Segments - Biodegradable Composite Cans Market By Can Diameter (Less than 50 mm, 50 mm-100 mm, and Above 100 mm), By Cans Type (Caps and Lids), By Production Type (Spiral Winding, Convolute Winding, and Linear Draw), By End Use Industry (Food, Beverage, Pharmaceutical, Personal Care & Cosmetics, Consumer Goods, and Others), By Distribution Channel (B2B and B2C), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa (MEA)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2031
The global biodegradable composite cans market was estimated at USD 1,369.8 Million in 2022 and is anticipated to reach USD 2,083.3 Million by 2031, expanding at a CAGR of 4.9% during the forecast period.
Biodegradable composite cans are containers that consist of two ends and a cylindrical body. It is made using composite materials such as cardboard and paper. These cans are cost-effective and versatile in nature. These cans are safe and environmentally friendly. Biodegradable composite cans are always in a cylindrical shape; however, there are many possibilities in terms of the height and diameter of these cans.
Growing consumer and marketing concerns about the environment have compelled companies to offer environmentally friendly goods and services, with a particular emphasis on products that are recyclable and reusable. Many businesses have been producing cans from natural resources during the past few decades.
Recyclable paper is used to create composite paper, which was formerly made with the aid of plastic. In addition to achieve consumer satisfaction with regard to being environmentally friendly, using eco-friendly raw materials in the production of biodegradable composite cans help preserve nature through green product packaging. This is anticipated to drive the biodegradable composite cans market during the forecast period.
Industrialization drives the demand for biodegradable composite cans in food, beverage, pharmaceutical, personal care & cosmetics, consumer goods, and others, making a positive impact on the market. According to the Netherlands Bureau for Economic Policy Analysis (CPB), global industrial production increased by 3.3% in 2022. This reflects an increase in output to the 2.8% annual average for the previous ten years.
China, the US, Japan, Germany, India, South Korea, Italy, France, the UK, and Indonesia are the top 10 manufacturing nations across the globe. In advanced economies, industrial production exceeded pre-pandemic levels in 2022. The main factor driving the production is rising output in other advanced economies. Industrial production has increased in 2022 by 4% as compared to the previous year (2021). This has brought industrial production in these advanced economies to more than 8% above pre-pandemic levels.
The growing economy is increasing the disposable income of people. Hence, a large number of individuals are spending more on food and beverage, which is significantly influenced by disposable income. Therefore, the demand for food and beverages is anticipated to increase the demand for biodegradable composite cans, as they are used in the food industry to package dry and liquid foods, including energy drinks, tea, coffee, pickles, chocolate, and others. Increased disposable income has increased the consumption of biodegradable composite cans, and it is expected to drive the market in the coming years.
Growing environmental concerns have led companies and consumers to search for alternatives to conventional materials. The use of biodegradable composite cans has been accelerated by the growing customer demand for packaging options that are environmentally friendly and sustainable. They are appealing option for people who are becoming increasingly conscious of environmental issues, due to their recyclable nature and use of renewable resources. Biodegradable composite cans are eco-friendly alternatives to conventional packaging materials. Therefore, the market for biodegradable composite cans is anticipated to rise during the forecast period, due to a spike in the demand for sustainability.
The food and beverage packaging business has seen a rise in the usage of biodegradable composite cans because they provide standard packaging for food goods, such as precise dimensional molding and high flexural modules to support anticipated loads. These composite food containers help pack food tightly and reduce the chances of food spillages.
The majority of people, such as students and bachelors, are dependent on online food delivery platforms, which is expected to boost the growth of the composite can market. Biodegradable composite cans are used in the food sector to package dry and liquid foods including energy drinks, tea, coffee, chocolate, and others. These are a few of the main elements that are driving the biodegradable composite cans market by increasing the need for them in food product packaging.
Biodegradable composite cans are an amalgamation of different substrates engineered to a cylindrical shape. There are several methods to make these cans, including linear draw, convolute winding, and spiral winding.
The primary use of biodegradable composite cans is the packaging of dry food goods, including chips, flakes, dried fruits, coffee/tea, spices, dry herbs, and other granular items. The resealable covers on these cans prolong the shelf life of the items and prevent food from being crushed. The freshness of the product is maintained by vacuum-sealing composite cans against moisture and oxygen, which boosts the market.
The biodegradable composite cans supply is less as compared to other material cThe availability of biodegradable composite cans and the high price as compared to other material cans are the main factors that restrain the growth of the market. This limited supply restricts some industries from using biodegradable composite cans.
