Beverage Cans Market Research Report - Global  Forecast to 2028

Beverage Cans Market Research Report Information Report by Material (Aluminum and Steel), by Application (Carbonated Soft Drinks, Alcoholic Beverages, Fruit & Vegetable Juices and others) and By Region - Global Forecast To 2028

ID: MRFR/PNT/3742-HCR | 188 Pages | Author: Snehal Singh | June 2023         

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Beverage Cans Market

The global beverage cans market growth is projected to be 3.8% a year for the time period that this report covers. The global beverage cans market value was USD 26.35 billion in 2020. It’s expected to be USD 32.93 billion in 2028.

Segmentation
Material Aluminum Steel
Application Carbonated Soft Drinks Alcoholic Beverages Fruit & Vegetable Juices
Key Players
Companies Profiled   BWAY Corporation (U.S.)   Kian Joo Can Factory Berhad (Malaysia)   Toyo Seikan Group Holdings Ltd. (Japan)   CPMC Holdings Ltd. (China)   Orora Packaging Australia Pty Ltd (Australia)   HUBER Packaging Group GmbH (Germany)   Crown Holdings Incorporated (U.S.)   Ball Corporation (U.S.)   Ardagh Group (Luxembourg)   Silgan Holdings Inc. (U.S.)   Can-Pack SA (Poland)
Drivers
Market Driving Forces   More and more people around the world are buying and consuming energy and sports drinks.
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Beverage Cans Market Overview


The global beverage cans market growth is projected to be 3.8% a year for the time period that this report covers. The global beverage cans market value was USD 26.35 billion in 2020. It’s expected to be USD 32.93 billion in 2028.


Most cans in the global beverage cans market are made out of aluminum. It’s because aluminum is a strong and environmentally friendly metal. Aluminum is also cost-effective. The metal can be recycled easily and still retain its quality and quantity. These are some of the reasons why it’s commonly used in the manufacture of beverage cans.


COVID-19 analysis


COVID-19 is a dangerous and new virus for people who live in the post-modern world. It has the ability to make some people extremely ill and has resulted in more than a few deaths. That’s why almost everyone around the world has been keen to avoid it as much as possible.


Governments around the world tried to limit contact as much as possible by imposing quarantines and lockdowns. These may have been temporary because of their relative ineffectiveness. However, the short and long-term effects that these had on most businesses around the world were far from ineffective. In fact, they, for the most part, were negative. Many businesses around the world were forced to either scale back production or halt operations, at least temporarily. Some businesses were even forced out of business.


The companies in the global beverage cans industry faced the opposite scenario. There was a reason for this. People were staying in more often because of COVID-19 but they still needed to eat. They relied on canned foods and beverages for survival. Hence, demand for beverage cans skyrocketed worldwide. In fact, it’s estimated that COVID-19 actually boosted the beverage cans market growth by as much as 3.1% a year.


Competitive landscape


The global beverage cans market trend is extremely competitive. There are few barriers to entry and the market is lucrative and has a high CAGR. Hence, many companies, especially larger ones, are being enticed into the industry.


Companies are finding that they have to invest heavily in research and development to develop and market innovative new products that will allow them to create the sustainable competitive advantage that they need to remain profitable in the near and long-term future.


These companies are also resorting to mergers and acquisitions and strategic partnerships with other successful companies.


CPMC Holdings is a major Chinese company. It is a success because it invested heavily in research and development. Thus, it was able to remain profitable and develop a sustainable competitive advantage by developing and marketing innovative new products.


List of the Major Companies in the Beverage Cans Market are



Beverage Cans Market Segmentation


Global Beverage Cans Market


Beverage Cans Market Dynamics


Drivers


What’s driving beverage cans market is the fact that many more people are recycling these types of cans. Also, more and more people around the world are buying and consuming energy and sports drinks. Manufacturers prefer to package these in aluminum cans so that they don’t have to worry about exposing consumers to BPA and other dangerous chemicals that plastics tend to contain. These chemicals leak into the beverages from the plastic containers. They can do harm to the reproductive system and vital bodily organs.


Also, aluminum is flexible, lightweight, and easy to mold. These are other factors that are contributing to its growing popularity and overall usage in terms of packaging various beverages and food items.


Opportunities


The technologies that are involved in manufacturing beverage cans are more sophisticated and advanced than they were in the past. It’s been encouraging more and more manufacturers in the global beverage cans industry to get creative in the ways that they design their packaging. The result is safer and more effective packaging. This type of packaging tends to sell more because it’s more popular with the global masses who are increasingly health-conscious.


Restraints


Aluminum is not bio-degradable. Therefore, it’s not completely environmentally friendly. Many environmentalists are emphasizing this point in their push to try to ban the manufacture of aluminum beverage cans. This is a restraint for the global beverage cans industry.


Challenges


The greatest challenge that manufacturers in the global beverage cans industry face lie in trying to develop aluminum cans that can decompose in landfills once discarded. They also have to do this while keeping the price point in a range that is affordable for the global masses.


Cumulative growth analysis


The global beverage cans market growth is projected to be 3.8% a year for the time period that this report covers and also value was USD 26.35 billion in 2020. It’s expected to be USD 32.93 billion in 2028.


Technology analysis


BWAY Corporation is a major American player in the global beverage cans industry. It is an industry leader because it invested heavily in research and development. Thus, it was able to develop and market a new generation of beverage cans that had more attractive packaging, were safer, and had more innovative uses and applications than previous generations did. It was able to remain profitable by creating a sustainable competitive advantage by doing this..


