Composite Cans Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis and Forecast 2020-2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Others

The global Composite Cans market size surpassed at US$ 4.2 billion in 2019 and expected to grow at a CAGR of 5.5% during the forecast period, 2020-2027.

A Composite Can is a cylindrical paper tube that usually has a body made of several layers of paper and the bases or ends made of metal or plastic. A Composite Can is also sometimes called a Combi container. Composite cans are composed of a body, a bottom closure, and a top closure. There are four main structures in the body of a Composite Can: the aluminum inner web, multipole intermediate webs, and the label web, and the membrane. The base of the composite can is made of metal, plastic and paper board. Composite Cans are used in packaging of every day house hold items such as, drinks, spices & condiments, nuts, tea and coffee etc. Composite cans come in different forms including aluminum membranes with tear tab, paper membranes with or without aluminum coating, paperboard ends and paperboard shakers among others. Variety of closure options are available including, caps, lids and membranes. Tear-off membranes are found to be popular among consumers as it provides consumer convenience for easy opening of the composite can. Composite cans are made using three production techniques such as spiral winding, convolute winding and linear draw. Composite can manufacturers prefer spiral winding process as it is cheaper than convolute winding method and produces composite cans that have good rigidity and strength. Spiral winding production technique is projected to expand at a CAGR of 5.9%.

According to VRR analysis, composite cans are a replacement for metal cans. Composite cans are widely used packages on grocery store shelves. Composite cans are used for various food and non-food applications offering numerous sizes and barrier options to meet the consumer’s demand. The easy open ends allow companies to produce unique packages that stand out in the retail store. Composite cans are highly used for granular and powdered products. Composite cans are lighter in weight as compare to metal and are impeccable choice for consumers. Metal cans account for the highest share in beverage packaging, however now the manufactures are coming up with composite can packaging fir beverage. Composite cans offer barrier protection to keep the freshness and aroma of the food stuffs intact. Barrier coatings are applied to the composite can depending upon the product filled inside. Aluminum foil liner are mostly used for food packaging. Composite cans are vacuum sealed against moisture and oxygen to preserve freshness of the product. VRR believes that increased aluminum and other metal prices and implementation of tariffs on metal raw materials drives the market for composite cans market. Composite cans are used in liquor bottle and perfume bottle packaging. Alcohol and premium spirit bottle packaging experiences a peak growth during the Christmas season and drives the seasonal demand for composite cans. The food and beverage segment is projected to expand at a CAGR of 5.7%.

VRR Key Findings:

Pangea Organics- a skin care product company, provides packaging for its products that is not only biodegradable but also helps the environment. Pangea Organic’s packaging for Ecocentric body/skin care products is plantable. Pangea Organic collaborated with Seeds to Change, the largest producer of organic seeds, to create the first ever, 100% compostable, biodegradable and plantable product packaging. The composite contains seeds of medicinal herbs that are present in the product packed in the box. After planting the box, medicinal herbs spring out of the seeds. Pangea’s product composite cans use PCR paperboard in the first place and embedded the paper layer with flower seeds, giving the consumer the pleasure of growing flower by planting the empty composite can. Pangea’s products are not only biodegradable, but they also help the environment. This initiative by Pangea Organics will motivate other manufacturers to adopt ecofriendly packaging.

Asia-Pacific region to pose lucrative growth opportunities for composite cans market during the forecast period. Due to the economic development, advanced technology and environment awareness composite cans market is likely to soar up in the Asia-Pacific Region. Mainly, the food and beverage segment is the most targeted one. Food & beverage segment in the Asia-Pacific region is projected to expand at a CAGR of 7.6%

The global market for Composite Cans market is segmented as per closure type, production technique, can diameter and end use. Variety of closure options available for composite cans offer consumer convenience for product handling. Composite cans are available in various closures. Can closures can be made if materials such as metal, paperboard or plastic. A single can have more than one material closure. For instance; Pringles Chips composite can has an aluminum foil membrane and has a snap open lid made of plastic. The bottom end of the composite can is made of metal. Composite cans are also available with Re-sealable lids which protect the contents and allow multiple use. Light weight and eye catchy designs drives the market for global composite cans. Composite cans can be manufactured in almost any shape or size: tall and skinny, short and broad, easily meeting the consumer specific requirements. These variety of sizes in height and diameter allows composite cans to have a demanding presence on the retail shelf. The growing demand for potato chips is expected to fuel the composite cans market during the forecast period. Potato chips and crisps are one of the most popular snacks consumed worldwide.

