Demand for beverage and canned food will grow

The preserved food market is expected to reach US$ 51.60 billion worldwide by 2019, according a new study Transparency Market Research
Demand for beverage and canned food will grow

Growing demand for canned foods will drive the market in 2020. A study published by Transparency Market Research reports that global metal cans market was valued US$ 43.81 billion in 2012 and is expected to reach US$51.60 billion during 2013-2019 forecast period. Consumers were looking for more affordable alternatives to fresh food, for example. This is the main reason why canned food is expected to register growth in 2015, and also in the forecast period. The global metal cans market according to the product types are segmented into beverages or food.

The canned food demand is expected to show a growth in future due to consumer’s inclination towards fresh and organic product. Vegetables were the largest product sub-segment within foods sector, and held total 40% of the market share in 2014. Factors such as increasing awareness about metal cans retaining flavour and nutritional value of the products are expected to witness substantial growth also in fruits products segment in the near future. Initiatives towards eco-friendly products and practices will further boost the global metal cans market.

Beverage is classified into two types of products such as alcoholic and non-alcoholic beverages. Alcoholic beverages segment was the largest with 40% of the total demand in 2014. Non-alcoholic beverages segment that includes sports drinks, nutritional drinks, and energy drinks is expected to show a significant growth in the next six years due to the increasing awareness about health benefits and rising sports activities. In addition the fast recycle rate for cans compared with conventional materials such as glass and plastic is further expected to fuel consumer’s demand.

Region-wise, the global metal cans market is segmented into North America, Europe, Asia Pacific, and rest of the world. Europe dominated with 30% of the market share in 2014. After Europe, Asia Pacific was the second largest consumer for preserved food market in 2014t and is expected to show the highest growth due to improvement in consumer purchasing power and increasing availability of canned food in retail store. Bolton Alimentari is expected to continue to lead Italian canned food market in 2015, with a value share of 26%. Its Rio Mare brand in particular is also expected to be the leading brand, set to account for a 19% share of value sales.

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