The ‘Global Beverage Cans Market Size, Share, Price, Trends, Growth, 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 product, application, and major region.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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)
• Forecast CAGR (2023-2028): 5.30%
Beverage cans store a portion of a beverage in such a way that it can be easily transported. Hence, the increasing demand for beverages, such as carbonated drinks, beer, fruit juices, and energy drinks, among others, is heightening the beverage cans market growth. In addition, beverage cans provide one stop packaging solutions which increases the shelf-life of the product.
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The packaging component of beverage cans enables a user to consume a beverage anywhere and any point of time. Beverage cans can be placed in a refrigerator or can be stored in a warehouse which enhances the supply chain. Beverage can are also a convenient option of those indulging in outdoor activities as the product’s portability keeps the consumers hydrated while experiencing exploration and various other activities.
The increasing demand for aluminium cans, owing to their favourable packaging properties, such as lightweight, high rate of recyclability, excellent stacking capacity, and durability, is further fuelling the global beverage cans market. In addition, aluminium cans are 100% recyclable, which makes them an eco-friendly packaging option. In this regard, the rapid transition towards environment-friendly packaging solutions, infused by rising awareness pertaining to climate change, is escalating the preferability of aluminium cans.
Beverage Cans Industry Definition and Major Segments
A beverage can is defined as a component of food packaging which is made up of a strong metallic body with two closed ends. Generally, a beverage can is manufactured using two pieces by different processes namely, drawing and wall ironing. The can is filled by a carbonated or some other kind of beverage and is sealed from one side.
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Based on product, the market is bifurcated into:
• Steel
• Aluminium
By application, the market is segmented into:
• Alcoholic Beverages
• Carbonated Drinks
• Fruit and Vegetable Juices
• Others
On the basis of region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Beverage Cans Market Trends
The key trends in the global beverage cans market include the growing demand for canned fruit juices and sports drinks, owing to the increasing fitness consciousness and inclination towards sporting activities. Increasing sale of healthy beverages with lower calories with added healthy elements such as amino acids, dextrose, and citric acid, among others, is further heightening the applications of beverage cans.
Beverage cans facilitate effective advertising and branding, as special designing and logo placements on shiny beverage cans encourage impulse buying. Aesthetically appealing designs for potential consumers further bolsters the marketing operations, especially on social media and related platforms which is providing impetus to the market for beverage cans. The burgeoning e-commerce sector is playing a pivotal role in the market by escalating the sale of premium packaged canned beverages with innovative packaging and designs. Over the forecast period, the anticipated increase in demand for beverage products via online food delivery service platforms is likely to aid the market.
In geographical terms, Asia Pacific holds a decent share in the beverage cans market, which is being driven by the thriving beverage sector across strong economies such as India and China. The market is also being fuelled by inflating per capita income, rapid urban development, and growing demand for health drinks.
Key Market Players
The major players in the global beverage cans market report are
• Ball Corporation
• Crown Holdings, Inc.
• GZI Industries Limited
• CPMC Holdings Limited
• Ardagh Group S.A
• Nampak Ltd.
• Ceylon Beverage Can (Pvt) Ltd
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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