Growing beverages consumption is driving the market for beverage cans
- Vikas Kumar
- July 30, 2022
- CHEMICAL, NEWS
- Beverage cans market, Beverage cans market Forecast, Beverage cans market Growth, Beverage cans market Share, Beverage cans market size, Beverage cans market Trend
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The global beverage cans market is likely to showcase a growth of around 5% during the forecast period. This can be ascribed to the increasing consumption of both alcoholic and non-alcoholic beverages across the world and mainly in developing economies owing to changing lifestyles and improving income. Further, increasing adoption of plastic-free packaging is propelling the market for aluminum cans.
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The penetration of beverage cans in the global beverage packaging industry is growing with changing consumer purchasing patterns, rising millennials population, launches of new products or brands, high recycled rates, and reduction in beverage cans weight and greenhouse gas emissions. For instance, according to the Aluminum Association, 43% average greenhouse gas emissions reduction for an aluminum beverage can produced in North America since 1991, aluminum cans contain 73% recycled content – 12 times as much as plastic and 3 times as much as glass, and 38% weight reduction of the average aluminum beverage can since the 1970s. However, the growing use of aluminum cans, particularly in the craft beer market, has driven an increase in plastic (rather than ink) and labeling on aluminum beverage cans. These labels and other plastic components integrated with the cans are affecting the value of aluminum can recycling and causing operational and compliance problems for recyclers.
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Based on material, the market is categorized into aluminum and steel. Among both, aluminum accounted for a dominating position in the market, and it is expected to retain its position during the forecast period. This can be attributed to its indefinitely recyclable property. Aluminum-based cans are much more efficient to transport, and store compared to steel as they are easy to stack and lightweight. Further, Aluminum cans chill quickly, provide a superior metal canvas for 360-degree labeling and protect flavor and freshness.
Further, increasing consumption of alcoholic drinks like beer in developing countries such as India is promoting the use of aluminum cans as consumers prefer cans over glass packaging due to easy handling and limited possibility of breakage. Therefore, as the demand for alcoholic beverages increases, thus it is expected that the market for aluminum cans would grow.
Based on the application, the market is categorized into alcoholic beverages and non-alcoholic beverages. Of both, non-alcoholic beverages stood with a considerable market share in 2020 and are expected to showcase significant growth over the forecast period owing to the large portfolio of non-alcoholic beverages including carbonated drinks, water, juice, sports and energy drinks, and still drinks to name a few. As consumer income is increasing, a large number of consumers are shifting towards metal cans packaging over conventional packaging containers.
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For a better understanding of the market adoption of Beverage Cans, the market is analyzed based on its worldwide presence in the countries such as North America (The United States, Canada, Rest of North America), Europe (Germany, The UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America accounted for a significant share in the global beverage cans market and is expected to maintain a prominent position during the forecast period owing to high per-capita consumers of alcoholic and non-alcoholic beverages in the regional countries mainly in the US and Canada. Further, the presence of global beverage leaders in the region like PepsiCo Inc. and The Coca-Cola Company is propelling the growth of the regional market.
Global Beverage Cans Market Segmentation
Market Insight, by Material
• Aluminum
• Steel
Market Insight, by Structure
• 2-Piece Cans
• 3-Piece Cans
• Others
Market Insight, by Application
Market Insight, by Region
- North America Beverage Cans Market
- The United States
- Canada
- Rest of North America
- Europe Beverage Cans Market
- Germany
- The United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific Beverage Cans Market
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Rest of World Beverage Cans Market
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