17.05.2017, 01:57
Metal Cans and Glass Jars Manufacturers Focus on Product Innovation
OREANDA-NEWS. May 17, 2017. The emergence of different types of plastics in the packaging industry has played a major role in limiting the demand for metal cans and glass jars across the globe and the trend in India and Iran stand no different. The low weight and cost, sturdiness, and high flexibility helped plastics in ruling the industry. A study by Transparency Market Research (TMR) indicates that demand for glass jars and metal cans will remain confined to niche segments in the food and beverage sector.
According to the report, the India and Iran metal cans market is poised to exhibit a moderate CAGR of 2.2% from 2016 to 2024, reaching a valuation of US$38.2 mn by 2024 from US$31.6 mn in 2015. Over the same period, the market for glass jars in India and Iran is estimated to register a CAGR of 3.6%, rising to a valuation of US$184.9 mn by 2024 from US$135.3 mn in 2015. A TMR analyst states that the rising awareness regarding the harmful effects of non-biodegradable plastics on the environment will act as a light at the end of the tunnel for metal cans and glass jars manufacturers.
What are the strategies adopted by metal cans and glass jar manufacturers in India and Iran to overcome the soaring threat from plastics?
Innovation is the key to success in the metal cans and glass jar industries. Companies operating in India and Iran are pouring funds into the development of products with features such as easy-open lids, EZO cans, and self-heating cans. Similarly, glass jar manufacturers are using different types of glasses to add more features and aesthetics to their offerings.
Metals and glasses have an upper hand over plastics when it comes to recycling. There are increasing investments in glass and metal recycling and reuse capabilities as these practices are not only cost-effective for manufacturers but also beneficial for the environment. To ensure sustainable growth, manufacturers are trying to spread awareness regarding these long terms benefits of their offerings, which in turn is likely to escalate the growth of the India and Iran metal cans and glass jars market.
According to the report, the India and Iran metal cans market is poised to exhibit a moderate CAGR of 2.2% from 2016 to 2024, reaching a valuation of US$38.2 mn by 2024 from US$31.6 mn in 2015. Over the same period, the market for glass jars in India and Iran is estimated to register a CAGR of 3.6%, rising to a valuation of US$184.9 mn by 2024 from US$135.3 mn in 2015. A TMR analyst states that the rising awareness regarding the harmful effects of non-biodegradable plastics on the environment will act as a light at the end of the tunnel for metal cans and glass jars manufacturers.
What are the strategies adopted by metal cans and glass jar manufacturers in India and Iran to overcome the soaring threat from plastics?
Innovation is the key to success in the metal cans and glass jar industries. Companies operating in India and Iran are pouring funds into the development of products with features such as easy-open lids, EZO cans, and self-heating cans. Similarly, glass jar manufacturers are using different types of glasses to add more features and aesthetics to their offerings.
Metals and glasses have an upper hand over plastics when it comes to recycling. There are increasing investments in glass and metal recycling and reuse capabilities as these practices are not only cost-effective for manufacturers but also beneficial for the environment. To ensure sustainable growth, manufacturers are trying to spread awareness regarding these long terms benefits of their offerings, which in turn is likely to escalate the growth of the India and Iran metal cans and glass jars market.
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