Europe Food Can Market was valued at $10.17 billion in 2015 and is expected to continue with the growing streak due to soaring demand for packaged food. The need of superior packaging alternative can act as a driver this market over a given period. Frequent changes in the price of raw material can act as a barrier in industry growth. The canned fish products will be in demand because of lifestyle of the consumers in European economics. It is forecasted that that demand for exotic fish and fish products will eventually go up. Spain and Italy are two economies that have high imports of large scale production of canned fish products. In Europe UK is important market for food can and it will increase at a significant rate observing the consumer demand for packaged products.
The dependency of consumer on meat and powdered products packages will have a positive impact on the industry growth. This market segment will benefit from demand for sustainable natural food and organic food product for their pets. Higher nutrient preservation by such packaging will act as driver for metal packaging for pet food. The technological advancement has to be considered for the production of new products with superior product dispensing characteristics and increased aesthetic appeal. Another important driver can be higher convenience level with metal packaging. The market in Europe is characterized by product innovations and production technologies. In addition, the need for increase in the profit margins of can manufacturers promotes investment in the advancement of production technology to reduce raw material requirement and increase production efficiency.
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Over a period from 2016 to 2025, Aluminium food cans are expected to register growth at CAGR of over 2% in comparison with Steel cans. Also they are light in weight and has superior strength. In addition, ease of printing on the product coupled with easier can design modifications is expected to emerge as the major growth drivers. In European market Steel food cans has a significant market share due to its properties like recyclability and excellent temper resistance. Increase in packaging of single serve meals and edible products can act as driver for high volume demands of Steel cans. However, it is expected to witness limited demand because of Aluminium cans.
The use of the product for packaging fruits is expected to account for over 25% of the revenue in Europe driven by a high production volume of canned fruits in Russia. The demand for the product by the consumers across the region is expected to be driven by the use in salads and fruit puddings. Consumption of corned meat has lead to expansion in meat can industry in Europe. Major food cans manufacturer such as Crown holding in France has expanded its business that has lead to growth in segment in the region. Period from 2016-2025 will notice a growth at a rate of CAGR of over 1% by revenue for ready meals and reason for it is natural likings of consumers from Germany and Russia. Rising demand for fresh cooked food can be a restraint for its growth.
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Over a given time period CAGR of over 3% by revenue is a expected market growth in Turkey which makes it a key market for the product. . The demand is expected to benefit from the rapidly changing economic conditions leading to an increase in consumer changing power. Germany on the other hand accounted over 8% of volume share in Europe by consumption of meat and fish products in the region. Change in consumer preference towards adoption of fresh products has affected a growth by small margin in the region.
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The industry exhibits the presence of a number of large players operating their businesses through high production capacities and an extensive distribution network. The manufacturers in the region lay high emphasis on the research & development for the production of advanced cans to attract the consumers. The manufacturers provide empty cans to the food processing companies that fill the product either through self-owned filling locations or through third party filling companies. The advantages of a third party filling include the cost reduction in the operations and setting up of the filling channels by the processing companies. This report forecasts revenue and volume growth at country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025.
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