The demand within the global metal cans and glass jars market is expected to rise in the times to follow. The importance of metal cans in the residential sector cannot be undermined. These cans are used to store grains, flour, spices, sugar, and a range of other food ingredients. The quality of metallic glass jars has played a vital role in driving demand within the global market. Furthermore, the unprecedented need for metal cans in restaurants and food-processing units has also garnered the attention of the market players. Glass jars are often used in conjunction with metal cans, and this is an important dynamic of market growth. The next decade is expected to witness the inflow of increased revenues in the global metal cans and glass jars market.
- Sellers of cans and containers sell glass and metal jars as complementary products. These sellers have developed customized packs that contain a set of jars and cans made from glass and steel. The strategy of crossing-selling has helped these market players in attracting key revenues in recent times. Market players lay optimal focus on conceptualizing new and improved designs in order to attract a larger consumer base. This strategy shall help market vendors in generating sustainable revenues, while attracting a larger consumer base.
- Product differentiation, based on colour, shape, and size, has helped vendors in earning new customers in the market. Besides, improved positioning of products has also created fresh opportunities for growth within the global metal cans and glass jars market. The need for glass cans for storing and serving water across restaurants and hotels has aided market growth.
- It is expected that the revenue index of the global metal cans and glass jars market would improve in the times to follow. This projection majorly rests on the growing use of metal cans in the industrial sector.
Preference for plastic and paper packaging will continue to be the major restraint for metal and glass packaging in the years to come, and has had a major impact on the overall demand for metal cans and glass jars in India and Iran. Since the emergence of plastic in the packaging industry, the markets for glass and metal packaging have significantly tumbled across the entire globe.
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Glass has conventionally been used across a number of industries such as food products, alcoholic and non-alcoholic beverages, and pharmaceuticals. However, low cost, low weight, sturdiness, and flexibility weighed in favor of plastics and a variety of plastics continued ruling the packaging sector. In the future too, the plastic market will continue to influence the packaging industry. The demand for metal cans and glass jars will remain confined to specialty segments in the food industry.
TMR’s findings suggest that the market for metal cans in India and Iran will expand at a moderate 2.2% CAGR over the period between 2016 and 2024, rising from a valuation of US$31.6 mn in 2015 to US$38.2 mn by 2024. Over this period, the glass jars market in India and Iran will expand at a 3.6% CAGR and rise to US$184.9 mn by 2024. The market will be driven by rising consciousness among consumers regarding the harms of mostly non-biodegradable plastics used in the packaging industry on the environment and increased investments in metal and glass recycling and reuse capabilities.
Demand from Food Industry to Grant Sustainable Business Prospects
Both the metal cans and glass jar markets are accountable to the food industry for a dominant share in their revenues in India and Iran. The sector of preserved food led to major growth opportunities for these markets in both the countries in the past few years. The rising popularity of easy-to-cook and readily consumable food products in fast-paced urban dwellings is the major factor leading to the favorable demand for metal cans and glass jars in these regions. Demand for metal cans and glass jars is also expected to expand at the fastest CAGR, an estimated 3.3%, over the period between 2016 and 2024 in the packaged food section across these countries. Other applications in the food industry, such as chocolates, health drink powder, and confectionaries will lead to low to moderate growth opportunities for the metal cans and glass jar markets in India and Iran.
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We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The report comprises profiles of major companies operating in the global and India and Iran metal cans and glass jars market. Key players profiled in the report include Ardagh Group, Ball Corporation, Crown Holdings Inc., Rexam PLC, Amcor Limited, Bormioli Rocco SpA, Gerresheimer AG, Heinz-Glas GmbH, Piramal Glass Limited, Saint-Gobain S.A., Vetropack Holding AG, Wiegand-Glas GmbH, Stolzle-Oberglas GmbH., Hindustan National Glass & Industries Limited (HNGIL), HSIL, Haldyn Glass Ltd., Shishe & Gaz Glass Manufacturing Co., Hamadan Glass Company, Crystal Iran Co., Hindustan Tin Works Ltd., Kaira Can Company Limited, Iran Ghouti, Tabriz Can Industries, and Farr Co. Ltd. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.