Beverage Cans Market Future Prospects and Forecast To 2028

The beverage cans market size was valued at USD 24,700.0 million in 2021 and is poised to grow at a significant CAGR of 5.4% during the forecast period 2022–2028.  The primary driver of the expansion of the global beverage cans market includes significant improvements in the production of cans increasing usage of alcoholic beverages, sports/energy drinks, carbonated soft drinks, and other ready-to-drink beverages.

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The global beverage cans market is segmentation.

1) By Material: Aluminum and Steel.

2) Application: Carbonated Soft Drinks, Alcoholic Beverages, Fruit and Vegetable Juices and Others.

Aluminum Segment to Dominate the Beverage Cans Market
Aluminum segment is expected to account for a larger revenue share in the global beverage cans market, with a value share worldwide. One of the beverage containers with the highest rates of recycling is the aluminium can. Aluminum cans are favoured not only for their high recycling rate but also because recycling them consumes about 90% less energy and results in a correspondingly smaller amount of greenhouse gas production. Aluminum cans give beverage producers the opportunity to display innovation, which is utilised to draw customers, particularly millennials.

Asia Pacific Beverage Cans Market

The Asia Pacific market is expected to increase in the global beverage cans market over the forecast period. It is projected to grow at a CAGR of 6.2% in the coming years.  The Asia Pacific market is expanding as a result of the region's fast-paced lifestyle and growing demand for tinned and portable foods. Global firms including Ball Corporation (US) and Crown Holdings Inc. (US) are expanding their production operations in the Asia Pacific to access the market. As a result, the market for beverages in cans grew. North America held considerable market share during estimated period owing to presence of food and beverage producers and online retailers. The demand for nutritional and energy drinks among consumers is rising as a result of changing lifestyles and rising consumer awareness of the intake of nutrient-dense meals. Additional government rules on the use of recyclable and environmentally friendly beverage packaging are anticipated to fuel market expansion in the area.

 




The global beverage cans market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Jan 2021, In Kentucky, Crown Holdings Inc. constructed a new beverage can. The new plant helps meet North America's rising demand for beverage cans, which includes a rise in demand for sparkling water, energy drinks, craft beer, and cocktails, among other beverages.

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Key players in the beverage cans market report are Ball Corporation, Crown Holdings Inc., Ardagh Group, Canpack S.A, CPMC Holding Ltd., Amcor Limited, Kian Joo Can Factory, Showa Denko KK, Nampak Bevcan Limited and Toyo Seikan Group.

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