Increased focus on environmental safety and improving the quality of the environment will significantly boost the global drink can market growth
Covid19 Impact and Market Status
The Covid19 pandemic adversely affected the global market economy. Several companies had to eliminate their workflow due to the lockdown which severely affected the global drink can market. The retail and wholesale sources of beverage cans were reduced which in turn led to minimized growth for the global drink can market. The slowdown of the global supply chain diminished the operation and tempted beverage firms to minimize their production.
The portability of drinking cans make will drive the global market expansion
The ability to prevent leakage irrespective of rigorous transportation will increase demand for drinking cans. The ease of carrying large sets of cans with minimal transportation costs will effectively lead to the growth of the global drink can market. Along with being portable and transport-friendly, drink cans also allow proper storage of the canned product to maintain the quality of taste and freshness. The availability of several recyclable and eco-friendly materials for the formation of drink cans will add to the expansion of the global drink can market. The rapidly emerging demand for soft drinks and non-carbonated drinks will contribute majorly to the increased demand for drink cans globally.
Rising demand for non-alcoholic beverages will contribute to the global demand for drink cans
The refreshment provided by non-alcoholic beverages to all age groups will add to the growth of the global drink can market. The maximized focus on healthy diet consumption will contribute to the global drink market growth. The ability to expand the shelf-line of the product without eliminating the quality of the product expands demand for drink cans across the globe.
The majority of the global market will be dominated by North America
The rising use of energy drinks and carbonated products in the region will immensely benefit the regional market growth for drink cans. The addition of nutrients in the beverage drinks will lead to increased sales and expanded revenue generation in the region. Government initiatives to reduce the usage of plastic bottles had pushed beverage firms to increase the adoption of drink cans for storing drinks.
The ability to be transformed to the required shape and size will immensely benefit the global drink can market
Owing to the greater surface area provided, businesses can better sell their products with maximum labels and artwork as required. Drink cans provide better protection against ultraviolet radiation and keep the beverage flavourful and fresh for a longer duration. It is very easy for larger quantities of cans to be transported since they are lighter than bottles and serves a great deal of portability. Beer cans are portable and suited since glass bottles are fragile and have the risk of breaking during transportation. Drink cans are safer and environmentally friendly since aluminium can easily be recycled without any repercussions. Being protected from external temperature changes canned items can uphold better taste and freshness which serves as a major factor contributing to the growth of the global drink can market. The elimination of quality loss of the metal being recycled will immensely drive the drink can market growth. The ability to allow carbonation and prevent the entry of oxygen will immensely benefit the global drink market. The drink cans provide extreme safety against leakage and prevent loss due to breakage. Drink cans are pocket-friendly and are extremely suitable for storing in large quantities boosting the demand for the global drink can market. The ability to inhibit creative designs and brand logos will rapidly expand the need for drink cans in beverage companies. The comparative larger holding capacity along with serving as the source of portable refreshments will boost the global drink can market growth. Government regulations made towards eco-friendly products can be satisfied by the utilization of drink cans due to their extreme reusability and recycling capability. The lifestyle changes and expanded focus towards energy drinks will catalyze the growth of the global drink can market. Furthermore, government initiatives taken towards a clean and green world will Drink can help in the elimination of plastic bottles which can otherwise cause the degradation of the environment. The canning of beverages can prevent fibre loss and help maintain the freshness of the drink. The recent generation has rapidly adopted drinking cans due to the luxurious lifestyle and swag gained. The global drink can market will achieve an estimated market value of USD 75.02 Billion with an expected CAGR of 5.4% by 2032.
Although having several benefits, certain factors might slow down the growth of the global drink can market. Bisphenol A present in plastic materials can be harmful to consumption purposes. The process to retrieve aluminium used in drinking cans, from its raw state is not environment friendly and can cause severe pollution. With the focus being shifted towards health improvement the market for carbonated canned drinks can experience minimal growth in the global market. Higher costs involved in the formation and packaging of canned drinks have led to diminished revenue for the global drink can market.
The primary market holders in the global drink can market are Nampak Bevcan, Swan, Showa Denko K.K, GZ, Interpack Group, Universal Can Corporation, Envases Universales, Ball Corporation, Can-One Barrhead, Tokyo Seikan Group, CMPC Holdings, Crown Holdings. The top market players constantly took the benefit of canned products to market their brands and ideas which widened their consumer base. The widened consumer base will help the businesses to exponentially grow their revenue during the period.
Technological Advancements in the global drink can market
- Tubex Aluminium Packaging was acquired by Ball Corporation in 2020 in order to maximize the sales made by both companies in Brazil.
- A plan was set out by Ball Corporation in 2021 to build a canning plant near Czechia in order to expand the manufacturing capabilities of the business across the region.
- The 2020 Carbon emission award was handed to the Mississippi beverage unit of can manufacturing for maintaining government regulation towards an eco-friendly environment.
Drink Can Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 75.02 Billion|
|Growth Rate||CAGR of 5.4 % during 2022-2032|
|Segment Covered||Product Type, Capacity, Content Type, Organisation, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Nampak Bevcan, Swan, Showa Denko K.K, GZ, Interpack Group, Universal Can Corporation, Envases Universales, Ball Corporation, Can-One Barrhead, Tokyo Seikan Group, CMPC Holdings, Crown Holdings|
Key Segments of the Global Drink Can Market
Product Type Overview, 2021-2030 (USD Billion)
- 3D graphics
- 1-piece cans
- 2-piece cans
- 3-piece cans
Capacity Overview, 2021-2030 (USD Billion)
- greater than 1000 ml
- 701-1000 ml
- 451-700 ml
- 201-450 ml
- up to 200 ml
Content Type Overview, 2018-2028 (USD Billion)
- Non-alcoholic drinks can
- alcoholic drinks can
Organisation Size Overview, 2021-2030 (USD Billion)
- small scale
- large scale
Regional Overview, 2021-2030 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa