Beverage Metal Cans Market Size Worth US$ 47,852.42MN, Globally, by 2028 at 5.7% CAGR - Exclusive Report by The Insight Partners

NEW YORK, May 31, 2022 /PRNewswire/ -- The Insight Partners published latest research study on Beverage Metal Cans Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material (Aluminum and Steel), Application (Carbonated Soft Drinks, Alcoholic Drinks, Fruit and Vegetable Juices, and Others), and Geography," the market is projected to reach US$ 47,852.42 million by 2028 from US$ 34,363.14 million in 2022; it is expected to grow at a CAGR of 5.7% during 2022–2028. Metal cans is one of the most popular environment-friendly packaging solutions in end-use industries. The cans are highly recyclable with recycling infrastructure well established in most parts of the world. Moreover, the growing regulations on plastic packaging increased the utilization of beverage metal cans for single use purpose.

As beverage metal cans can be manufactured using recycled raw materials, the overall carbon footprint of the packaging is reduced and therefore contributes toward green packaging initiatives. Several government initiatives, such as the Circular Economy directive by European Union that restricts the use of non-biodegradable packaging products, are expected to benefit the growth in demand for beverage metal cans during the forecast period.

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Beverage Metal Cans Market: Competitive Landscape and Key Developments

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 prominent players operating in the global beverage metal cans market.

In 2021, North America accounted for the largest share of the global beverage metal cans market. The market in Asia Pacific is expected to grow at the highest rate during the forecast period. Increasing consumption of alcoholic beverages boosts the demand for metal cans in the region. According to International Wine & Spirit Research (IWSR), in Asia Pacific, demand for alcoholic beverages decreased in 2020. However, the market recovered positively. The demand for ready-to-drink alcoholic beverages is growing at a faster pace in countries, such as India, Indonesia, Singapore, and China. Metal cans are used in the packaging of ready-to-drink beverages. Thus, the growing demand for ready-to-drink beverages is expected to propel the growth of the beverage metal cans market in Asia Pacific during the forecast period.

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Recyclable Property of Metal Cans to Boost Market Growth during Forecast Period

The adoption of reusable packaging has expanded among consumers in response to rising environmental concerns. Metal cans can be reused several times without compromising the material's quality. Furthermore, the need to reduce the usage of traditional plastic packaging has increased the demand for reusable metal packaging. Thus, the large market participants, such as Ball Corporation, are providing circular delivery services to replace single-use throwaway packaging with durable and reusable metal cans.

Beverage Metal Cans Market: Segmental Overview

Based on material, the global beverage metal cans market size is segmented into aluminum and steel. In 2021, the aluminum segment accounted for a larger market share and is expected to register a higher CAGR during the forecast period. Based on application, the global beverage metal cans market size 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, whereas the carbonated soft drinks segment is expected to register the highest CAGR during the forecast period.

The demand for portable and efficient packaging solutions for beverages drives market expansion. The increased use of non-alcoholic beverages among health-conscious customers is predicted to stimulate demand for beverage cans. The introduction of sports drinks and fruit juices, as well as the rising consumption of Ready-to-Drink (RTD) products in can packaging, are likely to boost the market growth. With rising health consciousness among customers worldwide, beverage makers are upgrading and launching products with an emphasis on natural, low-calorie, and low-sugar ingredients like stevia. This is expected to increase the number of health-conscious customers.

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Metal beverage cans are used to protect beverages from the outside environment, tampering, and support the product during transit or handling. Metal beverage cans aid in the constant distribution of beverages across the value chain, reducing manufacturing or transition losses. Metal packaging materials are used in the beverage sector for soft drinks, water, beer, dairy products, sports and energy drinks, ready-to-drink tea & coffee, alcoholic drinks, and other products.

The leading global beverage metal cans market players include 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. These players are focused on strategies such as research and development and new product development to increase the geographical presence and consumer base globally.

Many international corporations working in beverage manufacturing have a substantial presence in the manufacturing of beverage metal cans. Canpack and Ardagh Group S.A. are among the key players in the beverage metal cans industry. Manufacturers in the area are investing heavily in beverage metal cans research and development and product development, which is projected to drive the beverage metal cans market during the forecast period.

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Based on application, the beverage metal cans market is segmented into carbonated soft drinks, alcoholic drinks, fruit and vegetable juices, and others. The alcoholic drinks segment accounted for the largest share, whereas the market for the carbonated soft drinks segment is expected to grow at the highest rate during the forecast period. Carbonated soft drinks are fizzy nonalcoholic beverages made with clean water, sugar, natural sweeteners or sugar alternatives (in diet drinks), caffeine, artificial flavoring ingredients, fruit juice concentrations, preservatives, and coloring additives.

Sprite, Coca-Cola, Mountain Dew, and Monster are a few the most well-known soft drink brands worldwide. The availability of carbonated soft drinks in a wide range of fruit flavors has increased customer demand. The drinks are typically sold in convenience stores, restaurants, casual dining establishments, movie theatres, dedicated soda stores, and vending machines. Further, coatings such as epoxy-amino resin or epoxy-phenolic resin systems restrict corrosion of cans from acidic products, such as carbonated soft drinks. However, almost all food cans are made of steel. However, the unique qualities of aluminum make metal cans ideal for storing carbonated beverages.

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The overall beverage metal cans market size has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain analytical insights into the topic.

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