The report on the Global Biodegradable Composite Cans Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Global Biodegradable Composite Cans Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016 and 2021 |
Forecast Period |
2023–2031 |
Segmentation |
By Can Diameter (Less than 50 mm, 50 mm-100 mm, and Above 100 mm), By Cans Type (Caps and Lids), By Production Type (Spiral Winding, Convolute Winding, and Linear Draw), By End Use Industry (Food, Beverage, Pharmaceutical, Personal Care & Cosmetics, Consumer Goods, and Others), and By Distribution Channel (B2B and B2C) |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
Compocan Industries, Om Compocan & Packaging, Canfab Packaging Inc., Bharath Paper Conversions, Kama Encore Packaging Solutions Private Limited, Trishul Containers, S.K. Packaging Industries, Govinddevji Packaging LLP, Ace Paper Board, Konkan Paper Products, Smurfit Kappa, Sonoco, and WestRock Company |
On the basis of can diameter, the market is divided into less than 50 mm, 50 mm-100 mm, and above 100 mm. Biodegradable composite cans with a diameter of 50 mm to 100 mm are commonly used, and the segment held a market share of XX% in 2022. It is expected to hold XX% market share in 2031, due to its simplicity of storage. This size is suited for frozen food packing in stores.
The demand in this market is predicted to rise during the forecast period, due to the shifting eating patterns of millennial consumers and rising consumption of takeaway & on-the-go food. The ease of handling such cans drive the segment.
On the basis of can type, the market is divided into caps and lids. Caps held XX% market share in the year 2022 and is expected to hold XX% market share in 2031. The segment is anticipated to expand at XX% CAGR during the forecast period. The demand for caps for cans is rising, as they are reused without compromising product safety. Lids are preferred for cans for food items such as snacks, dry foods, and frozen food, owing to reduced risk of spillage.
On the basis of production type, the market is divided into spiral winding, convolute winding, and linear draw. The spiral winding segment held XX% market share in 2022 and is expected to hold XX% market share in 2031.
The segment is gradually growing, as spiral winding is cost-effective, environment friendly, and non-toxic. Many restaurants and cafes have started posting their names on biodegradable composite cans to raise awareness of the product, making the containers attractive and appealing. This spurs the segment.
On the basis of the end-use industry, the market is fragmented into food, beverage, pharmaceutical, personal care & cosmetics, consumer goods, and others.
The food segment held XX% market share in 2022 and is expected to hold XX% market share in 2031. The food as well as beverage segment accounts for the major share of the global composite paper cans market, due to the growing demand for takeaway beverages and ready-to-eat food item deliveries. Additionally, they are the preferred alternative to plastic cans and cups, as they reduce wastage and possess the potential for recycling.
Biodegradable composite cans offer an effective and convenient packaging solution for consumable snacks, nuts, powdered beverages, and ready-to-consume meals. Composite cans have sturdy construction and secure seals to shield items from moisture, light, and air to sustain the freshness and quality of food products, thereby prolonging their shelf life.
On the basis of distribution channel, the market is divided into B2B and B2C. The B2B segment held XX% market share in 2022 and is expected to hold XX% market share in 2031. The Business to Business (B2B) segment is dominating the biodegradable composite market, as biodegradable composite cans are essential for businesses for their production process to build the end-use product.
On the basis of region, the biodegradable composite cans market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
According to the biodegradable composite cans market forecast, North America is expected to emerge as the dominant region of the global market during the forecast period. The market in the region is anticipated to expand at a healthy CAGR of XX% by 2031. Asia Pacific is projected to emerge as the fastest-growing market for biodegradable composite cans during the forecast period. Easy availability of raw materials, cost-effective labor, and availability of the latest production technologies to the top players in the region drive the market in Asia Pacific.
Developing countries such as China and India constitute around XX% and XX% share of the Asia Pacific biodegradable composite cans market. The rise in demand for food & beverages and the emergence of various local & global packaging manufacturers are driving the market in Asia Pacific. The rise in awareness about hygienic packaging for food is also driving the demand for biodegradable composite cans in the region.
In-depth Analysis of the Global Biodegradable Composite Cans Market
Historical, Current, and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Biodegradable Composite Cans Market Performance
Manufacturers operating in the global biodegradable composite cans market include Compocan Industries, Om Compocan & Packaging, Canfab Packaging Inc., Bharath Paper Conversions, Kama Encore Packaging Solutions Private Limited, Trishul Containers, S.K. Packaging Industries, Govinddevji Packaging LLP, Ace Paper Board, Konkan Paper Products, Smurfit Kappa, Sonoco, and WestRock Company.
Key Developments
In November 2023, Sonoco, a manufacturer of composite cans, signed an agreement to supply Pasco Beverage Company composite cans for frozen juice concentrate. Pasco Beverage Company previously produced its own composite cans.
Additional company profiles can be provided on request. For a discussion related to the above findings, click Speak to Analyst.
Supply chain disruptions, fluctuation of raw material prices, environmental regulations, industrialization, and disposal income are some of the macroeconomic factors impacting the market.
Major manufacturers operating in the market include Compocan Industries, Om Compocan & Packaging, Canfab Packaging Inc., Bharath Paper Conversions, Kama Encore Packaging Solutions Private Limited, Trishul Containers, S.K. Packaging Industries, Govinddevji Packaging LLP, Ace Paper Board, Konkan Paper Products, Smurfit Kappa, Sonoco, WestRock Company.
COVID-19 hampered the biodegradable composite cans market moderately, as it is used in various end-use industries.
The base year considered for the global biodegradable composite cans market report is 2022. The complete analysis period is 2016 to 2031, wherein, 2016, and 2021 are the historic years, and the forecast is provided from 2023 to 2031.