The global beverage cans market size is likely to attain over USD 33.2 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 5.1% during the forecast years 2021-2028. 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.
The present and future beverage cans market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the beverage cans market opportunities during the forecast years. Factors such as the the increasing consumption of alcoholic beverages such as beer and cider which are required to cool at a specific temperature for enhanced taste. Besides growing consumption of alcohol-based flavored drinks in North America, Europe, and Latin America as a low-alcohol alternative is also the key factor 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 is likely to provide lucrative development opportunities for the beverage cans market in the forthcoming years.
The report also emphasizes several distinctiveness of the global beverage cans industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the beverage cans industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The beverage cans market has tough competition among the new emerging and pre-established market vendors. Besides, the beverage cans industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of the Material, the market is categorized into Aluminum and Steel. The Steel segment is predicted to achieve the largest growth during the forecast years 2021-2028. On the other hand, the Aluminum segment seized the maximum market share in 2020 and it is likely to maintain its place 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.
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 emergence as the major supplier of processed aluminum and steel sheets for the rest of the world. However, the North Amercia is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the 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.
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 software solutions. In addition, 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.
Segment Overview of Global Beverage Cans Market
Material Overview, 2019-2028 (USD Million)
Application Overview, 2019-2028 (USD Million)
- Carbonated Soft Drinks
- Fruit and Vegetable Juices
- Alcohol Beverages
Structure Overview, 2019-2028 (USD Million)
Regional Overview, 2019-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America