Seaweed Cultivation Market to Hit $30.2 billion by 2025

The seaweed cultivation market size is estimated to be valued at USD 16.7 billion in 2020 and is projected to reach USD 30.2 billion by 2025, recording a CAGR of 12.6% during the forecast period, in terms of value. Seaweeds are plant-like organisms that are also known as marine microalgae; they are generally attached to a rock or other hard substratum in coastal areas. The classification of seaweeds is based on various properties, such as pigmentation, the organization of photosynthetic membranes, the chemical nature of the photosynthetic storage product, and other morphological features. The application of seaweeds dates back to the fourth and sixth centuries in Japan and China, respectively.

Asia Pacific is projected to dominate the regional seaweed cultivation market through 2025

Due to the increasing presence of tropical rainforests in the Asia Pacific, various species of seaweeds are found in this region. With a wide variety of seaweed species in this region and increasing production of the seaweed-based products, Asia Pacific remains the largest supplier of seaweeds to both domestic and export markets. In addition, the bulk of seaweeds in this region is obtained from culturing (harvested through aquaculture). The key seaweed types that are in demand in this region include nori, kombu, and wakame. They are increasingly used in food preparations in the Chinese and Japanese diets. As seaweeds are nutrition-dense and are increasingly used as an ingredient in processed food, consumers prefer spending on processed food for healthy diets. The demand for clean labels and organic products is on the rise, which is also leading to the increasing use of seaweeds as organic fertilizers in the agriculture industry. The other industrial applications of seaweeds in the region include pharmaceuticals, agriculture, cosmetics, biofuel, and feed additives.

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Key Players in the Market

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Cargill, Incorporated (US), DuPont (US), Groupe Roullier (France), CP Kelco U.S., Inc. (US), Acadian Seaplants (US), Qingdao Gather Great Ocean Algae Industry Group (China), Qingdao Seawin Biotech Group Co. Ltd. (China), Qingdao Bright Moon Seaweed Group Co. (China), Seaweed Energy Solutions AS (Norway), The Seaweed Company (Netherlands), Algea (Norway), Seasol (Australia), Gelymar (Chile), Algaia (France), CEAMSA (Spain), COMPO EXPERT (Germany), Leili (China), Irish Seaweeds (Ireland) and AtSeaNova (Belgium).

The food segment is projected to account for a major share in the market during the forecast period

Seaweed is used as an ingredient in food products and is consumed directly in countries such as Japan, Korea, and China since ancient times. As it is rich in nutrients such as high iodine, calcium, magnesium, iron, vitamin, antioxidant, and fiber, seaweed, is widely considered a healthy food. Moreover, seaweeds have various applications as a thickening and gelling agent in processed food products such as sausages, bread, creams, cheese, dairy drinks, and candies. In addition, the use of seaweeds for the manufacturing of low-calorie ice creams and cakes is further projected to fuel the market growth.

The Rise of Sourdough: Exploring Its Popularity in Today’s Market

The sourdough market is estimated at USD 2.3 billion in 2023 and is projected to reach USD 3.5 billion in 2028, at a CAGR of 9.0 %. The growing consumer demand for healthier and more natural food options has led to increased interest in sourdough products. The traditional fermentation process of sourdough resonates with consumers seeking artisanal, authentic, and clean-label bakery items. The trend of exploring unique and diverse flavors has fueled the popularity of sourdough bread, known for its tangy taste and distinct aroma. The rising preference for sustainable and locally sourced ingredients has boosted the market as sourdough can be made with locally produced grains.

The increasing consumer demand for healthier and natural food options drives the market

As consumers prioritize their health and well-being, they are actively seeking alternatives to processed and artificial ingredients. Sourdough, with its natural fermentation process and potential health benefits, aligns well with this demand. Consumers are becoming more aware of the advantages of sourdough, such as improved digestion and potentially lower glycemic index. Additionally, the desire for natural and artisanal products contributes to the growth of the sourdough market as consumers appreciate the authenticity and craftsmanship associated with sourdough bread.

