The Global Beverage Cans market size is forecast to reach USD 32.93 Billion from USD 26.35 Billion in 2019, delivering a CAGR of 2.85% 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.
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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.
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; 2020-2028)
Material Outlook (Revenue: USD Billion; 2020-2028)
Structure Outlook (Revenue: USD Billion; 2020-2028)
Application Outlook (Revenue: USD Billion; 2020-2028)
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; 2020-2028)
Middle East & Africa
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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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