Rockville, Oct. 18, 2022 (GLOBE NEWSWIRE) — The global beverage can market is expected to grow at a CAGR of 5% over the forecast period 2021-2031, according to the recently released report by Fact.MR. A valuation of US$70 billion is projected for the market. Manufacturers are taking advantage of the growing popularity of aluminum cans to gain increased revenue share.
Historically, from 2016 to 2020, beverage can sales grew at over 4% CAGR, closing at over US$45 billion at the end of said period. Demand has particularly increased since the COVID-19 outbreak, with consumers keen to consume ready-to-drink carbonated, energy and alcoholic beverages in key regions.
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A beverage can is a container specifically designed to carry liquids such as fruit and vegetable juices, soft drinks, beer, flavored beverages, and ready-to-drink coffee and tea. These cans can be constructed of plastic, metal, or aluminum, among other materials.
Manufacturers are focusing on cutting-edge technologies and smart augmented reality packaging innovations. Delivering a wide range of content and stories through a unique AR code printed on aluminum cans has become a mainstream trend in recent years. The industry is constantly adapting and innovating to keep cans colorful, attractive and easy to use by inventing temperature sensitive inks.
Key insights from market research
- By material, aluminum cans will account for 70% of global demand by 2031
- 2 beverage cans selling like hot cakes, accounting for more than 3 out of 5 sales
- Carbonated soft drinks are the most widely traded beverages, accounting for 2/5 of global demand
- The United States is expected to emerge as a promising market, which is expected to grow at a CAGR of 5% through 2031
- Asia will represent substantial growth prospects, producing 60% of total demand, mainly driven by India and China
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Global Beverage Cans Market: Competitive Landscape
Strategic collaborations enable beverage industries to increase their revenue and market share. New products and technologies will enable the growth of beverage cans in the food and beverage industry.
- CANPACK, a leading producer of aluminum cans, analyzes market trends and drivers to produce design solutions for beverage producers that take product branding to the next level. Using CANPACK’s Quadromix technology, the company is able to create four different models in a single production run.
- SNSTECH develops a resealable box designed to reuse the contents again and again. SipNShut, a 100% aluminum resealable beverage can developed by SNSTech, has the added benefit of running easily on existing canning lines and is described as having a smooth pour like a standard beverage can.
- Crown Holdings Inc.
- Ardagh Group
- Aditya Birla Management Corporation Pvt. ltd. (Novelis)
- ball company
- Silgan Holdings Inc.
- Toyo Seikan Group Holdings
- Kian Joo Can Factory
- CPMC Holdings Ltd
Key segments of the beverage can industry research
- By facilities
- By material
- Other (glass and plastic)
- By capacity
- Less than 12 ounces
- Between 12 and 24 ounces
- Over 24 ounces
- By request
- Cans of alcoholic beverages
- Carbonated soft drinks
- Sports and energy drinks
- Other Beverage Cans
- By region:
- North America
- Latin America
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Fact.MR’s, in its new offering, presents an unbiased analysis of the beverage cans market, showcasing historical demand data (2016-2020) and forecast statistics from 2021 to 2031.
The study discloses key market insights based on structure type (two-piece, three-piece), material (steel, aluminum, others), capacity (less than 12 ounces, 12-24 ounces, more than 24 ounces) and application (alcoholic beverages, soft drinks, sports and energy drinks, other beverages), in seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa).
1. Global Beverage Cans Market – Executive Summary
1.1. Global market overview
1.2. Demand Side Trends
1.3. Supply-side trends
2. Global Beverage Cans Market Overview
2.1. Market Coverage / Taxonomy
2.2. Introduction and market definition
3. Assessment of risks and market trends
3.1. Risk assessment
3.1.1. COVID-19 crisis and impact on beverage cans
3.1.2. COVID-19 crisis and impact on beverage can prices
3.1.3. Comparative analysis of the impact of COVID-19 with the previous crisis
Check out other related studies published by Fact.MR Research:
Combination Cans Market – The global combination can market is mainly driven by the growth of the packaging industry during the forecast period. Besides the features associated with combination cans, such as odorless and leak-proof quality, moisture resistance factor, fast refueling without splashing effects, adjustable size of two containers to achieve optimized fuel and chain oil ratio , further accelerating the demand for the combination can market. .
Nested Cans Market – The need for new machines will be obvious as the specifications of the lock boxes will be different. This will likely eliminate some packaging machinery needed for plastic packaging and binding systems. The adaptation of nestable cans will also depend on the acceptance of the idea by consumers. The ease of use and portability of nesting cans will be a key factor.
Aerosol cans market – The global sales of aerosol cans are projected to grow at a CAGR of 3.6% from 2022 to 2032. Presently, the global aerosol cans market is valued at USD 10.3 billion and is expected to reach a size of market of US$14.7 billion by 2032. The demand for one-piece aerosol cans is likely to grow rapidly due to their many advantages; for example, their ability to withstand higher pressure. Plus, these cans are airtight, leakproof, and lightproof; unbreakable; transparent; and heat and corrosion resistant.
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