The growing popularity of Type II sourdough is boosting the type segment in the market

Type II sourdough, which typically incorporates additional ingredients or variations, offers a unique and diverse flavor profile compared to basic sourdough types. Consumers are increasingly seeking bakery products with enhanced taste experiences and indulgent flavors, and Type II sourdough satisfies this demand. The inclusion of added grains, fruits, or sweeteners in Type II sourdough provides a wider range of taste options, making it appealing to a broader consumer base. The growing popularity of Type II sourdough is driving the expansion of the type segment within the sourdough market.

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Asia Pacific provides the highest growth prospects for the Sourdough market

The Asia Pacific Sourdough market is expected to grow at a significant rate. The region’s rapid urbanization, expanding middle class, and increasing consumer spending power contribute to the shift towards Western dietary preferences and a rise in health consciousness. Consumers in Asia Pacific are becoming more aware of the benefits of sourdough, such as its natural fermentation process and potential digestive advantages. The popularity of artisanal and gourmet bread products, including sourdough, is on the rise in urban areas. Additionally, the incorporation of sourdough into traditional Asian recipes and baked goods adds to its appeal. The presence of international bakery chains, supermarkets, specialty stores, and e-commerce platforms further drives the availability and accessibility of sourdough products. Moreover, the region’s agricultural abundance allows for the cultivation of high-quality grains and ingredients, supporting the production of premium sourdough products. With shifting consumer preferences, increasing awareness, culinary adaptation, expanding distribution channels, and favorable agricultural conditions, Asia Pacific is set to be a thriving market for sourdough in 2023.

Key players in this market include Puratos (Belgium), IREKS GMBH (Germany), Lallemand Inc. (Canada), Lesaffre (France), BOUDIN BAKERY (US), Goodmills (Austria), and Bake With Brolite (US).

Lutein Market Booming: Eyeing Growth with Functional Foods and Supplements

The global lutein market was valued at USD 371 million in 2023 and is projected to reach USD 488 million by 2028, at a CAGR of 5.6% during the forecast period. The market for lutein is driven by both the pharmaceutical and nutraceutical industries. In the pharmaceutical sector, lutein is used in the production of eye health supplements and medications. In the nutraceutical sector, lutein is included in various dietary supplements and functional foods that promote eye health. The nutraceutical industry refers to the sector that focuses on producing foods, beverages, and dietary supplements that provide health benefits beyond basic nutrition. Lutein is commonly included in nutraceutical products intended to support health.

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The Asia Pacific region accounted for the largest market share, in terms of value, of the global lutein market

Asia Pacific countries, particularly China and India, have well-established agricultural sectors and a strong supply chain infrastructure. These countries have the capability to cultivate lutein-rich crops and process them for various applications. This production capability, coupled with efficient supply chain networks, enables Asia Pacific countries to meet the growing demand for lutein both domestically and internationally, giving them a competitive advantage in the market.

Key players in the market are focusing on new deals and product launches. For example, Kemin Industries, Inc. (US) has expanded its distribution agreement with Diethelm Keller Siber Hegner (DKSH) to include distribution for Kemin Food Technologies – Asia in the Philippines and Indonesia.

The beverage products in by application segment is estimated to grow at the highest in the lutein market

Lutein is often added to functional beverages that aim to provide health benefits beyond basic hydration. Its antioxidant properties make it a valuable ingredient for products targeting eye health, skin health, and overall well-being. Lutein-fortified beverages can include juices, smoothies, and nutritional drinks. Lutein’s vibrant yellow color makes it suitable as a natural colorant in beverages. It can be used to enhance the visual appeal of products such as fruit juices, energy drinks, and carbonated beverages, replacing artificial food colorings. With the growing demand for clean labels and natural ingredients, lutein serves as an attractive option for manufacturers.

