Canned Beverages market is projected to register a CAGR of 5.4 % and reach a value of USD 53.28 billion by 2030
Canned Beverages Market is expected to grow at a Significant CAGR During Forecast Period. Canned Beverages are the beverages that are processed and packed in airtight cans. These beverage cans are lightweight and are recyclable. Due to the surging demand for the global consumption of canned beverages, the canned beverages market is expected to propel in the forecast period. Beverages are having various benefits such as fast chilling, provides a superior metal canvas to print on, and also protects the flavor & integrity of beverages.
These canned beverages are having various advantages like eliminates waste saves energy, reduces the use of city landfills, reduces emissions, and provides added revenue for recyclers. These beverages increase the shelf-line without reducing the quality.
Covid-19 Analysis of Canned Beverages Market
The COVID-19 outbreak is not only affected human health but also impacted very hardly various sectors like automobiles, food & beverages, electrical & electronics, aerospace & defense, and many more. The pandemic also highly impacted the food supply chains in most of the regions. Due to the spread of the COVID-19 virus all over the world, many people are affected by this virus, and a few of them cause death and long-term health impacts. So, the governments of various countries imposed severe lockdown regulations to curb the spread of the virus. But these lockdowns are impacting all aspects of the economy.
The governments also developed policies for responding to the impacts caused by COVID-19 by avoiding higher raw materials, supply chain disruptions, severe economic fallout for employees. Due to the number of cases recorded in these emerging economies like Italy, Germany, France, and Spain in Europe and China, Japan, and South Korea in the Asia-Pacific, thus Europe and Asia-Pacific are the major regions impacted by the coronavirus. Different companies on their deep research developed innovative technologies which are eco-friendly and protect the beverages from any type of contamination with germs.
The growing adoption of smaller can size is increasing the new products by the canned beverages market players to diversify their packaging and produce attractive cans in different sizes. Beverage cans are light in weight and are recyclable that makes an ideal choice for the manufacturers to choose the canned beverages in their packaging material. The canned beverages market are used in the packaging of soft drinks, energy drinks, sparkling water, and craft brew beers which are boosting the beverage’s consumption.
Increase in the population of energy and sports drinks. Most Americans are highly consuming these energy drinks instead of sports drinks which may accelerate the growth of the market. With the growing recyclability of aluminum and growing health concerns regarding the use of plastics the
The demand for cans depends on the sale of packaged products at the retail front is increasing the demand for canned beverages and the slow growth towards some other beverage products which is restraining the market growth.
The new lucrative trends and surge in the global consumption of canned beverages are escalating the growth of the market. With the increasing household income, consumers are preferring the product of high quality and better safety, and growing awareness among consumers to maintain a healthy diet across multiple formats which are easy to carry is gaining high demand for the canned beverages market. Moreover, fresh and organic beverage products are having high demand in the non-carbonated segment
Lack of awareness regarding the benefits of canned beverages in developing countries. The cost of raw materials used for the production of aluminum and steel. Replacement of metal with polyethylene terephthalate (PET) bottles is a major challenge for the manufacturers of metal cans. According to the British Plastics Federation (BPF) report, nearly 1.1 million tonnes of plastic packaging are recycled. However, UK is recycling plastic packaging up to 39% every year.
Globally, the canned beverages market has been divided into three segments based on type, distribution channel, and region.
Based on Type
The canned beverages market based on the type is bifurcated into two types as alcoholic beverages and non-alcoholic beverages. Further, the non-alcoholic beverages are divided into carbonated soft drinks, fruit & vegetable juices, and others. Non-alcoholic beverages dominating the significant market share. These are used for the packaging of carbonated soft drinks that contain carbonated water, vapor, sweeteners, color, and preservatives.
When these are packed in glass bottles and sealed with crown cork, there will deteriorate in taste and texture. The major deteriorates changes are loss of carbonation, rancidification of essential flavoring agents. By providing effective packaging of beverage cans, these changes are reduced.
Based on Distribution Channel
The canned beverages market by distribution channel is classified into two types as store-based and non-store-based. The store-based segment is later divided into few types as hypermarkets/supermarkets, convenience stores, and others. Among them, the store-based segment is leading the market share for the display of the products, the festival offers, choosing the products by the senses like fragrances and soaps by smelling, & the perfect size for the products we need, and samples are also available.
Based on Region
Globally, the canned beverages market region-wise is divided into Europe, North America, Asia-Pacific, and the rest of the world. North America is expected to hold the largest market share due to the presence of various prominent market players.
Geographically, the canned beverages market based on regions is classified into Asia-Pacific, North America, Europe, and the rest of the world. Due to the presence of several market players, North America is expected to account for the highest canned beverages market share. Additionally, the surging consumption of canned beer in the US is growing the market in this region.
Asia-Pacific is anticipated to predict the fastest growth rate due to the rising penetration of market players and proliferation of packaging size of canned beverages to target diverse consumer groups. Due to the abundance of raw materials like aluminum, and steel for the beverage cans and due to the huge availability of bauxite and iron ore in this region. Europe is predicted to be the second-largest market share for the rise in consumption of carbonated drinks and usage of beer.
The prominent key players in the canned beverages market outlook are the following:
This global canned beverages market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the canned beverages industry drivers, restraints, challenges, and opportunities. The canned beverages market forecast segments are type, distribution channel, and region.
The canned beverages market trends have been segmented globally based on the type, distribution channel, and region.
Alcoholic beverages and non-alcoholic beverages.
By Distribution Channel
Store-based and non-store-based.
|Market Size||USD 53.28 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, By Distribution Channel, and By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||PepsiCo, The Coca- Cola Company, Keurig Dr Pepper Inc., RED BULL, Del Monte Fresh, J. Gallo Winery, The Boston Beer Company, Precept Wine, The Family Coppola, Left Hand Brewing Co.|
|Key Market Opportunities||Growing adoption of smaller canned size|
|Key Market Drivers||Beverage cans are light in weight and are recyclable|
Major types of canned beverages include alcoholic and nonalcoholic.
Major distribution channels for canned beverages include store-based and non-store-based distribution.
Leading players in the canned beverages market include The Coca-Cola Company, PepsiCo, Red Bull, and Precept Wine, among others.
North America is expected to dominate the global canned beverages market.
The growing demand for beverages with a long shelf life is the major driver for the canned beverages market.