Rising Beverage Consumption Boosts Beverage Can Market to $41.93 Billion by 2028

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Beverage Can Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $41.93 billion In 2028 At A CAGR Of 5.3%:

The beverage can market size has grown strongly in recent years. It will grow from $32.32 billion in 2023 to $34.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to shift from glass to cans, increased consumer preferences for convenience, increased sustainability and recycling initiatives, increased brand differentiation and marketing, cost efficiency in production.

The beverage can market size is expected to see strong growth in the next few years. It will grow to $41.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to rising health and wellness trends, e-commerce expansion, emergence of non-alcoholic beverages, innovations in material and manufacturing, global economic growth. Major trends in the forecast period include sustainability and eco-friendly packaging, innovative can designs, functional packaging, lightweighting and material innovations, digital printing and labeling, supply chain resilience.

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Beverage Can Market Major Segments
The beverage can market covered in this report is segmented -
1) By Material: Steel, Aluminum, Other Materials
2) By Structure: Two Piece Can, Three Piece Can
3) By Can Coating: Epoxy, Polyester, Vinyl, Other Can coatings
4) By Application: Non-Alcoholic Beverage, Alcoholic Beverage, Sports And Energy Drinks, Fruit Based Drinks, Carbonated Soft Drinks, Other Applications

Key Driver - Rising Beverage Consumption Fuels Growth In The Beverage Can Market Driven By High Demand And Recyclable Nature Of Aluminum Containers

Increasing consumption of beverages is expected to propel the growth of the beverage can market going forward. Beverage refers to any drinkable liquid, especially one that is not water. Aluminum cans are used as a packaging solution for storing and distributing beer. Aluminum beverage containers are recyclable and lightweight, stackable, and incredibly efficient to freight and store. Hence, the increasing consumption of beverages will result in a rise in demand for beverage cans which will boost the growth of the market. For Instance, according to Soda Consumption by Country 2023 report published by World Population Review, a US-based agency that turns complex demographic information into easy-to-understand articles on the population of countries and cities, Argentina has the most soda consumption in the world where the average person consumes about 155 liters in a year. Further, the United States is in second place with some of the highest soda consumption rates worldwide where each US resident drinks 154 liters annually. Therefore, the increasing consumption of beverages is driving the growth of the beverage can market.

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Prominent Trend - Sustainable Packaging Solutions Take Center Stage In The Evolving Beverage Can Market Landscape

Product innovation is a key trend gaining popularity in the beverage can market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in January 2023, Ardagh Metal Packaging (AMP), a Luxembourg-based supplier of sustainable, infinitely recyclable, metal beverage cans to brand owners, launched a 19.2oz beverage can which is designed for beverage brand customers. The new can gives consumers the option to select a size between the more conventional sizes of 16 oz and 24 oz to meet the rising demand in the single-serve channel. The packaging will allow firms to diversify into new product categories like water, hard seltzer, beer, and cider.

Beverage Can Market Players
Major companies operating in the beverage can market report are Crown Holdings Inc., Ardagh Group S.A., CPMC Holdings Limited, Toyo Seikan Group Holdings Ltd., Can-Pack S.A., Ball Corporation, Envases Universales S.A. de C.V., GZ Industries Limited, Showa Denko K.K., Nampak Beverage Can (Pty) Limited, The Olayan Group, Techpack Solutions Private Limited, Orora Packaging Australia Pty Ltd, Kien Joo Can Factory Berhad, Silgan Holdings Inc., Can-One Berhad, Universal Can Corporation Inc., Interpack Group Inc., Ceylon Beverage Can (Private) Limited, Baoshan Iron & Steel Co Ltd., Asia Packaging Industries Sdn Bhd, Jiangsu Baosteel Metal Products Co Ltd., Rexam PLC, HUBER Packaging Group GmbH, O-I Glass Inc., Metal Container Corporation, BWAY Corporation, Alltub Group, Massilly Group, Independent Can Company, Great China Metal Industry Company Limited, Hulamin Containers Limited, Shanghai Z Z Zijiang Enterprise (Group) Co Ltd., Emballator Metal Group, China International Marine Containers (Group) Ltd., Grupo Zapata S.A. de C.V., ShengXing Group Co Ltd., Benjamit Packaging Co Ltd., Arabian Can Industry LLC, Grupo Vidriera Del Norte S.A. de C.V.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the beverage can market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global beverage can market report during the forecast period. The regions covered in the beverage can market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Beverage Can Market Report Structure
3. Beverage Can Market Trends And Strategies
4. Beverage Can Market - Macro Economic Scenario
5. Beverage Can Market Size And Growth
…..
27. Beverage Can Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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