Plastic Cans Market Forecast and CAGR
According to the latest report, the plastic cans market saw soaring growth in 2021 with worldwide revenues up by lucrative growth year over year. A new forecast estimates that plastic cans revenues will nearly double between 2021 and 2031.
As the increasing demand for ready-to-drink and ready-to-eat packed foods, along with increasing consumer spending on consumer goods such as shampoo, laundry detergents, and other products elevating the demand for plastic cans across the world.
The hype of Flexible Packaging Drive the Plastic Cans Market
Flexible packaging is becoming increasingly popular around the world. Also, flexible packaging is expected to increase rapidly in the future. Because of the multiple benefits that flexible packaging provides, such as ease of handling and disposal, cost savings in transportation, and so on.
Therefore, consumers are shifting from traditional packaging practices to flexible packaging types such as plastic cans, pouches, bottles, and others. Moving towards flexible packaging propels the demand for plastic cans in the packaging industry.
Additionally, plastic can packaging provides a significant contribution in protecting food and beverage products. Nowadays, food waste is a key concern across the world, it highly impacts the environment by increasing carbon footprint, then packaging waste.
Plastic can packaging aids to keep food safe for a longer time and allows carrying food and beverages in long travel. Moreover, reduce food waste. Hence, consumers prefer plastic cans in food and beverages packaging, which drives the market growth.
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Omni Benefits of Plastic Cans Multiplying the Demand
Plastic cans are more durable compared with steel cans. These durability benefits help to store the product for a longer time. Also, the production process of plastic can consume less energy, be lightweight, flexible, and reduce the cost of production.
Plastic cans have ample benefits, such as lightweight, easy to carry, flexibility, and durability, several end-use application producers from food & beverages, pharmaceuticals, cosmetics, consumer goods, pet foods, animal feeds, and other industries preferring plastic cans for packaging. Hence, drastic demand from various industries fueling the market for the next level.
US and Canada Plastic Cans Market
The U.S is one of the leading markets in the global plastic cans market. Rising consumer preference for flexible packed products, easy-to-carry products impacting on North American Packaging industry. To fulfill consumer demand, end-use industry players changing their packaging practice from traditional to flexible packaging. Therefore, the U.S and Canada driving the North American plastic cans market around the foreseeing period also contribute lion share in global consumption.
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Europe Demand Outlook for Plastic Cans Market
Europe anticipated contributing notable market share in the global plastic cans market. Growing demand for durable packaging practice in food & beverage products, home care products, consumer goods, and animal feeds across Germany, France, the U.K, Italy, and Russia supporting the European plastic cans market.
Rising consumer demand for re-usable plastic cans for environment sustainability packaging additionally supporting to the demand of European plastic cans market in the forecast period.
Plastic cans Market: key players
Some key manufacturers functioning the business in the plastic cans market are
- Alpha Packaging
- Group B.V.
- Alcion Plasticos
- Yagmur Plastik Ltd. Kharkov Himprom Ltd.
- Rixius AG
- Shin Fang Plastic Industrial Co. Ltd
- Ranox Enterprises Inc.
- Berry Global Inc.
- Toyo Seikan Co. Ltd.
- DS Smith Plastics Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
Plastic Cans Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Plastic Cans: Market Segmentation
Based on plastic type, the global plastic cans can be segmented as:
- High-Density Polyethylene (HDPE)
- Polyethylene Terephthalate (PET or PETE or Polyester)
- Low-Density Polyethylene (LDPE)
- Low-Density Polyethylene (LDPE)
- Polystyrene (PS)
- Others (Bio-plastic, Polycarbonate, etc.)
Based on applications, the global plastic cans can be segmented as:
- Food & Beverages
- Animal Feeds
- Pet Food
- Industry Chemicals
- Agriculture Chemicals
Based on the Region, the global Plastic cans can be segmented as:
- North America
- U.S. and Canada
- Latin America
- Mexico, Brazil, Peru, Chile, and others
- Western Europe
- Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg
- Eastern Europe
- Poland and Russia
- Asia Pacific
- China, India, Japan, ASEAN, Australia, and New Zealand
- The Middle East and Africa
- GCC, Southern Africa, and North Africa
- North America
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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