Segment overview


By materials


The materials segment can be separated into the following sub-segments:



The aluminum sub-segment enjoys the greatest beverage cans market share. It also has the fastest growth rate. The reasons for this are that aluminum is lighter than steel. It’s also easier to recycle in comparison to steel. Aluminum is much easier to manufacture than steel. These are some of the many reasons why manufacturers prefer to use aluminum when manufacturing beverage cans.


Recycled aluminum is lighter than non-recycled aluminum. Beverage can manufacturers find that they can reduce the overall weight of beverage cans by up to 30% by using only recycled aluminum in these cans.


By application


The application segment can be separated into the following sub-segments:



The alcoholic drinks sub-segment currently has the greatest beverage cans market share. The reason for this is that many in developed nations want to drink canned beer and alcoholic cider drinks. The same is becoming true in developing nations.


The fruits and vegetable juices sub-sector is expected to have the highest steel beverage cans market growth rate annually for the time period that this report covers. More people around the world are becoming health-conscious. Hence, the demand for canned fruit and vegetable juices is rising dramatically.


Fizzy soft drinks are expected to grow at a respectable CAGR for the time period that this report covers.


Regional analysis


The global beverage cans market can be grouped into the following regions:



  • North America

  • The European Union

  • The Asia-Pacific region

  • The rest of the world


The North American region currently enjoys the highest regional beverage cans market share. The beverage cans rate in this region is high and expected to increase for the time period that this report covers. It’s the high CAGR that will continue to contribute to the extremely high market share in this region.


More and more Americans and Canadians are concerned about the use of sustainable packaging in terms of drinks and food items. This is also expected to drive the beverage cans market growth rate and share for the time period that this report covers.


The United States of America currently accounts for the nation with the highest beverage cans market share in the region. The reason for this is that more Americans eat canned and packaged foods. They also drink canned and packaged drinks.


The European Union also enjoys a high beverage cans market share. The reason is that more nations in this region recycle metal cans. It’s especially true of Germany, the United Kingdom, and France. These nations happen to be Europe’s largest markets in terms of beverage cans. More Europeans are required to recycle. They are prompted to do so by government and think tank agency mandates. One such example is the mandates given by the European Commission.


Most of the beverage manufacturers are located in the European Union. This is another reason for a high beverage cans market share.


The Asia-Pacific region is expected to enjoy a high CAGR in the beverage cans market. India, China, Japan, Australia, and Indonesia in particular have the region’s largest populations. Their masses are increasingly growing wealthy rapidly. Additionally, a large middle class is emerging in all of these regions. The increase in purchasing power and the rise in discretionary/disposable incomes is what’s driving the high beverage cans market growth rate.


These nations have younger populations which will become key markets for the beverage can industry in the near future. China already commands the lions share of the beverage cans market share.


The Rest of the World is also expected to see strong growth in the beverage cans market. The reason is that the masses are becoming wealthier and are consuming more canned alcoholic beverages.


Recent developments



  • Ball partners with CAN’D aid foundation


Report overview


The global beverage cans market growth is projected to be 3.8% a year for the time period that this report covers. The global beverage cans market value was USD 26.35 billion in 2020. It’s expected to be USD 32.93 billion in 2028.The North American region leads in terms of market share and CAGR.



Report Scope:

Report Attribute/Metric Details
  Market Size   2028: USD 32.93 Billion
  CAGR   3.8% CAGR (2021-2028)
  Base Year   2020
  Forecast Period    2021 to 2028
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material, and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BWAY Corporation (U.S.), Kian Joo Can Factory Berhad (Malaysia), Toyo Seikan Group Holdings, Ltd. (Japan), CPMC Holdings Ltd. (China), Orora Packaging Australia Pty Ltd (Australia), HUBER Packaging Group GmbH (Germany), Crown Holdings Incorporated (U.S.), Ball Corporation (U.S.), Ardagh Group (Luxembourg), Silgan Holdings Inc. (U.S.), and Can-Pack SA, (Poland)
  Key Market Opportunities   New product launches and R&D amongst major key players
  Key Market Drivers Advanced technology in packaging Increased recycling activities undertaken by the regulatory bodies Increase in purchasing power


Frequently Asked Questions (FAQ) :

North America, Europe, Asia Pacific, and Rest of the World (RoW) are the key regions burgeoning with the highest share of beverage cans market.

Asia Pacific is going to grow at the highest CAGR in the future.

Materials and applications are the main segments mentioned in the beverage cans market.

The beverage cans market recorded CAGR of 3.8%.

Kian Joo Can Factory Berhad (Malaysia), BWAY Corporation (U.S.), CPMC Holdings Ltd. (China), Toyo Seikan Group Holdings, Ltd. (Japan) are the top key players investing heavily in the beverage cans market.

Key Questions Answered

  • ✅ Global Market Outlook
  • ✅ In-depth analysis of global and regional trends
  • ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
  • ✅ To understand the capability of the major players based on products offered, financials, and strategies.
  • ✅ Identify disrupting products, companies, and trends.
  • ✅ To identify opportunities in the market.
  • ✅ Analyze the key challenges in the market.
  • ✅ Analyze the regional penetration of players, products, and services in the market.
  • ✅ Comparison of major players‚Äô financial performance.
  • ✅ Evaluate strategies adopted by major players.
  • ✅ Recommendations
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