Bio Cans Market: An Overview
Currently, aluminium is majorly used in the production of cans. Aluminium as a metal can be infinitely recycled and hence does not possess any threat but the portion of aluminium that ends up in the waste field or rivers can take up to 500 years to decompose. Biodegradable cans are a sustainable way of dealing with the waste problem as they have the capacity to decompose in a short period. Bio cans like other biodegradable products can be made from the process of extraction of sugar from the plants also known as bioplastics or from paper.
The bio cans market is still evolving and there are a lot of research projects going on in this sector as with the increase in the per capita income of the consumers globally and general awareness on the topic of waste management they are looking for the product packed in sustainable and degradable material. In the attempt to reduce their carbon footprint many conglomerates are continuously taking steps towards maximizing the use of biodegradable materials in their operations.
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Bio Cans Market: Dynamics
The market size of the beverage cans is growing rapidly with the increasing popularity of sports and energy drinks which is the result of consumer awareness regarding the health benefits in reducing fatigue, improving hydration levels and boosting energy. Currently, there are very few alternatives in the beverage cans sector that are sustainable in nature which give the bio cans market huge potential to grow and replace the traditional packaging material.
According to the American Pet Products Association (APPA), a leading non-profit industry association founded in 1958, the pet products industry has crossed the annual sales of $100 billion in the year 2020 which is the highest level it has ever reached. Cans are used widely in the pet care industry for packaging food items and most of them are made from metal or non-biodegradable plastics The bio cans market is still developing in this sector and potential to replace the ongoing practices with more nature-friendly way.
UN Environment Programme report in 2018 stated that plastic waste of 13 million tons approximately lands into the oceans every year. There is a rise in various measures taken by the governments and federal agencies to cope with the waste disposal and generation problem like banning or controlled the use of single-use plastics that adversely affect the environment has served the companies with the need to adapt biodegradable alternatives for packaging. The usage of bio cans will not only help in reducing and managing solid waste but also will help in reducing the consumption of electricity, emissions and water usage as well. Consumers now are aware of the problem and are looking for companies that can provide an alternative that can reduce the environmental impact causing an increase in demand for the bio cans.
Covid-19 has led to a change in the buying habits of consumers concerning food and beverages. The demand for packaged food products and takeaways or home deliveries has significantly increased and this has created a huge opportunity for the bio cans to replace the existing packaging material. The use of foods served in single-use packaging has shown a rise in the current pandemic giving the bio cans market an edge in the food packaging sector. Bio cans can be used in the packaging of most food items like bakery goods, dried snacks, fresh food packaging, etc. and can provide a sustainable choice to the business owners in an effort of protecting the environment.
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Bio Cans Market: Regional Outlook
Europe region currently contributes the major share in the bio cans market owing to the constant innovations and general demand for the environmentally friendly alternatives. The region holds considerable growth and potential for the bio cans market manufacturers due to circular and low-carbon economy and the support of the government policies for bio-economy. In Europe, the retailers like Dirk Rossmann GmbH, Carrefour S.A., Coop, etc. prefer the use of sustainable options over other packaging options. Furthermore, the growth in awareness in the other regions will help increase the demand for bio cans. The increase the in volume per capita implies a strong growth in the bio cans market. The bio cans market has a huge potential in the Asia Pacific region as with the high population density comes the need for reducing and managing the waste problem and bio cans can prove to be very useful in that sector.
Bio Cans Market: Key Players
Key players in the bio cans market are,
- Smurfit Kappa Group plc
- Mondi plc
- WestRock Company
- NatureWorks LLC
- Tianan Biologic Materials Co. Ltd
- Amcor plc
- Total Corbion PLA
- Clearwater Paper Corporation
- Novamont S.p.A.
- Arkema S.A.
- Matrica S.p.A.
- Kruger Inc.
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