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The powder & crystalline in by form segment accounted for the largest share of the lutein market in terms of value

Powdered lutein offers versatility in its application. It can be easily blended with other ingredients, making it suitable for use in a wide range of products, such as dietary supplements, functional foods, and beverages. This versatility makes powdered lutein appealing to manufacturers who want to incorporate lutein into their formulations. Whereas crystalline lutein may have a higher demand in certain specialized applications. For example, in the production of lutein esters, crystalline lutein is preferred due to its purity and ability to form ester bonds. Industries requiring lutein esters for specific formulations or products may drive the demand for crystalline lutein.

Global Trends and Innovations in the Food Emulsifiers Market

The global food emulsifiers market is estimated to be valued at USD 3.6 billion in 2023. It is projected to reach USD 4.6 billion by 2028, recording a CAGR of 4.9% during the forecast period. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global food emulsifiers market. In terms of value sales, this would be strong enough to significantly influence the market during the predicted period. The rise in consumption of convenience foods and bakery products, changing lifestyles, and consumption patterns drive the demand in the food emulsifiers market.

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North America is estimated to dominate the food emulsifiers market in 2028

The food emulsifier market is expected to be dominated by North America in the coming years due to several reasons. The region’s high demand for processed and convenience foods, which rely on food emulsifiers to stabilize mixtures of oil and water, is a significant contributing factor. Furthermore, the presence of major food emulsifier manufacturers in the region such as ADM (US) and Ingredion (US), and the increasing investments in food additives are expected to further drive the market growth. As a result, North America is expected to maintain its leading position in the food emulsifier market in the foreseeable future.

The key players in this market include ADM (US), Cargill, Incorporated (US), International Flavors & Fragrances Inc. (US), Ingredion (US), Kerry Group plc. (Ireland) and Corbion (Netherlands).

The bakery products by application segment are the dominant segment in the food emulsifiers market

The bakery industry has come to dominate the food emulsifier market for years for several reasons. The role of emulsifiers in stabilizing and homogenizing mixtures of oil and water is vital to the baking process, improving texture, appearance, and shelf-life, and reducing fat content. Additionally, there is a growing demand for convenient and affordable foods, including bakery products, driving the expansion of the bakery industry which has also been increasing the demand for food emulsifiers. This has led bakery products to dominate the largest market share in food emulsifiers.

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Mono- & Di-Glycerides and Their Derivatives hold the largest market share for food emulsifiers

Mono- & di-Glycerides and their derivatives have become increasingly prevalent in the food industry due to their emulsifying and stabilizing properties, which can improve the texture, consistency, and shelf-life of food products. This type of food emulsifier is more commonly used than other types due to its cost-effectiveness, versatility, neutral flavor, clean label status, unique properties, and suitability for plant-based diets. Mono- and diglycerides are derived from natural sources such as vegetable oils, and their non-toxic and non-allergenic properties make them an attractive option for clean-label products. They are also easy to use and have unique properties that make them ideal for specific food products, such as bakery goods and dairy products.

Exploring the Future: Trends and Innovations in the Hydrocolloids Market

The global hydrocolloids market is estimated to be valued at USD 11.2 billion in 2023 and is projected to reach USD 14.5 billion by 2028, at a CAGR of 5.4% during the forecast period. The exponential growth in the natural and clean-label food consumption across the food and beverage industry due to its growing awareness has influenced the use of hydrocolloids. Moreover, this has led to an increase in dependence on natural fibers and gums for functional properties, stability, safety, and quality of food products. According to the American Oil chemist society Journal of 2015, hydrocolloids, apart from imparting textural properties, also enhance the nutritional properties of the food as they contain nearly 60%-90% of dietary fibers.

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In terms of type, pectin is estimated to be the fastest type segment during the forecast period

Pectin is an important polysaccharide with applications in food, pharmaceuticals, and many other industries. It is used as an emulsifier, gelling agent, thickener, stabilizer, and fat or sugar replacer in a low-calorie food. Pectin and pectin-derived oligosaccharides can also be used as important ingredients in functional food. Its importance in the food sector lies in its ability to form a gel in the presence of Ca2+ ions or a solute at low pH.

