The ‘Global Beverage Cans Market Share, Size, Trends, Price, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global beverage cans market, assessing the market on the basis of its segments like products, applications, and major regions.
Beverage Cans Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Over USD 36.49 Billion
• Forecast CAGR (2023-2028): 5.30%
The beverage cans market is being aided by the growing demand for on-the-go drinks and the extensive popularity of carbonated beverages. With the growing trend of outdoor activities like hiking and camping, the preference for beverage cans owing to their portability and durability is increasing.
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There is a wide demand for aluminium cans owing to their recyclability, extended shelf stability, storage efficiency, and lightweight properties. Aluminium cans are also cost-effective, corrosion-resistant, and provide insulation from moisture and light, which is bolstering their appeal in beverage packaging.
The growing focus on beverage quality and safety is fuelling the usage of beverage cans. Besides, the growing demand for sustainable packaging, coupled with print, colour, and design customisations offered by aluminium cans, is driving the overall beverage cans market demand.
Beverage Cans Industry Definition and Major Segments
Beverage cans, variously known as drink cans, refer to metal containers that are used for packaging a single serving of beverages. They are typically made up of metals, including aluminium and steel, and are utilised to pack carbonated drinks, energy drinks, herbal teas, and alcoholic drinks, among others. Cans enhance the safety of beverages, increase their appeal, and bolster their shelf stability.
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The market, on the basis of product, is categorised into:
• Steel
• Aluminium
Based on application, the market is divided into:
• Alcoholic Beverages
• Carbonated Drinks
• Fruits and Vegetable Juices
• Others
The major regional markets of beverage cans include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Beverage Cans Market Trends
The growing health consciousness and the reduced consumption of alcohol among the young population are increasing the usage of cans in packaging good-for-you beverages. Moreover, the surging launches of innovative sports drinks and juices are likely to augment the beverage cans market demand.
The increasing disposable incomes in developing countries are bolstering the demand for packaged foods and beverages, hence surging the utilisation of beverage cans. Moreover, in venues, such as arenas and sporting events, where the use of glass bottles is restricted, the usage of beverage cans owing to their durability, convenience, portability, and lightweight is rising.
Beverage manufacturers are preferring cans to enhance their branding opportunities and drive customer interest. Furthermore, with the introduction of stringent government regulations aimed at reducing the use of plastic packaging, especially in Europe and North America, the demand for beverage cans is anticipated to surge in the coming years.
Key Market Players
The major players in the beverage cans market report are Ball Corporation, Crown Holdings, Inc., GZI Industries Limited, CPMC Holdings Limited, Ardagh Group S.A, Nampak Ltd., and Ceylon Beverage Can (Pvt) Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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