The Global Beverage Cans market size is forecast to reach USD 32.53 billion from USD 25.68 billion in 2019, delivering a CAGR of 2.9% through 2027. The market growth is driven by the increasing popularity of energy & sports drinks, growth in aluminum recyclability prospects, rising health concern regarding the usage of plastic packaging, and beneficial properties of metals like aluminum, such as lightweight and high molding capacity.
Growing
consumer awareness regarding the negative health impact of plastics container
usage is prompting industry players to switch to glass and metal alternatives
for beverage packaging. Several environmental lobby groups and Government
agencies are also pestering manufacturers to significantly reduce plastic
packaging. Carbonated drinks and water are usually bottled in PET bottles.
However, bans on plastic packaging across several countries in the world will
boost the adoption of beverage cans over the coming years.
The
superior properties offered by cans, including temperature maintenance and
protection from the external environment, is fuelling the adoption of beverage
cans. Increasing consumer inclination towards highly portable beverage
packaging is poised to boost beverage cans market growth. Moreover, the
increased consumption of performance enhancement beverages like sports &
energy drinks, rehydration drinks, and caffeine-based drinks is likely to
create major opportunities for industry growth over the forecast period.
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Key
players operating in the global beverage cans market are Ardagh Group S.A., ORG Packaging,
Carolina Beverage Group, Ball Corporation (U.S.), Amcor, Crown Holdings, Inc.,
Silgan Holdings (U.S.), Orora, The Olayan Group, Bangkok Can Manufacturer Co.
Ltd., Nampak Bevcan Limited, and Can-Pack S.A., among others.
For the
purpose of this report, Reports and Data has segmented the Beverage Cans Market
on the basis of size, material, structure, application, and region:
Size
(Revenue, USD Billion; 2017-2027)
- 12Oz
- Others
Material
Outlook (Revenue: USD Billion; 2017-2027)
- Aluminum
- Steel
Structure
Outlook (Revenue: USD Billion; 2017-2027)
- Two-piece cans
- Three-piece cans
Application
Outlook (Revenue: USD Billion; 2017-2027)
- Alcoholic
- Wine
- Beer
- Others
- Non-alcoholic
- Carbonated Soft Drinks
- Fruit Juices and Fruit-Based
Drinks
- Ready-to-drink Coffee and Tea
- Sports & Energy Drinks
- Others (includes CBD)
Regional
Outlook (Revenue: USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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Further
key findings from the report suggest
- In terms of size, the 12 oz
beverage segment held 73.5% of the beverage cans market share in 2019 and
is set to gain major traction over the projected timeframe. The 12 oz
beverage container size is considered standard size and is extensively
used for carbonated drinks, fruit-based juices, and other beverages. The
introduction of special flavored energy drinks and other functional drinks
will bolster product proliferation over the coming years.
- On the basis of material, the
aluminum segment is projected to register a growth rate of 4% through 2027
on account of advantages offered by the product, such as lightweight and
efficiency of shipping and storing the beverage cans. Additionally,
aluminum offers faster-chilling capabilities as compared to other beverage
containers, making it the first choice for packaging beverages.
- Based on application, the alcoholic
beverages segment accounted for 39.8% of the beverage cans market in 2019
and is estimated to garner major revenue gains over the projected
timeframe on account of increased spending on premium alcohols, primarily
by millennials.
- In the regional landscape,
North America is estimated to witness a notable growth rate of 3.9% over
the analysis period. The robust growth can be attributed to the growth of
the soft drink industry in the United States, bolstering the demand for
beverage cans.
- Europe Beverage Cans market is
forecast to gain major traction through 2027 on account of increased
consumption of carbonated drinks and beer in the region.
- The APAC region accounted for
23.2% of the beverage cans market share in 2019 and is likely to grow
significantly over the forecast period due to the abundance of raw
material like aluminum as well as bauxite and iron ore in the region.
Additionally, China has enhanced up its aluminum production capacity over
the past decade. The country produces over 50% of the aluminum produced
globally, which will positively impact the regional industry growth.
Key
insights presented in the report:
·
Market revenue
shares by major business players, by type, application, and market scope of
global Beverage Cans market
·
Sales revenue by
key players and new entrants
·
Competitive
analysis of key players, including company overview, product or services
specification, vendors, and buyers.
·
Recent mergers,
acquisitions, product launches, recent investments, and joint ventures
·
Regional analysis
to provide insight into recent trends and opportunities.
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