The seaweed segment by source in the hydrocolloids market is projected to grow at the highest CAGR during the forecasted period

Seaweed-derived hydrocolloids mainly include alginate, carrageenan, and agar, which are important parts of the food ingredient industry. The three types of hydrocolloids are natural hydrophilic polymers existing in the cell walls and extracellular matrixes of brown and red seaweeds that can be extracted through a series of chemical and physical processes. Owing to their excellent thickening, gelling, film-forming, and other novel properties, alginate, carrageenan, and agar are widely used in the functional food industry. Seaweed hydrocolloids find application as thickeners, stabilizers, coagulants, and salves (in the wound and burn dressings) and they are used as materials to produce bio-medical impressions in the food, pharmaceutical, and biotechnology industries.

The Cosmetics & personal care products segment is projected to be the second-largest market in the forecasted period

Recently, hydrocolloids have found a fit in the personal care industry, often replacing synthetic chemicals with similar properties. Driven by consumers’ thirst for “all-natural” products, many manufacturers are trying to leverage the long history of hydrocolloids in the food industry for personal care applications. Therefore, with wide consumer interest in natural cosmetics, the number and demand for natural texturizers have grown strongly in recent years.

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Health Benefits and Applications of Specialty Yeast in Nutraceuticals

The global specialty yeast market size is projected to reach USD 4.6 billion by 2027.According to MarketsandMarkets analysis, the global specialty yeast market is estimated to be valued at USD 3.2 billion in 2022. It is projected to reach USD 4.6 billion by 2027, with a CAGR of 7.0%, in terms of value between 2022 and 2027. The reasons that are driving the growth of the specialty yeast market are increasing demand of specialty yeast products across various food, beverage, feed and other industries such as healthcare, biotechnology, cosmetics among others that are contributing significantly to their growth. Specialty yeast products enhance the nutritional profile of the various food and feed products and provide a strong taste and flavor offering due to which they are in significant demand from the food industries.

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Europe is projected to be the largest market for the specialty yeast industry during the forecast period

Based on region, Europe is projected to be the largest market for specialty yeast industry during the forecast period. The growth of the specialty yeast in the region is supported by the well-established food & beverage industries and the increased demand for natural ingredients, which have led to the widespread acceptance of yeast extracts in the region. The recent growth of the bioethanol industry in the European market has also significantly contributed to the growth of the specialty yeast market in Europe.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such Associated British Foods Plc (UK), ADM (US), Lallemand Inc. (Canada), DSM (Netherlands), Chr. Hansen Holding A/S (Denmark), Kerry Group Plc. (Ireland), Lesaffre (France), AngelYeast Co., Ltd. (China), Biorigin (Brazil), Kemin Industries, Inc. (US).

The food segment is projected to retain its position as the dominant segment in the specialty yeast market during the forecast period

Based on application, the food segment is expected to retain its position as the dominant and the fastest-growing segment during the forecast period. The specialty yeasts witness growing demand from the food industry as they cater to many food products such as bakery products, functional foods, savory products and other food applications such as food flavorings, soups, snacks, sauces and seasonings.

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Yeast extracts account for the largest market share in the specialty yeast market

Based on type, yeast extracts account for the dominant share in the specialty yeast market. Due to the recent global rise in awareness regarding natural ingredients and products, yeast extracts have been able to gain significant traction in the industry as a natural ingredient. It also offers various desirable characteristics such as amino acids, carbohydrates, minerals and vitamins and find a range of applications across a large number of food products such as soups, sauces, meat preparations and savory mixes.

