,300.0 million cans in 2013, and generated revenue of USD 16.12 billion in 2013.

The report “Metal Cans Market Analysis By Product (Carbonated Soft Drinks, Alcoholic Beverages, Fruit & Vegetable Juices, New Drinks, Vegetables, Fruits, Soups, Miscellaneous Foods) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/metal-cans-market

Further key findings from the study suggest:

• The global metal cans demand was 354,128.3 million cans in 2013 and is expected to reach 431,573.9 million cans by 2020, growing at a CAGR of 2.9% from 2014 to 2020.
• In terms of revenue, North America was the largest market for metal cans...