Rockville, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The global beverage cans market is anticipated to expand at a CAGR of 5% across the 2021-2031 forecast period, according to Fact.MR’s recently published report. A valuation of US$ 70 Billion is projected for the market. Manufacturers are capitalizing on the surging popularity of aluminum cans to garner heightened revenue shares.
Historically, from 2016 to 2020, sales of beverage cans expanded at over 4% CAGR, closing in at over US$ 45 Bn by the end of the said period. Demand has especially surged since the outbreak of COVID-19, as consumers inclined towards consumption of ready-to-drink carbonated, energy and alcoholic beverages across key regions.
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A beverage can is a container that is particularly made for carrying liquids such as fruit and vegetable juices, carbonated drinks, beer, flavored drinks, and ready-to-drink coffee and tea. These cans can be constructed of plastic, metal, or aluminum, among other materials.
Manufacturers are focusing on advanced technologies and smart augmented reality packaging innovations. Delivering a wide range of content and stories through a unique AR code printed on aluminum cans is becoming a prevalent trend in recent years. The industry is constantly adapting and innovating changes to keep the cans colorful, attractive, and easy to use by inventing temperature-sensitive inks.
Key Takeaways from the Market Study
- By material, aluminum beverage cans to account for 70% of global demand through 2031
- 2 piece beverage cans to sell like hot cakes, accounting for over 3 out of 5 sales
- Carbonated soft drinks to be most widely marketed beverages, accounting for 2/5th of overall demand
- U.S to emerge as a promising market, expected to grow at a CAGR of 5% until 2031
- Asia to represent substantial growth prospects, yielding 60% of total demand, primarily spurred by India and China
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Global Beverage Cans Market: Competitive Landscape
Strategic collaborations enable beverage industries to increase revenue and market share. New products and technologies will enable the growth of beverage cans in the food & beverage industry.
- CANPACK, a major producer of aluminum cans, analyzes market trends and drivers to produce design solutions for beverage producers that take product branding to the next level. With CANPACK’s Quadromix technology the firm is capable of creating four different designs in a single production run.
- SNSTECH develops a resealable can designed for reusing content over and over again. SipNShut, a 100% aluminum resealable beverage cans be developed by SNSTech, has the added benefit of running on existing canning lines with ease and is described as having a smooth pour like a standard beverage can.
Key Players
- Crown Holdings Inc.
- Ardagh Group
- Aditya Birla Management Corporation Pvt. Ltd. (Novelis)
- Ball Corporation
- Silgan Holdings Inc.
- Toyo Seikan Group Holdings
- Kian Joo Can Factory
- CPMC Holdings Ltd
Key Segments of Beverage Cans Industry Research
- By Structure
- Two-Piece
- Three-Piece
- By Material
- Steel
- Aluminium
- Other (Glass & Plastic)
- By Capacity
- Less than 12 Ounces
- Between 12-24 Ounces
- More than 24 Ounces
- By Application
- Alcoholic Beverage Cans
- Carbonated Soft Drinks
- Sports & Energy Drinks
- Other Beverage Cans
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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More Insights Available
Fact.MR's, in its new offering, presents an unbiased analysis of the beverage cans market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031.
The study divulges essential insights on the market based on structure type (two-piece, three-piece), material (steel, aluminum, others), capacity (less than 12 ounces, 12-24 ounces, more than 24 ounces), and application (alcoholic beverages, carbonated soft drinks, sports & energy drinks, other beverages), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
Table of Content
1. Global Beverage Cans Market - Executive Summary
1.1. Global Market Overview
1.2. Demand Side Trends
1.3. Supply Side Trends
2. Global Beverage Cans Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Introduction and Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Beverage Cans
3.1.2. COVID-19 Crisis and Impact on Beverage Cans Prices
3.1.3. COVID-19 Impact Benchmark with Previous Crisis
Contd…
Check out more related studies published by Fact.MR Research:
Combi Cans Market - The global combi cans market is primarily driven by the growth of the packaging industry in the forecast period. Besides the features associated with combi cans, such as odorless, leak-proof quality, moisture-resistant factor, quick refuel without splash effects, adjustable size of two containers to achieve optimized fuel and chain oil ratio further accelerates the demand for the combi cans market.
Interlocking Cans Market - The need for new machinery will be evident as the specifications of the interlocking cans will be different. It’s likely to eliminate some packaging machinery needed for the plastic wrapping and binding systems. The adaptation of interlocking cans will also be dependent on the acceptance of the idea by consumers. The ease of use and portability of the interlocking cans will be a key factor.
Aerosol Cans Market - Worldwide sales of aerosol cans are projected to increase at a CAGR of 3.6% from 2022 to 2032. At present, the global aerosol cans market is valued at US$ 10.3 billion and is anticipated to reach a market size of US$ 14.7 billion by 2032. Demand for one-piece aerosol cans is likely to grow rapidly owing to their numerous advantages; for instance, their ability to sustain higher pressure. In addition, these cans are air-, leak-, and light-proof; unbreakable; seamless; and resistant to heat & corrosion.
About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That’s why focus on offering insights that can actually make a difference to bottom-lines.
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