Fruit & Vegetable Ingredients Market: Growth Drivers, Growing Segments and Forecasts

Fruit & vegetable ingredients market size was valued at USD 218.0 billion in 2022 and is projected to reach USD 280.9 billion by 2027, growing at a CAGR of 5.2% during the forecast period 2022-2027. The rising demand for better functional ingredients, developments in processed food, favorable functionalities of fruit and vegetable ingredients in various end-use industries and increasing use of clean label products are the major market drivers and opportunities that will influence the global fruit & vegetable ingredients market. Significant changes in the food & beverage processing industry over the last two decades have resulted in the high demand for packaged & processed food & beverage products.

Key Players

The key players in fruit & vegetable ingredients market include Cargill Incorporated (US), ADM (US), Ingredion, Tate & Lyle(U.K), DöhlerGmbH(Germany), Kerry(Ireland), Sensient Technologies(U.S), AGRANA Beteiligungs-AG(Austria), and SunOpta(Canada), etc.

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Europe accounted for the largest market share of 36.9%

In 2021, Europe accounted for a market share of 36.9% in the global fruit & vegetable ingredient market. The European fruit & vegetable ingredients market is completely driven by the German market. The German food & beverage processing industry accommodates the fruit & vegetable ingredients sector with a large consumer base with high purchasing power and good infrastructure for further processing. In the German market for fruit & vegetable ingredients, this growth is likely to be catapulted by the country’s attractive and competitive location factors, which are underpinned by an above average export rate of around 45% of the total exports. The market is characterized by its small- and medium-sized enterprise sectors. The largest industry segments, by production value, are confectionery, bakery products, and dairy products. Other growth segments are fueled by the health and wellness trend, which has led to increased demand for healthy food & beverage products.

Rising demand for sustainable products is rapidly growing fruit& vegetable ingredients market

Sustainability certification in the processed fruits & vegetables sector was once used to target niche markets (such as Fairtrade), but now sustainability claims and certification are one of the main trends in the mainstream market. The importance of sustainability created a new type of shopper – Eco-Actives. They are shoppers who are highly concerned about the environment and are taking action to reduce their waste.

Inclination of consumers towards healthier alternatives is boosting fruit & vegetable ingredients market

In recent years, consumers have become increasingly conscious of adopting a healthy diet. This has led to a higher demand for healthy snacks and, more specifically, fruits & vegetables, and the need for cleaner, more natural products. As fruits & vegetables are highly perishable, people are switching towards alternatives containing natural fruits & vegetables, which is driving the market for fruit & vegetable ingredients.

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Food and Beverage Industry Pumps Market Share and Size-2027

The global food & beverages industry pumps market is estimated to be valued at USD 9.9 billion in 2022. It is projected to reach USD 12.9 billion by 2027, recording a CAGR of 5.3% during the forecast period. Food manufacturers are increasingly focusing their attention on achieving low production costs, rapid turnaround time, and high yield. This is facilitated through incorporating advanced pump technologies. The form in which the food material being processed comes in significantly influences the specific type of pumps employed as some food & beverage industry pumps are better suited for one form over another.

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Increase in demand for meat and poultry in Asia pacific

The consumption and production of meat, particularly in developed countries, remains high. The demand for meat and poultry products is expected to increase in developed countries such as the US, supported by factors such as lower prices of beef, pork, and poultry; increasing focus on enhancing the shelf life, quality, and safety of meat products; and the rising per capita consumption of meat. Meat & poultry-related pumps are expected to offer significant potential due to the growing meat & poultry industry. According to an article on Food Price Outlook, 2018, published by the USDA Economic Research Service, “the year 2018 is expected to exhibit a positive outlook for the pork industry as the number of pork processing facilities is expected to increase, which is expected to drive pork production further.”

Configured to grow at the fastest CAGR during the forecast period.

Configured pumps are sized and configured according to the flow rate and pressure requirements of the system or service. Pumps and pumping system components must be configured according to the needs of the end-use processes. There are several steps involved in the configuration of a pumping system. These include determining the proper pipe size, designing a piping system layout that minimizes pressure drops, and selecting low-loss components. To determine the proper pipe size, designers must balance the initial cost of the pipe against the cost of pushing fluid through it. Larger pipes create less friction loss for a given flow rate; however, larger pipes also have higher material and installation costs.

