Global Metal Cans and Glass Jars Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2019 at a CAGR of XX % during the forecast period.
The major use of glass jars is seen in the food and beverage industry for the purpose of packaging materials. The main reason behind their enormous usage is the advantages they offer such as reusability, chemical stability, and sterility. Glass is used for the packing of a wide variety of items such as food, chemicals, alcoholic and non-alcoholic beverages, and pharmaceuticals. These glass bottles and jars are available in various shapes, sizes, and colors.
On the other hand, metal cans are used for packaging purposes and are mostly preferred over glass. Similar to glass cans, these cans are also used for the packing of various items such as vegetables, fruits, soups, coffee, and meat.
Global Metal Cans and Glass Jars Market Dynamics:
Factors such as rising demand for canned food due to busy lifestyles, increasing awareness of waste segregation and recycling, high recycle rates are estimated to drive the metal cans and glass jars market globally. In addition, food items packed in metal cans and glass jars are very handy and easy to use. This, in turn, impacts the global metal cans and glass jars market growth in a positive way.
The demand for both the metal cans and glass jar markets are accountable to the food industry for a dominant share in their revenues in India and Iran. The sector of preserved food led to major growth opportunities for these markets in both the countries in the past few years. The rising popularity of easy-to-cook and readily consumable food products in fast-paced urban dwellings is the major factor leading to the favorable demand for metal cans and glass jars in these regions. Demand for metal cans and glass jars is also expected to expand at the fastest CAGR, an estimated 3.6%, over the period between 2020 and 2026 in the packaged food section across these countries. Other applications in the food industry, such as chocolates, health drink powder, and confectionaries will lead to low to moderate growth opportunities for the metal cans and glass jar markets in India and Iran.
Growing awareness of food preservation and government initiatives for food security are helping to grow the demand for metal cans and glass jars market. On the other hand Price fluctuation and absence of key global suppliers for raw materials are the key restraining factors that can delay the demand for Metal Cans and Glass Jars in the market.
Global Metal Cans and Glass Jars Market Segment Analysis
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By product types, the market is divided into metal cans and glass jars. The metal cans segment is held the largest market share of xx% in 2019 and is expected to dominate the market over the forecast period due to the wide application of metal cans across food & beverage industry and increase in demand for instantly consumable foods and beverage items. Meanwhile, the glass jars segment is projected to grow significantly over the years due to the rising adoption of glass containers for packing the preserved foods.
By applications, the preserve foods segment is growing at a significant rate and is expected to exhibit a robust growth rate over the forecast period due to wide applications of these containers for various food items including meat and ready-to-eat foods. Meanwhile, the pet foods segment is expected to witness decent growth over the forecast period due to the wide prevalence of pet adoption culture worldwide.
Global Metal Cans and Glass Jars Market, by Region
Global Metal Cans and Glass Jars Market region
The Asia Pacific is anticipated to the largest market share of xx% of the global metal cans and glass jars market due to high demand from the food packaging industry in India and Iran. Also, high investments by industries in the development of products with different features in the Glass jars and metal cans are also driving the market growth in this region. On the other hand, the market in North America is anticipated to witness a decent growth rate over the forecast period due to wide prevalence of the packaged foods consumption culture and high demand from the food packaging industry.
Global Metal Cans and Glass Jars Market Scope: Inquire before buying
Global Metal Cans and Glass Jars Market
Global Metal Cans and Glass Jars Market Key Players
• Ball Corporation
• Kaira Can
• Ball Corporation
• Crown Holdings
• Ardagh Group
• Amcor Limited
• Bormioli Rocco
• Heinz-Glas GmbH
• Piramal Glass
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