Beverage Cans Market
Beverage Cans Market Share & Trends Analysis, By Structure (Two Piece Beverage Cans, Three Piece Beverage Cans), By Material (Steel Beverage Cans, Aluminium Beverage Cans, Others), By Capacity (Beverage Cans less than 12 Ounces, Others), By Application & By Region Forecast, 2021-2031
Beverage Cans Market Outlook
The beverage cans market reveals that sales were valued at above US$ 45 Bn in 2020. The forecast estimates that beverage cans revenues will expand 1.5x until 2031, reaching US$ 70 Bn. Increasing need for recycled, lightweight and easy to carry beverage cans along with emphasis on sustainability are some factors expected to drive market expansion at a CAGR of nearly 5% through 2031.
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Key Points Covered in Beverage Cans Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- Assessment by Product Grade / Purity / Formulation Standards
- Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
- Certifications and Compliance Requirements
- COVID-19 Impact on the Beverage Cans Sales and How to Navigate
- Recommendation on Key Winning Strategies
Revenue Analysis for Beverage Cans 2016-2020 vs Future Demand Outlook 2021-2031
From 2016 to 2020, demand for beverage cans expanded at a CAGR of over 4% to be valued at above US$ 45 Bn. As the market expands, emerging technologies to develop re-closable beverage cans to improve product performance, along with increased consumer demand for plastic-free containers, are likely to play a crucial role in the global market.
The growing demand for recycling and organic products has pushed can production in multiple regions, which is helping to reduce the impact of plastic on the environment. As beverage packaging uses aluminum cans with sustainable solutions, the market is experiencing increased demand for aluminum cans.
According to Fact.MR, a market research and competitive intelligence provider, the global market for beverage cans will expand at a CAGR of nearly 5% over the forthcoming decade. Approximately US$ 70 Bn is estimated for the market in 2031.
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How has COVID-19 Heightened Demand for Beverage Cans?
Due to the COVID-19 pandemic's restrictions on pubs, bars, restaurants, and major events, beverage can sales have skyrocketed, with the majority of global consumers buying multipacks of cans to consume at home.
As a result of the COVID-19 outbreak, aluminum beverage can manufacturers saw unprecedented demand for their environmentally friendly containers. Furthermore, sales of healthy ready-to-drink beverages are especially gaining traction, prompting manufacturers to invest in high-grade metallic and plastic cans.
Why are Aluminum Cans and Other Innovative Technologies Gaining Prominence?
In the beverage industry, the growth of beverage cans was primarily sparked by increasing concerns about the use of plastic containers. These plastic containers are being replaced with aluminum cans to reduce environmental impact. Weighing just 35 pounds, the containers are easily transported, stored, and carried.
In an increasingly competitive food & beverage market, metal packaging coating manufacturers are reaping substantial growth. Thermochromic, photochromic, glow-in-the-dark, and reveal technologies are among the innovations manufacturing companies are incorporating into solvent inks to attract additional customers.
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What is the Demand Outlook for Beverage Cans in the U.S.?
North America is the region with the largest consumption of carbonated beverages and other types of 380 beverages in aluminum cans every year, therefore, it is likely to have a significant impact on the need for aluminum cans.
Additionally, aggressive marketing campaigns by beverage manufacturers are expected to positively influence the growth of the beverage can market. It is expected that the U.S market will surge at around 5% CAGR until 2031.
Using 100% recycled aluminum cans in the U.S. would conserve 4.1 million homes' worth of energy for a whole year. Aluminum cans recycling has declined in recent years, which highlights the critical need for increased recycling.
What Prospects Abound in the Asian Market?
The Asian region represents a highly opportunistic market for beverage can manufacturers and suppliers. Rising consumption of processed beverages is stimulating demand. Furthermore, the increasing consumption of carbonated drinks is bolstering growth.
Increasing demand for single-serve small metal cans is driving consumers away from large plastic or PET containers and toward single-serve packs. This reflects the general emerging trend towards on the go consumption across the region.
In Asia, functional beverages are experiencing strong growth, as there are various new and innovative varieties available. The region is likely to stimulate around 60% of global demand until 2031.
Why are Aluminum Beverage Cans Surging in Popularity?
Rising environmental concerns are prompting beverage giants to adopt aluminum cans instead of plastic bottles and other packaging substrates. Aluminum cans have been a great choice for beer brands for many years.They have the highest recycling rate among all beverage packaging materials.
Aluminum cans have experienced a significant increase amid rising concerns regarding plastic contamination due to the use of plastic shrink sleeves, labels, and other products. As per Fact.MR, aluminum beverage cans demand is slated to surpass nearly 70% of global demand, expanding at over 5% CAGR.
The major players in the market focus on expanding their customer base.
- XOLUTION, Munich offers new lockable locks for beverage cans. This system meets the shelf-life requirements of the beverage industry. When ensuring the freshness of the product, brands, retailers, and consumers understand that the beverage cans are in their original, unaltered delivery conditions and have not previously been opened.
- Likewise, CrownSmart announced a new packaging innovation. Using the AR codes incorporated into the package, brand owners from North America to Europe can create customized smart packaging that delivers a vast range of content and experiences.
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Market Segments Covered
|Key Market Segments Covered||
Key Companies Profiled
Available upon Request
Key Segments Covered
- Two Piece Beverage Cans
- Three Piece Beverage Cans
- Steel Beverage Cans
- Aluminium Beverage Cans
- Other (Glass and Plastic) Beverage Cans
- Beverage Cans less than 12 Ounces
- Beverage Cans between 12-24 Ounces
- Beverage Cans more than 24 Ounces
- Alcoholic Beverage Cans
- Carbonated Soft Drink Beverage Cans
- Sports & Energy Drinks Beverage Cans
- Other Beverage Cans
- FAQs -
According to Fact.MR, sales of beverage cans surpassed US$ 45 Bn as of 2020
From 2016 to 2020, beverage cans demand accelerated at over 4% CAGR
Fact.MR expects the global market for beverage cans to be valued at US$ 70 Bn in 2031, expanding at above 5% CAGR
Crown Holdings, Ball Corporation, Can-Packs and Ardagh Groups are some prominent beverage can manufacturers.
Changes in lifestyles, technological advancements, and using various sizes of cans to store potable beverages on the go are prompting companies to change their strategies in manufacturing beverage cans.
Asia is expected to emerge as a highly opportunistic market, expected to account for 60% of global demand
A CAGR of 5% has been projected for the aluminum cans market across the U.S
Carbonated soft drinks beverage cans are expected to account for over 2 out of 5 sales
The aluminum cans market will grow at a CAGR of 5% in the coming years.
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