Beverage Cans Market is segmented by Material Type (Aluminium, Steel, and PET), Beverage Type (Alcoholic Beverages, Non-Alcoholic Beverages, and Water), Structure (2-Piece and 3-Piece), & Region (NA, APAC, EUR, SA, and RoW).
The Beverage Cans Market is projected at USD 23.7 billion in 2021 and is expected to reach a market growth of 5.6% CAGR attaining a market size value of USD 31.16 billion by 2028.
The drivers of growth of this market are, the increasing demand for products that are sustainable, environmental concerns and awareness as well as the high demand for beverage packaging that is easy and convenient. Another growth driver is the increasing popularity of energy and sports drink. Globally, consumption of these beverages are promoted by several major key players claiming that these products increases one’s energy and enhance mental alertness as well as physical performance. Energy drinks are highly demanding because they are considered to be a popular dietary supplement next to multivitamins. The spike in sales of these beverages can be attributed to factors such as, incorporating healthier options such as using organic ingredients and innovations with regard to improving the quality of the energy and sports drink.
One restraint hindering the growth of this market is the issue on awareness about the benefits of metal packaging. Moreover, the higher cost of raw materials used in the production and manufacturing like steel and aluminum sets back consumers from purchasing these products because it costs more than the bottles ones.there are other sustainable and environment friendly packaging materials like paper, glass, and plastic which are more inexpensive and efficient.
Impact of COVID-19 in the Beverage Cans Market
A lot of industries adapted to and adopted the changes that are imposed upon them by their governments. A major set back on the growth of the beverage cans market is the disruption of supply chain since manufacturing and distribution of key players or companies are being limited, if not, controlled by governments by imposing lock downs and halting travels across borders.
The market is facing a challenge of disruption in raw material supplies because it is negatively affecting manufacturers since travel, transport of raw materials, facility operations, and non-essential trade has been put off in many countries. This in turn affected production, causing fewer volume of product sales. Export and import sales are affected as well since border restrictions and flights are banned.
Positively, COVID-19 has also categorically improved the growth of this market. Since lock downs and safety health protocols have been imposed by authorities, consumers who are staying in the comfort of their homes tend to prefer products that have convenient packaging and are environmental friendly. The impact of the viral infection made the population lean towards a more hygienic way of consuming their goods. Beverage cans are designed to be easily disposed after consuming its contents, thus, no contamination of germs can be had since consumers can easily do away with the can once done.
Key Findings in the Market
In terms of material type segment, the aluminum segment is projected to have the largest share in the market in 2021. This is mainly attributed to factors such as, ductility of aluminum, preference of aluminum over other raw materials used in packaging beverage because of its impermeability as well as better flexibility. In addition, aluminum is cost-effective and can easily be customizable with respect to packaging design, colors, 3D prints and embossing. Thus, making aluminum dominate the market.
In terms of beverage type, the non-alcoholic beverage segment is projected to grow fastest at the highest CAGR. Non-alcoholic beverage are popularly associated with carbonated soft drinks that contains carbonated water, vapor, color, sweeteners, and preservatives.
In terms of structure, the 2-piece can segment is expected to grow at the fastest CAGR during the forecast period of 2021-2028. this segment has three main types, these are, draw (shallow draw), draw & redraw (DRD) and draw & iron (D&I).
Regional Market Analysis
Asia Pacific in terms of region segment dominates the beverage cans market. Growth of this market is projected to be prevalent in regions like China, India, Japan, Thailand, Indonesia, Australia, and New Zealand. The factors driving the growth of this market are, increasing population, consumers packaging preference, high demand for the beverage industry, emerging of newly developed manufacturing plants, improving industrial growth and urbanization, environmental awareness, higher disposable incomes, and decrease in the production of fresh food and beverage products.
Key Players: Share and Competition
The major key players in this market who have a strong product portfolio and an extensive assessment of the market landscape are, Crown Holdings Inc. (Philadelphia, US), Ardagh Group S.A, (Luxemburg), CPMC Holdings Limited (China), Toyo Seikan Group Holdings Ltd. (Tokyo, Japan), Can-One Berhad (Malaysia), Can-Pack S.A (Poland), Ball Corporation (Colorado, US), Envases Universales (Spain), Universal Can Corporation (Tokyo, Japan), Interpack Group Inc. (China), GZ Industries (Nigeria), Showa Denko K.K (Tokyo, Japan), Swan Industries (Thailand) Limited (Thailand), Nampak Bevcan Limited (South Africa), The Olayan Group (Saudi Arabia), and Techpack Solutions Pvt Limited (Seoul, South Korea).
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Material Type Analysis (Revenue, USD Million, 2021 - 2028)
Beverage Type Analysis (Revenue, USD Million, 2021 - 2028)
• Alcoholic Beverages
• Non- Alcoholic Beverages
Structure Analysis (Revenue, USD Million, 2021 - 2028)
• 2-Piece Cans
• 3- Piece Cans
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Beverage Cans Industry Research Report
• Europe Beverage Cans Industry Research Report
• Asia Pacific Beverage Cans Industry Research Report
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