The 15-30 bar segment is expected to grow at the highest rate

Dosing pumps are small positive displacement pumps that are widely used in the food industry. These pumps are highly valued by convenience food and bakery manufacturing plants for their ability to precisely dose fluids with particles at high flow rates. They can also handle dairy products, sugar, and starches, as well as meat, fish, and animal food, and have a maximum pressure of 20 bar. Pumps in this pressure range are used in the meat & poultry processing industry. Progressive cavity pumps are a type of rotary volumetric pumps that fall into this category. These pumps are commonly found in the food processing industry. They are designed to meet the most stringent hygiene standards and have a consistent flow. Dairy products benefit greatly from this technology (milk, eggs, and yogurts). They are also used in the fruit handling industry and can have maximum pressures of up to 24 bars.

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Medium Chain Triglycerides Market is Expected to Reach $1034 million by 2026

The global medium chain triglycerides market was valued at $763 million in 2021, and is projected to reach $1,034 million by 2026, growing at a CAGR of 6.3% from 2021 to 2026. The surge in global Internet penetration would be another influential trend in driving the market in terms of sales. Manufacturers and distributors are using the Internet to spread awareness about their products and services among target consumers and simultaneously generate sales. Medium-chain triglycerides are used in various end-user industries, such as nutritional supplements, infant formula, cosmetics & personal care, and pharmaceuticals. Some of the end-user companies are Conagra, Unilever, ITC, General Mills, Kellogg’s, and Nestle.

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The caprylic acid segment dominated the market with a share of 50.4% in 2020, in terms of value

The caprylic acid segment dominated the market with a share of 50.4% in 2020, in terms of value as Caprylic acid does not have an offensive taste or smell. Thus, it is often the primary MCT used in MCT oil. Caprylic triglyceride is a compound that comes from combining fatty acids with glycerin. The fatty acids in the compound are medium-chain triglycerides (MCTs). Caprylic acid is also known for its antiviral, antibacterial and antifungal properties, and can help treat skin disorders and acne. It’s also useful for treating urinary tract infections, bladder infections, STIs, and even gingivitis. It also helps to burn excess calories, which in turn leads to weight loss. The liver finds it easy to break down, or oxidize, MCFAs such as caprylic acid. This faster rate of oxidation leads to a higher rate of energy expenditure.

The nutritional supplements segment by application dominated the market, with a share of 25.9%

The nutritional supplements segment accounted for the major share of 25.9% in 2020, with a total value of USD 186.5 million. Medium-chain triglycerides aid in weight loss by reducing calorie intake and fat storage and increasing fullness, calorie burning, and ketone levels on low-carb diets.

Medium-chain triglycerides have numerous health benefits, ranging from better weight management to improved cognitive functioning. Saturated fats and MCTs are good for consumption on daily basis; they help in reducing the risks associated with hormone imbalances, weight gain, gut problems, and cognitive disorders. They also support maintenance of a healthy gut environment. MCTs are digested more rapidly than long chain triglycerides. It helps in reducing stored body fat by raising metabolic function and helps in better digestion and gives more energy. MCTs are not stored in fat deposits in the body as much as LCTs. Furthermore, MCTs have been shown to enhance thermogenesis (i.e., fat burning). So, they seem to offer a triple approach to weight loss – they have a lower calorie content than other fats, are minimally stored as fat, and contribute to enhanced metabolism to burn even more calories.

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China dominated the Asia Pacific market for Medium-Chain Triglycerides with a share of about 31.1%

China accounted for about 31.1% of the medium-chain triglycerides market in the Asia Pacific region in 2020, in terms of value, making it one of the most robustly growing markets in the region. The demand for medium-chain triglycerides is increasing in China due to changing lifestyles of consumers and preferences. The increasing purchasing power of consumers due to the economic development in China has led to the increase in demand for high-quality processed foods, nutritional diet, personal care, and cosmetics products. Hence, the market for medium-chain triglycerides is projected to increase as it is an essential additive in nutritional supplements, infant formula, sports drinks, pharmaceuticals, personal care, and other applications.

