The food and beverage metal can market in North America to decline at a CAGR of (1.62%) during the period 2017-2021.
The report covers the present scenario and the growth prospects of the food and beverage metal can market in North America for 2017-2021. To calculate the market size, the report considers the volume of metal cans sold by vendors in different product categories like beverage and food in North America. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is sustainable packaging. Vendors are focusing on developing metal cans that are sustainable and environment-friendly. They have started adopting aluminum and steel as raw materials due to their high recyclability rate compared with other metals. The production of recycled cans saves 55%-95% of the energy, decreases water usage by more than 10%, and replaces the can in the shelf within 60 days of recycling.
Further, the report states that one challenge in the market is fluctuation in raw material prices. The food and beverage metal can market in North America is reaching a saturated state owing to the stable demand and increased competition in the region. Therefore, the major factor deciding the price of metal cans are the raw materials used for their production. The price for raw materials keeps fluctuating due to various factors. The proportion of the cost incurred for raw materials must be passed over to the customers. However, volatility of raw materials makes it difficult to adjust the price of the final product and draw profitable margins.