The global beverage industry is comprised of many drinks including carbonated soft drinks, dilutable, juice, sports & energy drinks, still drinks, bottled water, and alcoholic beverage to name a few. To offer these drinks to the final consumer a range of packaging products are used such as PET bottle, metal can, board carton, board bag in box, glass bottle, and polycarbonate bubble top. PET bottle is the most consumed packaging mainly in non-alcoholic beverages. However, changing consumer preferences i.e., increasing demand for non-plastic packaging and improving income are increasing the market for metal cans. Further, recycling plastic is more complex, leads to degradation, and has lower reuse rates than aluminum. According to the industry association’s data, aluminum cans have on average 73% recycled content – 12 times as much as plastic and 3 times as much as glass. Therefore, as global beverage players are taking several steps to reduce the use of plastic, metal cans can play an important role in this transition.
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According to UnivDatos Market Insights (UMI)’ research report “Global Beverage Cans Market”, the market is expected to showcase a growth of around 5% during the forecast period. The growing beverage industry and increasing demand for plastic substitute packaging are some of the key attributable factors to the growth of the market.
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.
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Based on structure, the market is categorized into 2-piece cans, 3-piece cans, and others. Among these, 2-piece cans are widely consumed in the beverage industry owing to their excellent sealing properties and the fact the manufacturing process particularly suits lightweight aluminum and alloys. These materials have the added advantage of helping beverages cool quickly. Further, since 2-piece cans have fewer seems and therefore a lesser number of weak points. This property makes it the preferred packaging structure for beverage transportation and storage.
North America accounted for a considerable share of the beverage cans market
North America has one of the highest penetration of beverage cans in the global beverage cans market and the industry is expected to witness a similar trend over the forecast period. High consumer purchasing power, large per-capita consumption of alcoholic and non-alcoholic drinks, inclination towards metal cans over PET or other types of packaging owing to looks and growing awareness regarding environment protection. Further, the presence of large food & beverage companies in the region coupled with the launch of old or new products in the market in metal cans packaging is increasing the market for beverage cans in the region. For instance, according to industry data, Mexico and the US has the highest carbonated soft drinks consumption with Mexico having over 630 8-ounce servings per capita and the US having around 620 8-ounce servings per capita in 2019.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global beverage cans market include Crown Holdings Inc., Ardagh Group S.A., CPMC Holdings Limited, Toyo Seikan Group Holdings Ltd., Can-One Berhad, Can-Pack S.A., Ball Corporation, Envases Universales Group, Universal Can Corporation, and Showa Denko K.K. These companies are taking several strategic decisions to meet the growing demand and increase their market share.
“Global Beverage Cans Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Market Segmentation:
- By Material (Aluminum and Steel)
- By Structure (2-Piece Cans, 3-Piece Cans, and Others)
- By Application (Alcoholic Beverages and Non-Alcoholic Beverages)
- By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
- By Company (Crown Holdings Inc., Ardagh Group S.A., CPMC Holdings Limited, Toyo Seikan Group Holdings Ltd., Can-One Berhad, Can-Pack S.A., Ball Corporation, Envases Universales Group, Universal Can Corporation, and Showa Denko K.K.)
Key questions answered in the study:
- What are the current and future trends of the global beverage cans industry?
- How the industry has been evolving in terms of material, structure, and application?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the global beverage cans industry?
- What are the customer orientation, purchase behavior, and expectations from the global beverage cans suppliers across various region and countries?