Self-chilling cans: Introduction & Significance
Self-chilling cans are innovative beverage packaging solutions, with the ability to maintain the temperature below a pre-fixed range. Beverage and retail giants, such as Miller Brewing Company and 7-Eleven, have started selling selective products in self-chilling cans. The success of the self-chilling cans as a product is justified due to their well-timed launch. Products, such as self-chilling cans, are ideal to cater to the growth in on-the-go food & beverage consumption of modern conusmers. Growing urbanization in developing economies of the Asia-Pacific region, such as China, India and the ASEAN countries, in the last decade has led to substantial changes in lifestyle and consumer spending habits. The rise in demand for smaller, more portable and consumer convenient packaging formats is expected to create significant opportunities for the growth of the global self-chilling cans market. With manufacturers of beverage cans inclining towards technology integration and features which emphasize on consumer engagament, self-chilling cans are well-positioned to witness increased sales during the forecast period.
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The methodology used to arrive at the market size for self-chilling cans is as follows –
The collected numbers are primarily obtained from the top manufacturers of self-chilling cans in the world, their product offerings, sales revenues in each market verticals. Sales revenue from self-chilling cans market was estimated after comprehensive product mapping. Various market and industry experts, which include sales and marketing heads of self-chilling can manufacturing companies and independent consultants, were contacted to validate the penetration of self-chilling technology in the total beverage cans market. Since very few companies manufacture self-chilling cans, high importance has been given to the supply-side analysis.
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For the demand-side analysis, a consumer survey was carried out (n = 100). The inputs were used to get an understanding of the consumer perceptions. It has been found that most consumers are willing to pay a premium price as they can now have their favorite beverage chilled-on-demand.
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Global Self-chilling cans market: Segmentation
The global Self-chilling cans market has been segmented as follows –
On the basis of activating mechanism, the global Self-chilling cans market has been segmented as follows –
- Push button activation
- Twist activation
On the basis of capacity, the global Self-chilling cans market has been segmented as follows –
- 4 fl-Oz. can
- 16-Oz. can
- >16-Oz. can
*Pricing of Self-chilling cans has been tracked on the basis of capacity.
Global Self-chilling cans market: Key Players
Two key players which manufacture self-chilling cans are –
- Crown Holdings, Inc.
- The Joseph Company International Inc.