The beverage cans market is estimated at USD 23.7 billion in 2021 and is projected to grow at a CAGR of 5.6%, to reach USD 31.2 billion by 2026. Cans are used for the packaging of different types of beverages to maintain the quality and increase the shelf life while maintaining the product’s freshness. Globalization and the free movement of products are increasing. Therefore, packaged material requires longer shelf life, along with monitoring food safety and quality based upon international standards. The recycling properties of raw materials such as aluminium and steel also help in providing sustainable packaging. These factors have helped in the growth of the beverage cans market.
“Aluminium is estimated to account for the largest share in 2021 for beverage cans based on the material type segment”
Aluminium is 100% recyclable and contains 35% of recycled content. The rise in demand for sustainability and awareness regarding the environment have been propelling the demand for aluminium cans as packaging options for beverages. Further, the aluminium body offers different graphic designs to grab greater customer attention. It can be moulded in an infinite number of shapes. It can tolerate temperatures ranging from 40 degrees Celsius to 350 degrees Celsius. Aluminium cans have a better carbon footprint than other packaging materials used in the food & beverage industry. These factors have significantly contributed to the growing use of aluminium cans in the beverage cans market.
“The non-alcoholic beverage category of the beverage type will hold the largest share in the beverage cans market along with growing at one of the fastest rate”
Carbonated soft drinks contain carbonated water, vapour, colour, sweeteners, and preservatives. The rise in the production of carbonated soft drinks has resulted in the dominance of the non-alcoholic beverage segment. Moreover, sports and energy drinks play an important role in an athlete’s life. These drinks contain carbohydrates in the form of sugar, electrolytes, proteins, vitamins, and caffeine. Thus, increase in consumption of these drinks have help the non-alcoholic beverage segment to drive the beverage cans market.
“Europe is expected to hold a significant share in the beverage cans market globally”
Europe is one of the leading regions, notable for the consumption of different types of beverages. The market for cans for beverages is projected to witness robust growth in the European region during the forecast period. Countries such as Spain, France, the UK, and Italy are among the leading producers of beverages. The European beverage cans market is driven by the high consumption of alcoholic beverages such as beer. According to the European Commission, the beverage industry is the largest revenue-generating industry in the region. France, Germany, Italy, the UK, and Spain are the largest beverage producers in terms of turnover. Convenient packaging for beverages is important to attain the consumers’ interest. These factors are fueling the growth of beverage cans market in Europe.
Break-up of Primaries:
- By Company Type: Tier 1 – 43 %, Tier 2 – 41%, and Tier 3 – 16%
- By Designation: C Level – 54% and D Level – 46%
- By Region: Europe – 35%, Asia Pacific– 28%, North America – 22% and RoW* – 15%,
RoW* includes the Middle East, and Africa.
The report segments the beverage cans market on the basis of material type, beverage type, structure, and region. In terms of insights, this report has focused on various levels of analyses?competitive landscape, end-use analysis, and company profiles?which together comprise and discuss views on the emerging & high-growth segments of the beverage cans, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons To buy this report:
- To get a comprehensive overview of the beverage cans market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions in which the beverage cans market is gaining popularity