Market Research Report
Beverage Metal Cans Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Aluminum and Steel) and Application (Carbonated Soft Drinks, Alcoholic Drinks, Fruit and Vegetable Juices, and Others)
|Beverage Metal Cans Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Aluminum and Steel) and Application (Carbonated Soft Drinks, Alcoholic Drinks, Fruit and Vegetable Juices, and Others)|
Published: May 30, 2022
The Insight Partners
Content info: 198 Pages
Delivery time: 1-2 business days
The beverage metal cans market is projected to reach US$ 47,852.42 million by 2028 from US$ 34,363.14 million in 2022; it is expected to grow at a CAGR of 5.7% during 2022-2028.
The growth of the beverage metal cans market is driven by recyclability of metal cans that makes the packaging eco-friendly. According to Metal Packaging Europe, in 2020, 84% of steel packaging and 76% of aluminum beverage cans were recycled in Europe. Furthermore, increased investments by major companies in building recycling facilities and enhancing waste management systems play a critical role in market growth. Rising government measures to minimize carbon footprint and energy consumption have spurred the adoption of metal recycling worldwide. The availability of recycling infrastructure and increased accessibility to the same across the world encourage the utilization of beverage metals cans in the global food & beverages industry.
Based on application, the beverage metal cans market is segmented into carbonated soft drinks, alcoholic drinks, fruit and vegetable juices, and others. The alcoholic drinks segment accounted for the largest share, whereas the market for the carbonated soft drinks segment is expected to grow at the highest rate during the forecast period. Carbonated soft drinks are fizzy nonalcoholic beverages made with clean water, sugar, natural sweeteners or sugar alternatives (in diet drinks), caffeine, artificial flavoring ingredients, fruit juice concentrations, preservatives, and coloring additives. Sprite, Coca-Cola, Mountain Dew, and Monster are a few the most well-known soft drink brands worldwide. The availability of carbonated soft drinks in a wide range of fruit flavors has increased customer demand. The drinks are typically sold in convenience stores, restaurants, casual dining establishments, movie theatres, dedicated soda stores, and vending machines. Further, coatings such as epoxy-amino resin or epoxy-phenolic resin systems restrict corrosion of cans from acidic products, such as carbonated soft drinks. However, almost all food cans are made of steel. However, the unique qualities of aluminum make metal cans ideal for storing carbonated beverages.
By region, the beverage metal cans market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM). In 2020, North America held the largest share of the market. However, Asia Pacific is estimated to register the highest CAGR in the market during the forecast period. The growing popularity of energy drinks, the launch of new products, and the pricing and recyclability of metal cans contribute to the market growth. Many companies are releasing new zero sugar drinks. For example, in 2020, Coca-Cola North America released the zero-sugar soft drink under the FRESCA brand. Government laws and standards are responsible for the region's increasing use of metal cans. The increased consumption of canned beverages in North America is also responsible for the expansion of the beverage metal cans industry.
Ball Corporation; Crown Holdings, Inc.; Ardagh Group S.A.; CANPACK; Orora Packaging Australia Pty Ltd; Amcor plc; Silgan Containers LLC; ZI Industries Limited; SHOWA DENKO K.K.; and Envases Group are among the players operating in the beverage metal cans market. These companies provide a wide range of product portfolio for the market. The companies have their presence in the developing regions, which provides lucrative opportunities for the market growth. The market players are developing high-quality and innovative products to meet the customer's requirements.
The overall beverage metal cans market size has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the beverage metal cans market.
Highlights key business priorities to assist companies realign their business strategies.
Features key findings and crucial progressive industry trends in the global beverage metal cans market, thereby allowing players to develop effective long-term strategies.
Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
Scrutinizes in-depth market trends as well as key market drivers and restraints.
Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.