Spiral Winding segment of composite cans market was valued at US$ 2.5 billion in 2019 and is expected to expand at a CAGR of 6% over the forecast period 2018-2026. On the basis of closure type, composite cans market is expected to create incremental $ opportunity of US$ 2,081.5 Million, during the forecast period. The Food & Beverage segment is valued at US$ 1,232.9 Million in 2017 and is expected to reach US$ 2,033.5 Mn, by the end of the forecast period (2019). Production Type segment is anticipated to register a CAGR of 5.2%, during the forecast period.

Consumer preference for composite cans:

RESEALABILITY

Consumers disliked having to transfer food to another container after opening. Composite cans have an easy-to-reseal plastic lid, which means customers don’t have to transfer the food to a different container.

EASE OF OPENING

Consumers also disliked having to use a can opener to get into the packaging. Manufacturers are offering an easy-peel membrane and a resealable lid for the composite can. With this simple, peelable film or a quick pop of the lid, consumers can open the composite can right away without special equipment.

Customer and end-use consumer benefits:

Customer Benefits: Composite cans are easy to run on standard membrane sealing machines and seamers. Composite cans offer a simplified supply chain. Due to the light weight of composite cans they are easy to package and transport and saves shipping costs.

Consumer Benefits: Easy opening of the composite cans provide consumer convenience. High barrier options offer product freshness and aroma preservation.

Recent Developments:

  • Manufacturers are attempting to have their composite cans certified as biodegradable. Companies are investing in R&D that will help find new components to the can bringing new options. Manufacturers are coming up with cardboard end, body and the bioplastic lid to keep the same preservation but to offer a new trend.
  • Beverage packaging is undergoing several developments and one of them includes paperboard or composite cans for beverage packaging. These developments are pioneering in the aseptic can as well as the composite can packaging field. Composite cans are used to pack energy drinks in Germany. Composite cans are favored by European packaging laws and is classified as “Ecological Favorable Packaging”
  • Sonoco, world’s largest producer of paperboard cans or composite cans, entered its UK subsidiary, the market for paperboard cans for liquids. Sonoco offered paperboard cans for the packaging of motor oils.
  • Pangea Organics offers skincare products. The company provides facial and body care products. Pangea Organic’s packaging for Ecocentric body/skin care products is plantable. The composite can contains seeds of medicinal herbs that are present in the product packed in the box. After planting the box, medicinal herbs spring out of the seeds, giving the consumer the pleasure of growing flower by planting the empty jar.

Competitive Landscape

Key players operating in the global market for Composite Cans include Sonoco Products Company, Amcor Ltd, Smurfit Kappa, Mondi Group, Ace Paper Tube, Irwin Packaging Pty Ltd, Halaspack Bt, Quality Container Company, Nagel Paper, and Corex Group Tinpak.

Market Segmentation

By Closure Type
Caps
Lids

By Production Type
Spiral Winding
Convolute Winding
Linear Draw

By Can Diameter
Less than 50 mm
50 mm - 100 mm
100 mm & above

By End-use Application
Food & Beverage
Agriculture
Textiles and Apparels
Personal Care & Cosmetics
Consumer Goods
Industrial Goods

Report Scope

The Composite cans market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Composite cans market for the base year 2020 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Composite cans market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Composite cans market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Composite cans market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Composite cans capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Composite cans by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Composite cans market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Composite cans market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Composite cans market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

For the region, type and application, the sales, revenue and their market share, growth rate are the key research objects; we can research the manufacturers' sales, price, revenue, cost and gross profit and their changes. What's more, we will display the main consumers, raw material manufacturers, distributors, etc.

Geographically, global xxx market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer.

We will provide market shares of the prominent market suppliers/companies separately for each of these geographies.

Overall, this is an in-depth research report specifically for the Composite cans industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Composite cans market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Composite cans market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Composite cans market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Composite cans market. These factors have benefited the growth of the global market for Composite cans. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Composite cans. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Composite cans are as follows:

  • History Year: 2016-2019
  • Base Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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