Beverage Cans Market Size Share Increasing Demand Industry Growth Forecast Till 2023

Market Highlights

Beverage cans are used for packaging of different alcoholic and non-alcoholic beverages, such as CSD, energy drinks, juices, and beers. Increasing consumption of canned beverages in major sports tournaments such as Barclays Premier League, Major League Baseball, IPL and La Liga, drive the growth of the market. Innovation in metal cans such as packaging, shapes, and sizes, are also fuelling the growth of the market. This is mainly due to more expenditure by companies more on packaging innovation than production cost. However, fluctuating and high prices of raw materials, may hamper the growth of the market.

The key strategies traced from the analysis of recent developments of the key players include product launch, agreement & partnership, acquisition and expansion. For example, Crown Holdings Inc. acquired EMPAQUE; a leading aluminum can manufacturer in Mexico to expand its market share in the region. Also, in June 2016, Ball Corporation, one of the largest manufacturers of beverage cans, announced the acquisition of Rexam PLC for, approximately, USD 6.1 billion of cash.

On the basis of regions, North America region dominates the global beverage cans market. Asia Pacific is expected to grow at the highest CAGR during the forecast period. The young population, with significant disposable income, will also fuel the demand for beverage cans in the coming years. China accounts for the largest share of the beverage cans market in the Asia Pacific region.  Latin America and Middle-East & Africa are also expected to witness a positive growth during the forecast period due to growing consumption of alcoholic beverages in Brazil, South Africa, & in Middle East region.

Global beverage cans market is projected to grow at a CAGR of 3.8% during the forecast period.

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Market Research Analysis

Global beverage cans market has been segmented based on material, application, and region. On the basis of material, the market is segmented as aluminum and steel. Aluminum material dominates the material segment of the market and is expected to be the fastest growing material segment. Aluminum possesses many advantages over steel cans as it is lightweight and has high recycling rates with easy fabrication processing. It also helps food & beverage manufacturers reduce the weight of cans by more than 30%, with high recycling rate. Steel material is also expected to contribute significantly during the forecast period.

On the basis of application, the market is segmented as carbonated soft drinks, alcoholic beverages, fruit & vegetable juices and others. Alcoholic beverages dominates the application segment of the market. Increase in demand for alcoholic beverages such as beer and cider in both, developed and developing countries drives the growth of the market. Fruit & vegetable juices segment is expected to have the highest CAGR during the forecast period. Rising concerns regarding personal health among the consumers, fuel the demand of beverage cans. Carbonated soft drinks segment is expected to contribute, significantly, during the forecast period.

Scope of the Report

This study provides an overview of the global market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global beverage cans market by its material, application and region.

By Material

  • Aluminum
  • Steel

By Application

  • Carbonated Soft Drinks
  • Alcoholic Beverages
  • Fruit & Vegetable Juices
  • Others

By Region

  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  

Browse complete report @ https://www.marketresearchfuture.com/reports/beverage-cans-market-5180 

Key Players

The prominent players in the global beverage cans market include BWAY Corporation (U.S.), Kian Joo Can Factory Berhad (Malaysia), Toyo Seikan Group Holdings, Ltd. (Japan), CPMC Holdings Ltd. (China), Orora Packaging Australia Pty Ltd (Australia), HUBER Packaging Group GmbH (Germany), Crown Holdings Incorporated (U.S.), Ball Corporation (U.S.), Ardagh Group (Luxembourg), Silgan Holdings Inc. (U.S.), Can-Pack SA, (Poland) and others.

Company name: Market Research Future

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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