The global Beverage Cans market is expected to develop USD 34.09 billion by 2029, at a compound annual increase in price (CAGR) of 4.65% throughout the forecast period.
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"The Global Beverage Cans Market 2019-2029 (USD Million)")
The beverage cans are isolation of natural products from the plants. Plant extraction is separation of liquid or solid from plants by using extraction method. These beverage cans are used for various applications which include food industry, pharmaceuticals and cosmetic industry among others. Besides, China had become world's most significant source for beverage cans. As per Chinese customs statistics in 2010, China's beverage cans of exports had amounted to $815 million, accounting for 41.9% of China's total export of Chinese medicine, the extract of Chinese products had become the huge fueling factor in raising the China's export rate. Presently, there are around more than 2000 enterprises focusing in trade business and plant extraction with thousands of products being exported to foreign countries per year.
The global beverage cans market size is predicted to reach over USD 33.2 billion by 2028. This can be ascribed to the increasing consumption of alcoholic beverages such as beer and cider which are required to cool at a specific temperature for enhanced taste. The demand for highly portable beverage packaging coupled with superior properties of the cans including protection from the external environment is expected to emerge as the primary driver for the market growth. Besides, growing consumption of alcohol-based flavored drinks in North America, Europe, and Latin America as a low-alcohol alternative is also the key factors driving the market growth for beverage cans.
However, inadequate supply of raw materials and price fluctuation are hampering the market growth. Furthermore, growing demand for rehydration drinks and caffeine-based drinks are likely to provide lucrative development opportunities for the beverage cans market in the forthcoming years.
Beverage Cans Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2029 |
| Study Period | 2018-2029 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | USD 34.09 billion |
| Growth Rate | CAGR of 4.65% during 2019-2029 |
| Segment Covered | Product Type, End- User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | BALL CORPORATION, Crown, Tetra Laval International S.A., Orora Packaging Australia Pty Ltd, Silgan Holdings Inc., Ardagh Group S.A., Mahmood Saeed Beverage Cans & Ends Industry Company Limited (MSCANCO), CPMC Holdings Limited, CANPACK, The Olayan Group., Bangkok Post Public Company Limited, Nampak Ltd., Kian Joo Can Factory Berhad, SHOWA DENKO K.K., SWAN |
Key Segments of the Global Beverage Cans Market
Material Overview, (USD Billion)
- Aluminum
- Steel
Application Overview, (USD Billion)
- Carbonated Soft Drinks
- Fruit and Vegetable Juices
- Alcohol Beverages
- Others
Structure Overview, (USD Billion)
- Two-piece
- Three-piece
Regional Overview, (USD Billion)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global beverage cans market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global beverage cans market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the beverage cans industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Material, Application, and Structure. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global beverage cans market. The report will benefit Every stakeholder involved in the beverage cans market.
- Managers within the beverage cans industry looking to publish recent and forecasted statistics about the global beverage cans market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global beverage cans market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The market value of beverage cans market in 2029 was USD 34.09 billion.
The base year for the report is 2023 in beverage cans market.
The beverage cans market is growing at a CAGR of 4.65 % during the forecast period.
Over the past few decades, many companies have been opening factories for aluminum can recycling and an immense promptitude has been witnessed from the end-users of beverage cans for the recycling process. Many companies offer a little remuneration for the common individuals who provide them with the cans and a wide number of people take part in this process of recycling cans for money. Beer and lemonade water are the two most used beverage types that use the cans.
Moreover, growing health concerns associated with the use of plastics containers is also a key factor influencing market growth. Many beverages are packaged in plastic containers in the U.S. However, pressure from environmental lobby groups and Government agencies is being felt by many can manufacturers, who are being bounded to reduce the consumption of plastics. Water and carbonated drinks are usually bottled in Polyethylene Terephthalate (PET) bottles. As bans on plastic packaging gains momentum across the U.S., manufacturers, and sellers are turning towards other available options. Furthermore, the pharmaceutical companies are using plants extracts to develop new drugs. Moreover, these extracts have less or no adverse effects on the human body, which makes them one of the best components to develop drugs. It is therefore the pharmaceutical industries are incorporating beverage cans in their medicines, which consequently is boosting the growth of global plant extract market.
Furthermore, the increased intake of energy and sports drinks in confluence with the mounting efforts by manufacturers to finance advertising campaigns for these drinks are strengthening the growth of the beverage industry which is thereby expected to boost the sales in the region.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Material Segment
Based on the Material segment, the market is bifurcated into Aluminum and Steel. In 2020, the Aluminum segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years. This growth is due to the superior properties such as lightweight and growing aluminum recycling primarily in Europe and North America. In addition, increasing demand for aluminum cans for use in packaging alcoholic beverages such as beer is expected to drive the market growth over the forecast period. However, the Steel segment is projected to attain major growth throughout the forecast years owing to use of the product for fruit & vegetable juices, sports drinks, and carbonated soft drinks. However, increasing substitution of steel cans by the lightweight aluminum cans is expected to drive the market growth over the forecast period.
Application Segment
Based on the Application, the market is segmented into Carbonated Soft Drinks (CSD), Fruit and Vegetable Juices, Alcohol Beverages and Others. The Alcoholic beverage segment gathered the major market share in 2020 and it is likely to continue its dominance throughout the forecast years. This growth can be attributed to the high demand for alcoholic beverages during various sports events such as Barclays Premier League and basketball leagues. The fruit & vegetable juices segment is expected to account for a relatively small share in the forecast period. Growing number of juice manufacturers in the market are expected to have a positive impact on the overall beverage cans industry. However, the impact is not expected to be significant owing to the limited penetration of metal packaging.
Structure Segment
Based on the Structure, the market is segmented into Two-piece and Three-piece. The Two-piece segment gathered the major market share in 2020 and it is likely to continue its dominance throughout the forecast years. This structure is widely used for fruit-based juices, carbonated drinks, and other beverages. As the two-piece structure is small and easy to carry, they are a preferred choice over the more substantially-sized beverage cans.
North America accounted for a maximum share of the global market owing to high consumption of metal cans in the U.S. Growing concerns regarding the use and consumption of sustainable packaging materials is expected to drive the industry demand in this region. In addition, rising demand for the product in the production of health and sports drinks such as Monster, Red Bull, and Gatorade is expected to propel growth. However, the Asia Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the beverage cans market in this region is mostly ascribed to the emergence as the major supplier of processed aluminum and steel sheets for the rest of the world. The region is characterized by an abundance of raw materials such as aluminum and steel for the beverage cans owing to the high availability of bauxite and iron ore in the region.
.png "North American Beverage Cans Market 2019-2028 (USD Million)")
The major players of the global beverage cans market are BALL CORPORATION, Crown, Tetra Laval International S.A., Orora Packaging Australia Pty Ltd, Silgan Holdings Inc., Ardagh Group S.A., Mahmood Saeed Beverage Cans & Ends Industry Company Limited (MSCANCO), CPMC Holdings Limited, CANPACK, The Olayan Group., Bangkok Post Public Company Limited, Nampak Ltd., Kian Joo Can Factory Berhad, SHOWA DENKO K.K., SWAN Industries Company Limited. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. Renowned companies are offering new and modern beverage cans. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.