Beverage Can Market on Track for Strong Growth, Estimated to Grow at 5.6% CAGR Through 2029

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What Is the Expected CAGR for the Beverage Can Market Through 2025?
The size of the beverage can market has seen consistent growth over the recent years. There is an expected increase from $33.64 billion in 2024 to $34.84 billion in 2025, projecting a compound annual growth rate (CAGR) of 3.6%. Various factors such as the transition from glass to can, enhanced consumer inclination for convenience, intensified initiatives towards sustainability and recycling, improved brand distinction and promotion, and cost-effective production have contributed to this growth during the historic period.

What's the Projected Size of the Global Beverage Can Market by 2029?
The market size of beverage cans is projected to experience robust expansion in the coming years, reaching a value of $43.37 billion in 2029, with a compound annual growth rate (CAGR) of 5.6%. The anticipated growth during the forecast period can be tied to various factors such as the surge in health and wellness trends, the boom in e-commerce, the introduction of non-alcoholic beverages, advancements in materials and manufacturing processes, and global economic growth. Key developments to look out for in the forecast period encompass sustainable and environmentally friendly packaging, innovative design of cans, functional packaging, use of lighter and innovative materials, digital printing and labelling, and a resilient supply chain.

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Top Growth Drivers in the Beverage Can Industry: What's Accelerating the Market?
The surge in beverage consumption is anticipated to stimulate the expansion of the beverage can industry. A beverage is any ingestible liquid that is not water, particularly. Aluminum cans serve as a packaging solution for beer storage and distribution. The recyclability, lightweight nature, stackability, and efficient freight and storage characteristics of aluminum drink containers contribute to their appeal. Therefore, a spike in beverage consumption will result in greater demand for beverage cans, stimulating market growth. For example, the Soda Consumption by Country 2023 report by World Population Review, a US organization that simplifies complex demographic data into user-friendly articles about nations and cities' populations, reveals that Argentina leads the world in soda consumption, with the average individual consuming 155 liters annually. The United States, following closely behind with each citizen consuming 154 liters of soda per year, possesses some of the highest soda consumption rates globally. Consequently, the rising beverage consumption is propelling the beverage can industry's growth.

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What Are the Key Trends Driving Beverage Can Market Growth?
The emergence of product innovation as a significant trend in the beverage can market is something to pay attention to. To cement their place in the market, prominent market participants are channeling their resources towards the development of unique products. For example, Ardagh Metal Packaging (AMP), a company based in Luxembourg known for supplying sustainable, infinitely recyclable, metal beverage cans to brand owners, unveiled a 19.2oz beverage can in January 2023. This new can provides a middle ground for consumers, providing a size that falls between the standard 16 oz and 24 oz sizes to cater to the growing single-serve channel demand. It also provides companies with the opportunity to branch out into new product categories, such as water, hard seltzer, beer, and cider.

What Are the Main Segments in the Beverage Can Market?
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

Subsegments:
1) By Steel: Tinplate, Tin-free Steel
2) By Aluminum: Aluminum Alloy
3) By Other Materials: Plastic, Composites

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Which Top Companies are Driving Growth in the Beverage Can Market?
Major companies operating in the beverage can market include 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, Metal Container 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.

Which Regions Will Dominate the Beverage Can Market Through 2029?
North America was the largest region in the beverage can market in 2024.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

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