USD 39.20 billion
Beverage Cans Market Size, Share, Growth Analysis, By Material(Aluminum, Steel), By Application(Carbonated Soft Drinks, Alcoholic Beverages, Fruits & Vegetable Juices, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30D2012 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
63
|Figures:
70
Beverage Cans Market Insights
Global Beverage Cans Market size was valued at USD 39.20 billion in 2022 and is poised to grow from USD 41.28 billion in 2023 to USD 62.39 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).
Anticipated growth in the market is spurred by the growing consumption of beverages such as carbonated soft drinks, beer, and cider. Concurrently, the escalating restrictions and bans on plastic products due to sustainability concerns are expected to intensify the demand for alternative packaging solutions, consequently bolstering market expansion. Notably, metals, particularly aluminum and steel, offer superior physical properties surpassing alternative materials.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fruits and Vegetable
Fastest Growth
Growth Rate
5.3% CAGR
Global Beverage Cans Market ($ Bn)
Country Share for North America Region (%)
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Beverage Cans Market Segmental Analysis
The global Beverage Cans market is segmented into three segments i.e. by Material, Application and Region. Based on Material the market is segmented as, Aluminum, Steel. Based on Application the market is segmented as, Carbonated Soft Drinks, Alcoholic Beverages, Fruits & Vegetable Juices, Others. Based on Regional the market is segmented as, North America, Europe, Asia Pacific, Latin America.
Analysis by Material
The aluminum segment continues to stand at the forefront of the market, commanding a substantial volume share of 95.1% in 2021 and is poised to sustain its dominance through the entire forecast period spanning from 2023 to 2030. Additionally, this segment is anticipated to sustain its rapid revenue growth, projecting a robust CAGR of 5.4% throughout the forecast period.
The steel segment stands as a substantial player within the beverage cans market, presenting itself as a viable alternative material in tandem with aluminum for can production. Steel holds a distinct position owing to its distinct characteristics while aluminum maintains its dominance.
Analysis by Application
The alcoholic beverages segment stands as the reigning market leader, both in value and volume, and is poised to maintain its dominant position throughout the forecast period spanning from 2023 to 2030. This sustained dominance is attributed to multiple factors, notably the escalating demand for alcoholic beverages among the millennial demographic, particularly in developing economies. The market's growth trajectory is further fueled by rapid urbanization, a notable rise in disposable income, and a growing consumer inclination toward premium and high-quality products.
The forecast period anticipates significant growth in the fruits and vegetable segment, projecting the highest CAGR in both volume and value. This surge primarily stems from the burgeoning demand for fruit and vegetable juices, propelled by a heightened consumer focus on health and wellness. As individuals increasingly prioritize healthier lifestyles, there's a corresponding uptick in the consumption of these juices due to their perceived health benefits.
Global Beverage Cans Market By Application
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Beverage Cans Market Regional Insights
In 2022, North America emerged as the market leader, commanding both volume and value shares, and is anticipated to sustain this dominant position from 2023 to 2030. With a substantial 35.8% volume share in 2022, the region is forecasted to maintain its stronghold, projecting a 35.1% volume share by 2030. This prolonged dominance signifies the region's enduring significance within the market landscape, indicating a consistent market influence and a sustained market share over the forecast period.
Asia Pacific predicts an impressive revenue CAGR of 6.7% spanning from 2023 to 2030, marking it as the fastest-growing sector in this timeframe. Recognized as a significant consumer of both alcoholic and non-alcoholic carbonated beverages, this region's trajectory is propelled by a burgeoning millennial population seeking customized packaging solutions with heightened aesthetic appeal.
Global Beverage Cans Market By Region
- Largest
- Fastest
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Beverage Cans Market Dynamics
Drivers
High Demand for Ready-to-Drink Beverages to Positively Affect the Market
- The dynamic shift in consumer behavior is being driven by several key factors, including exponential population growth, rising disposable income, and evolving lifestyles. This transformation has led to a notable preference for convenient, ready-to-drink beverages. Canned variations of popular drinks such as tea, coffee, wine, and water are witnessing a surge in demand owing to their convenient and portable nature, perfectly aligning with modern-day hectic schedules and on-the-go lifestyles.
Restraints
Increasing Preference Towards PET Bottles to Hamper the Growth
- The market is experiencing a notable shift as beverage manufacturers increasingly favor PET and glass bottles, posing a constraint on the growth of metal cans. PET bottles present similar advantageous properties to metal cans, including reusability, durability, lightweight design, and effective oxygen gas barrier properties. They emerge as a cost-effective alternative for beverage manufacturers, offering comparable benefits to metal cans at a lower production cost. Furthermore, PET bottles require significantly less energy during manufacturing compared to the energy-intensive process involved in creating beverage cans.
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Beverage Cans Market Competitive Landscape
The competitive environment of the global Beverage Cans Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
- Mahmood Saeed Beverage Cans & Ends Industry Company Limited
- Kian Joo Can Factory Berhad
- SWAN Industries (Thailand) Company Limited
- GZ Industries Limited
- Toyo Seikan Co., Ltd.
- Ball Corporation
- Orora Packaging Australia Pty Ltd.
- The Olayan Group
- Crown Holdings, Inc.
- Bangkok Can Manufacturing
- CPMC Holdings Limited
- CANPACK
- Nampak Ltd.
- Ardagh Group S.A.
- Envases Group
Recent Developments
- In January 2024, The Board of Control for Cricket in India (BCCI) declared Campa soft drinks and Atomberg Technologies home appliances as the official partners for its India home cricket season spanning from 2024 to 2026.
- In January 2024, Khalifa Fund for Enterprise Development and Cari, a food delivery application, unveiled their strategic partnership, aimed at bolstering support for local F&B businesses in managing their delivery operations. The collaboration offers an array of advantages designed to fortify F&B enterprises and foster their economic growth.
- In May 2023, can manufacturers and coil coaters accelerating their transition away from bisphenol A (BPA) now have access to a viable alternative: a new BPA non-intent (BPA-NI) internal coating for beverage can ends developed by AkzoNobel Packaging Coatings.
Beverage Cans Key Market Trends
- The anticipated substantial growth in the global market is attributed to the rising emphasis on recycling used beverage cans. This increased focus stems from the growing demand for efficient utilization of natural resources, compelling the recycling of metals for reuse. Notably, metal recycling has gained considerable traction with support from government bodies like the European Commission and the U.S. government, mandating the exchange and recycling of used cans. Additionally, the surge in municipal recycling programs across nations such as the U.S., Italy, Brazil, Indonesia, and the U.K. further bolsters the market.
Beverage Cans Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. As highlighted by the International Aluminium Institute, the economic worth of aluminum through recycling, coupled with its infinite recyclability, positions aluminum beverage cans as the most recycled containers globally. With an impressive average global recycling rate of 60%, certain countries have achieved rates exceeding 90%, underscoring the success of recycling initiatives. This high recycling rate, stemming from aluminum's cost-effective recyclability and its associated sustainability benefits, is forecasted to serve as a key driver fostering market growth throughout the forecast period from 2023 to 2030.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 39.20 billion |
| Market size value in 2031 | USD 62.39 billion |
| Growth Rate | 5.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Beverage Cans Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Beverage Cans Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Beverage Cans Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Beverage Cans Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Beverage Cans Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Beverage Cans Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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