Bowl cans are containers made of metal that are used to keep liquid drinks like sports or energy drinks, vegetable and fruit juices, carbonated soft drinks, alcoholic beverages and others. Such cans are made up of steel and aluminum. According to the latest research by FMI, the bowl cans market is estimated to record a growth in CAGR moderately during the forecast period of 2021 to 2031.
It is likely to witness the developments on account of the increase in usage of bowl cans in the food & beverage industry to protect inside products from infection. However, volatility in the prices of raw materials and the government regulations on the usage of Bisphenol-A (BPA) is projected to hinder global growth.
Canned foods have become a staple in schools, kitchens, and hospitals. The mounting trend for canned food & beverages shall drive the sales of the target product. The product used for food & beverage products helps to sphere their nourishing values for a longer period of time, thus subsidizing the growth of canned food products, which in turn will boost the product value.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
What is Driving Demand for Bowl Cans?
The growth in the adoption of beverage products globally is lashing the demand for bowl cans. Improved promotional activities by different companies of food & beverages to rise the demand for the usage of the target product owing to increased sales of cold drinks and soft drinks.
The rising demand for changing lifestyles and healthy food among consumers has headed to large consumption of canned products. The growing technologies have allowed the products to enable the manufacturers to adopt smart innovation in product designing. Such products are being lightweight, recyclable and eco-friendly are driving the growth during the forecast period of 2021-2031.
Growing Demand for Beverage Can Likely to Augment Bowl Cans Sales
Epoxy type of target product are widely used in extensive applications among beverage can manufacturers. However, from the historic period, the companies have started relieving epoxy bowl cans with other substitutes owing to regulatory policies and toxicological presence to put forth by several governing agencies. Polyester and acrylic type are currently being used as an alternative option to epoxy type of bowl cans.
Acrylic type offers clean advent coupled with sulfide and corrosion pigment resistance. Though, these products are brittle in nature, with the possibility of change in taste and odor of foods.
The epoxy type cools down faster as compare to others, aerosol can and others, as plastics are preferred by consumers. Beverage types of can companies have to obey with the strict principles set down by food authorities affecting the quality of the cans. This is expected to drive the demand for the product.
Additionally, these products are ease to maintain the taste and flavor of the product. Beverage type of bowl cans are consumed for alcoholic purposes and non-alcoholic beverages type of cans are used for filling soft drinks, herbal teas, fruit juices, energy drinks, etc. Whereas, beverage types of cans lengthen the barrier against light and oxygen, subsequently holding the freshness and flavor of beverages.
Such growing demand for beverage types of a can is likely to augment the sales.
Find your sweet spots for generating winning opportunities in this market.
North America Bowl Cans Market Outlook
North America holds the highest shares for bowl cans. The growth in the region is attributed to the established availability of chemical industries, personal care, pharmaceutical industries and food and beverages sectors. This, in turn, is expected to use the target product in the above-mentioned industries for various purposes, thus increasing the product demand in the region.
The manufacturing of the product in the region is mainly measured by the US Food and Drug Administration. Companies at the regional level must comply with regulations concerning bowl cans. This, in turn, is likely to urge the manufacturers to develop the product under government regulations.
As the population is on the rise, the North American people drinks & eats more than ever before, as of 2020, more money was spent on food at dining and restaurants establishments compared to food or grocery stores.
Another dynamic influence behind the swell in growth in the restaurant sector has been the continual implementation of foodie culture by North Americans, hence, with the increase in demand for cold drinks and other bowls can products, the demand for the target product is projected to increase rapidly over the forecast period.
Asia Pacific Demand Outlook for Bowl Cans
The Asia-Pacific region is projected to be the fastest-growing bowl can market across the world. The region is a manufacturing sector for chemical, pharmaceutical and food & beverages industries, owing to the low cost of raw materials and availability of cheap labor. This is likely to increase the depletion of the product, thus fueling the regional demand.
Countries such as China, Japan, India, Indonesia, Thailand, New Zealand and Australia are considered for the contribution to the regional market. Thus, the growth is projected to be high. Many types of bowl cans are used in the region, such as acrylic, epoxy, polyester and others. The demand from the food & beverage sector is on surge due to the rise in the regional population.
Manufacturers such as Crown Holdings and Ball Corporation are entering into the Asia Pacific region by mounting new production plants in the region. This led to the increase in consumption of the product. Apart from this, high disposable income, urbanization, high industrial growth, and lower production of fresh drinks are driving regional growth.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
Who are the Key Manufacturers and Suppliers of Bowl Cans?
The bowl cans market is moderately consolidated in nature with a few major manufacturers leading a significant position globally. Some of the major players are
Crown Holdings
Altana
International Packaging Coatings
Toyochem
VPL Coatings
Ball Corporation
CANPACK S.A
Amcor Limited
Akzo Nobel
Valspar
Ardagh Group
Tiger Coatings
PPG Industries
Kupsa Coatings
CPMC Holding Ltd
Showa Denko KK
Others
These manufacturers have executed various growth strategies like collaboration and new product launch to expand their global presence and escalate their respective sales. For instance, in 2020, Ball Corporation has collaborated with Tubex Industria for its acquisition of $ 80 million. This partnership will enlarge their regional reach and as the demand for bowl cans increases, the acquisitions will help to take the orders from the global market.
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 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 by type, by material, by structure, by bowl can shape, by volume, by fabrication, by application and by geographies.
