Global Beverage Cans Market Overview: 2020-2027

Posted by rony on April 21st, 2021

Global Beverage Cans Market is anticipated to reach US$XX billion by 2027 from US$XX in 2019, recording the CAGR of XX% during the forecast period.

 

Beverage cans are containers, typically made from aluminum alloyed with magnesium & manganese, a special grade of low carbon steel, or plastic. The product is used to store liquid drinks such as carbonated soft drinks, alcoholic beverages, and fruit & vegetable juices. Beverage cans are widely preferred for the packaging of a variety of drinks for at home as well as on-the-go consumption. The beverage cans market has emerged as one of the most competitive markets with most of the major players offering similar products.

The study includes a detailed market assessment. It does so by in-depth qualitative perspectives, historical evidence, and market size verifiable predictions. Using validated research methodologies and assumptions, the predictions featured in the study have been derived. The research report thus serves as an analysis and information for all aspects of the market, including, regional markets, technologies, by applications.

Global Beverage Cans Market Drivers:

Increasing consumption of carbonated drinks and demand for packaged juices

Beverage cans market growth is primarily driven by the increased consumption of carbonated soft drinks as well as for performance enhancement beverages like energy & sports drinks. Moreover, rising inclination of the consumers towards a healthy lifestyle is leading to the increased demand for fruit & vegetable juices, thus, aiding the market growth. Additionally, the rise in consumption of alcoholic beverages, such as beer & cider and the extensive promotional activities organized by the leading beverage manufacturers like Coca-Cola and PepsiCo are propelling the beverage cans market growth.

Global Beverage Cans Market Restraints:

Growing environmental and health concerns

Growing health concerns associated with the consumption of carbonated as well as alcoholic drinks and high prices of aluminum are the key factors hindering the market growth. Moreover, growing environmental concerns and pressure from environmental lobby groups and Government agencies to reduce the use of plastic is expected to limit the market growth during the forecast period.

Global Beverage Cans Market Segment Analysis

Aluminum segment generated the highest share of US$ XX Mn in 2019.

On the basis of material, the global beverage cans market is segmented into aluminum, steel, and plastic. The Aluminum segment generated the highest market share in 2019 and is anticipated to grow continuously during the forecast period. Globally, over 70% of the beverage cans are made with aluminum owing to its properties like the ease of manufacturing & transport, economical, and lightweight. Steel beverage cans appeared to show below-average growth due to their chances of reacting with a beverage in the can and heavyweight.

Based on application, the market is fragmented into carbonated soft drinks, alcoholic beverages, and fruit & vegetable juices. The carbonated soft drinks segment generated the highest revenue owing to a high per capita consumption of carbonated beverages. The fruits & vegetable juices segment is anticipated to show significant growth owing to the inclined mindset of consumers towards healthy drinks.

Global Beverage Cans Market

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Global Beverage Cans Market Regional Insights:

Global Beverage Cans Market 1

North America is expected to account for the largest market share of xx% during the forecast period.

Based on geography, the global beverage cans market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America produced the largest market share in terms of revenue in 2019 and is projected to hold its supremacy over the forecast period 2020-2027. The U.S. market dominated the North American industry and the growth is subjected to the increasing number of carbonated soft drink consumers and growing demand for beer in cans and aerated soft drinks.

Asia-Pacific region is set to grow with the highest CAGR of XX% during the forecast period owing to the changing lifestyle of the population leading to increased consumption of beverages. The ease of availability for raw materials like aluminum and steel is further supporting the market growth in the Asia-Pacific region.

Scope of Global Beverage Cans Market: Inquire before buying

Global Beverage Cans market, by Material

• Aluminum

• Steel

• Plastic

Global Beverage Cans market, by Application

• Carbonated Soft Drinks

• Alcoholic Beverages

• Fruit & Vegetable Juices

Global Beverage Cans market, by Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

Global Beverage Cans market Major Players

• Ardagh Group

• Ball Corporation

• Nampak Bevcan Limited

• Crown Holdings Inc.

• Amcor

• Orora Ltd.

• Silgan Holdings Inc.

• ORG Packaging

• Toyo Seikan Group Holdings

• Bangkok Can Manufacturer Co. Ltd.

• CPMC Holdings Ltd.

• Carolina Beverage Group

• Kian Joo Can Factory

• HUBER Packaging Group GmbH

• Can-Pack SA

• Showa Denko K.K.

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