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.
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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 propel the demand for plastic cans in the packaging industry.
Additionally, plastic can packaging provide a significant contribution in protecting food and beverage products. Nowadays, food waste is a key concern across the world, it highly impacts on 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.
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, lightweight, flexible and reduce the cost of production.
Plastic cans have ample benefits, such as light-weight, 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.
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 fulfil 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.
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.
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Some key manufacturers functioning the business in the plastic cans market are
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.