The country has witnessed an increase in the number of chronic disease incidences, thereby propelling the market for functional food ingredients. According to the WHO, in 2019, the prevalence of diabetes, heart diseases, and cancer, in the country rose nine-fold within a single generation and faster than the global average rate.

Key players in this market include BASF SE (Germany), Koninklijke DSM N.V. (the Netherlands), Dupont(US), Lonza Group Ltd(Switzerland), Musim Mas Holdings(Singapore), Croda International Plc(UK), P&G Chemicals (US), Acme-Hardesty Company(Bluebell, PA), Wilmar International Limited( Singapore), Stepan Company (US), Sternchemie GmbH & Co. KG(Germany), Emery Oleochemicals Group(US), KLK Oleo(Malaysia), Nutricia(New Zealand), Connoils (US), Now foods(US), Barleans (Washington), Jarrow formula’s(US), Nutiva(US), Henry Lamotte Oils GmbH (Germany).

Dominating the Drinkscape: How Beverage Cans are Winning Consumers

The beverage cans market was valued at USD 23.7 Billion in 2021 and is projected to reach USD 31.2 Billion by 2026, expanding at a growth rate of 5.6% during the forecast period. North America dominated the beverage cans market. The rise in the production of alcoholic beverages, such as beer and ready-to-drink cocktail products, has resulted in premium packaging solutions, thereby triggering the demand for cans.

The non-alcoholic beverage segment by beverage type is projected to achieve the largest growth in the beverage can market.

The non-alcoholic beverage segment dominated the market. The rise in the production of carbonated soft drinks has resulted in the dominance of the non-alcoholic beverage segment. From the consumer side, there is a significant increase in the demand of sports drinks and energy drinks will also boost the market of non-alcoholic beverages globally.

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By structure, the 2-piece segment is projected to account for the fastest growth in the beverage can market

2-piece food cans are lightweight and available with a stackable feature, because of which they can save shelf space. With a continuously evolving packaging technology, the structure of the cans has also been improving with seamless can body and ease of printing on full cans; hence, 2-piece cans are estimated to replace 3-piece cans. These all factors support the high growth rate of 2-piece segment globally.

The aluminium segment by material type is projected to account for the largest growth of the beverage can market over the forecast period

Alunimium segment is the largest segment for the beverage cans market by material type owing to its cost effectiveness and properties. Aluminum is a very cost-effective raw material used in industry and can customize the packaging with colors, 3D prints, and embossing. Therefore, technological developments have led the manufacturers to remodel their strategies by using various sizes of cans, along with different shapes. Aluminum cans are convenient to keep in the fridge and ovens.

Asia Pacific is projected to be the fastest growing market

Asia Pacific accounted for greater growth in the global cans market for beverages during the forecast period. Countries, such as China and India, have significantly contributed to the growth of the cans market for beverages in the Asia Pacific region. These countries have a high population density and are the leading producers of fruits. These factors are projected to drive the demand for beverages such as juices and functional drinks in the region.

Key Market Players

The key players in this market include Crown Holdings Inc. (Philadelphia, US), ArdaghGroup S.A, (Luxemburg), CPMC Holdings Limited (China), Toyo Seikan Group Holdings Ltd. (Tokyo, Japan), Can-One Berhad (Malaysia), Can-Pack S.A (Poland), Ball Corporation (Colorado, US), Envases Universales (Spain), Universal Can Corporation (Tokyo, Japan), Interpack Group Inc. (China), GZ Industries (Nigeria), Showa Denko K.K (Tokyo, Japan), Swan Industries (Thailand) Limited (Thailand), Nampak Bevcan Limited (South Africa), The Olayan Group (Saudi Arabia), and Techpack Solutions Pvt Limited (Seoul, South Korea).

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