Global Beverage Cans Market Size By Distribution Channel, By End-User, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Beverage Cans Market Size By Distribution Channel, By End-User, By Geographic Scope And Forecast
Beverage Cans Market Size and Forecast
Beverage Cans Market size was valued at USD 25.3 Billion in 2023 and is projected to reach USD 36.5 Billion to USD by 2030, growing at a CAGR of 5.8% during the forecasted period 2024 to 2030.
Global Beverage Cans Market Drivers
Growing Beverage ConsumptionThe demand for beverage cans is fueled by the general rise in beverage consumption worldwide, which includes soft drinks, beer, energy drinks, and ready-to-drink (RTD) beverages.
Convenience Preference of the ConsumerBecause beverage cans are lightweight, portable, and simple to open, they are preferred by customers. The desire for canned beverages, particularly for drinking while on the go, is driven by this convenience feature.
Increase in Alcoholic Beverage ConsumptionAs more people drink beer and pre-made cocktails, there is a greater need for beverage cans, which are the favored packaging option for these items.
Transition to Sustainable PackagingCans of beverages are regarded as eco-friendly because they are recyclable and leave fewer environmental traces than certain other types of packaging. The widespread emphasis on recycling and sustainability encourages the use of beverage cans.
Advancements in Can DesignsThe aesthetic appeal of beverage cans is improved by continuous advancements in can design, which include adjustments to sizes, forms, and printing techniques. Attractive branding and designs support market expansion and consumer involvement.
Benefits of Shelf Life ExtensionBy acting as a shield against light and air, beverage cans help packaged beverages keep their shelf lives longer. This feature is especially helpful for products that are susceptible to outside influences.
Growing Consumer Interest in Ready-to-Drink (RTD) BeveragesThe demand for convenient and portable packaging solutions, such as beverage cans, is driven by the growing popularity of ready-to-drink beverages, such as coffee, energy drinks, and iced tea.
Emphasis on Lightweight PackagingManufacturers looking to cut expenses associated with transportation and packaging weight sometimes choose beverage cans since they are lighter than certain other materials.
Growing Craft Beverage SectorThe need for smaller-sized beverage cans has expanded as a result of the expansion of the craft soda and beer sectors. Cans are a popular choice among craft beverage manufacturers due to their convenience and branding potential.
E-commerce and Single-Serve PackagingAs e-commerce has grown, so too have the formats for single-serve packaging. Cans of beverages make sense for single use, complementing the expanding trend of home delivery and internet shopping.
Global Beverage Cans Market Restraints
Environmental IssuesThe production of beverage cans involves the use of steel and aluminium, which exacerbates environmental problems and raises questions about recycling and sustainability.
Volatility of Raw Material PricesPrice swings for steel and aluminium have an effect on production costs and could have an impact on beverage can manufacturers’ profitability.
Alternative Packaging’s CompetitionAlternative packaging materials, like PET bottles, are a competitive threat to the beverage industry and could reduce the market share of cans.
Transport Weight and ExpensesDespite being lightweight, the sheer number of cans might raise concerns about transportation expenses. The total cost of production is impacted by growing fuel prices and transportation costs.
Minimal Design InnovationBeverage cans’ conventional cylindrical shape discourages design innovation, and consumers’ desire for distinctive, environmentally friendly packaging may present difficulties.
Strict RulesThe market for beverage cans may be restricted by laws pertaining to packaging materials, recycling goals, and environmental effects.
Uncertainties in the global economyUncertainties and fluctuations in the economy can have an impact on consumer spending habits, which could have an effect on the demand for beverages and, by extension, beverage cans.
Safety and Health IssuesConsumer preferences may change as a result of growing awareness of the possible health risks connected to specific materials used in can linings or coatings.
Supply Chain InterruptionsDrink can availability and prices may be affected by supply chain disruptions such as shortages of raw materials or production halts.
Global Beverage Cans Market Segmentation Analysis
The Global Bridal Shop Management Software Market is Segmented on the basis of Distribution Channel, End-User, Size and Geography.
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Bridal Shop Management Software Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The key players in the Beverage Cans Market are
Interpack Group Inc. (China)
GZ Industries (Nigeria)
Showa Denko K.K (Japan)
Swan Industries (Thailand) Limited (Thailand)
Nampak Bevcan Limited (South Africa
Metal Container Corporation
Canpack
Rexam PLCCrown Holdings, Inc
Crown Holdings, Inc
Ball Corporation
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Interpack Group Inc. (China), GZ Industries (Nigeria), Showa Denko K.K (Japan), Swan Industries (Thailand) Limited (Thailand), Nampak Bevcan Limited (South Africa, Metal Container Corporation, Canpack,Rexam PLCCrown Holdings, Inc, Crown Holdings, Inc,Ball Corporation
SEGMENTS COVERED
By End-User
By Size
By Geography
CUSTOMIZATION SCOPE
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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Size & Forecast
Beverage Cans Market was valued at USD 25.3 billion in 2023 and is projected to reach USD 36.5 billion to USD by 2030, growing at a CAGR of 5.8% during the forecasted period 2024 to 2030
Strong growth in the beverage cans market is driven by rising global beverage consumption and growing demand for lightweight, recyclable, and convenient packaging.
The major players in the global Beverage Cans Market are Interpack Group Inc. (China), GZ Industries (Nigeria), Showa Denko K.K (Japan), Swan Industries (Thailand) Limited (Thailand), Nampak Bevcan Limited (South Africa, Metal Container Corporation, Canpack,Rexam PLCCrown Holdings, Inc, Crown Holdings, Inc,Ball Corporation
The Global Beverage Cans Market is segmented on the basis of Distribution Channel, End-User, Size and Geography
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