The growth of the market is attributed to the rapidly growing environmental awareness across the globe. Therefore, various government regulations are implemented to substitute plastic packaging with metal or glass packaging, which is recyclable and environment friendly. The overall carbon footprint of the beverage metal cans is lower than plastic packaging as the raw material can be obtained from recycled materials and does not require virgin raw materials, unlike plastic. Moreover, the metal packaging is durable and considered to be safe for applications in the food & beverages industry.
In 2021, North America held the largest share of the global beverage metal cans market. However, Asia Pacific is estimated to register the highest CAGR in the market during the forecast period. The market in Asia Pacific is segmented into China, India, Japan, South Korea, and Australia. Countries, such as South Korea, China, and Japan, are among the major market for food and beverages. The region is also home to numerous manufacturers of food and beverages, who are growing due to increased domestic demand for packaged beverages. The rising production of beverages in Asia Pacific and increasing preference for recyclable packaging materials would contribute to the market growth in the region during the forecast period.
The COVID-19 pandemic had significantly disrupted the manufacturing sector in terms of operational efficiency owing to extended lockdowns across different regions; manufacturing unit shutdown; restrictions on travel, international trades, and supply chain; and shortage in the raw materials supply. The pandemic has negatively impacted the market owing to the shutdown of manufacturing units, rising prices of raw material, shortage of labor, disruption of supply chains, and financial instability. Moreover, the disruption of the food & beverages industry due to economic slowdown caused by the COVID-19 outbreak has hindered the growth of the market. However, businesses are gaining ground as previously imposed limitations are being eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries has further eased out the situation, leading to rise in business activities across the world. Furthermore, governments of different countries are planning to develop modern and technologically advanced infrastructure to mitigate the economic impacts of the pandemic. In the lockdown, consumers purchased high number of packaged foods and beverages instead of food service items. Thus, despite the negative impacts of the COVID-19 pandemic, the market for beverage metal cans is expected to gain a significant growth in the coming years.
Carbonated soft drinks are made to suit consumers' tastes and flavor preferences, and these products have recently been created to serve as functional beverages for health-conscious consumers. Carbonated soft drinks have grown in popularity among consumers due to the continuous launch of new flavors by manufacturers. The increased demand for clean-label, gluten-free, low-calorie, and low-carb goods has increased the demand for carbonated soft drinks. Metal cans are widely used as a packaging material for carbonated soft drinks.
Consumers expect freshly launched soft drinks to be free of long-term health-damaging ingredients and to promote physical and mental fitness through carefully selected ingredients. Low-sugar soft drinks and products with stress-relieving effects are anticipated to remain popular among consumers. The trend of healthy beverages has grown in popularity as the functional beverage industry has expanded and customers' health consciousness has increased. The easy availability of low or zero-calorie beverages in the market, such as at Walmart and convenience stores, has propelled the consumption of carbonated soft drinks. Thus, the increased demand and consumption of carbonated soft drinks drive the beverage metal cans market growth.
Based on application, the global beverage metal cans market is segmented into carbonated soft drinks, alcoholic drinks, fruit and vegetable juices, and others. In 2021, the alcoholic drinks segment accounted for the largest market share. Alcoholic drinks are fermented from the sugars in berries, fruits, grains, and other components such as plant saps, tubers, honey, and milk. They can be distilled to transform the original watery liquid into a liquid with considerably higher alcoholic strength. Further, the increased demand for portable containers propels the growth of the alcoholic drinks segment. Because of changing work habits of consumers worldwide, the market for canned alcoholic beverages is likely to grow. Canning helps to keep the fiber content in beverages, improving the shelf-life without compromising quality, making it a go-to option for beverage manufacturers producing drinks with soft-functional advantages.
Ball Corporation; Crown Holdings, Inc.; Ardagh Group S.A.; CANPACK; Orora Packaging Australia Pty Ltd; Amcor plc; Silgan Containers LLC; ZI Industries Limited; SHOWA DENKO K.K.; and Envases Group are among the players operating in the beverage metal cans market. These companies provide a wide range of product portfolio for the market. The companies have their presence in the developing regions, which provides lucrative opportunities for the beverage metal cans market growth. The market players are developing high-quality and innovative products to meet the customer’s requirements.
The regional trends and factors influencing the Beverage Metal Cans Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Beverage Metal Cans Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 34.36 Billion |
| Market Size by 2028 | US$ 47.85 Billion |
| Global CAGR (2022 - 2028) | 5.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Material
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Beverage Metal Cans Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Beverage Metal Cans Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The "Global Beverage Metal Cans Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry with a special focus on the global beverage metal cans market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The beverage metal cans market is segmented on the basis of material, application, and geography. By material, the market is segmented into aluminum and steel. By application, the beverage metal cans market is segmented into carbonated soft drinks, alcoholic drinks, fruit and vegetable juices, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America.
The List of Companies - Beverage Metal Cans Market
Increased worldwide beverage consumption and a spike in demand for sustainable packaging alternatives have resulted in increased use of aluminum cans. Furthermore, these cans can be personalised in terms of colors and 3D printing, as well as embossed, making them more attractive to buyers. These factors are boosting the growth of the beverage metal cans market.
Based on material, the aluminum segment is expected to be the fastest-growing segment during the forecast period. Recyclability of aluminium cans is the major factor propelling the demand for aluminum cans.
In 2021, the alcoholic drinks segment held the largest market share. In 2021, the demand for portable containers that are less brittle than glass was high, which led the canned alcoholic beverage industry forward.
In 2021, the aluminum segment held the largest market share. Environmental groups' initiatives and public awareness about the environment have increased awareness among users worldwide. Consumers demand packaging products that have little to zero environmental impact. Consumers are increasingly rejecting plastic, while demand for recycled items is increasing. As a result, metal packed items, such as aluminium cans, held the largest market share in 2021.
The major players operating in the beverage metal cans market are Ball Corporation, Crown Holdings, Inc., Ardagh Group S.A., Canpack, Orora Packaging Australia Pty Ltd., Amcor plc., Silgan Containers LLC, GZI Industries Limited, Showa Denko K.K., and Envases Group.
In 2021, North America accounted for the largest global beverage metal cans market share. Metal cans are the most often used container for beverages. Metal packaging is the most noticeable packaging trend in canned wine, cocktails, hard beverages, and soft drinks. They have traditionally been used for alcoholic drinks such as beer, whereas other types of liquor, such as wine, which has traditionally been served in glass bottles, are increasingly adopting metal cans to provide single-serving options.