Market Trends of GCC Metal Cans Industry
This section covers the major market trends shaping the GCC Metal Cans Market according to our research experts:
Aluminium Cans Expected to Hold a Significant Share
- Aluminum cans are expected to hold a significant share due to the introduction of new products and packaging solutions, which is giving rise to more variants of products that are accessible to the consumers, thus, leading to growth in sales of canned food products.
- A major trend seen in the market is a significant shift in consumer behavior, particularly among the millennials and younger generations in gulf countries. As a result, the consumers are more willing to try new products, especially the ones with natural and organic ingredients, which is expected to provide significant opportunities for aerosol cans.
- However, increasing health awareness among the population is leading to higher purchase rates of fresh frozen or canned products, as the former is perceived to be healthier. This is expected to constrain the demand for canned food products.
- Moreover, the standardization of the 'Made in UAE' initiative, which introduces the local manufacturers to the global market, is helping the country to reduce its reliance on imports and to strengthen its export potential. The positive growth of this kind in the manufacturing sector has encouraged considerable investments in the packaging industry. Most of the investments in the packaging sector are made toward adjusting their packaging practices to the country's current economic situation and evolving standards.
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United Arab Emirates Expected to Dominate
- The United Arab Emirates is expected to dominate the Metal Cans Market in the Middle-East and Africa region, owing to the increasing demand for organic foods in the country. As per Global Organic Trade Guide, Organic products in the United Arab Emirates registered a market value of USD 32.6 million, representing about 0.05% of global demand, with a per capita expenditure of USD 3.49 in 2021.
- As the market for organic beverages evolves and consumers become increasingly health-conscious, demand for organic products is expected to continue to increase, leading to a value of USD 38.9 million by 2025.
- Additionally, in recognition of its future potential to contribute to Dubai's economic growth and sustainability, it was selected as one of the six focus sectors of the Dubai Industrial Strategy 2030.
- Furthermore, the growing ex-pat population, which comprises around 48% of the total population in the United Arab Emirates, is further expected to help drive the market for canned food products due to the ease of convenience.
- The country also has a considerable demand for packaging solutions from the personal care and cosmetics industries. A recent report released by the Dubai Chamber of Commerce and Industry has projected the UAE's retail sales to reach USD 70.5 billion (Dh259 billion) by 2025 - an annual growth of 6.6%.
- With the country's population estimated to increase to 10 million by 2025 and tourism numbers poised to reach 20 million, The United Arab Emirates generated around USD 24.62 billion in the tourism sector alone. This corresponds to 6.9% of its gross domestic product and approximately 35 percent of all international tourism receipts in Western Asia. The market outlook for goods packed in metal cans is expected to remain positive.
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