The global beverage cans market is anticipated to expand at a CAGR of 5% across the 2021-2031 forecast period, according to Fact.MR’s recently published report. A valuation of US$ 70 Bn is projected for the market. Manufacturers are capitalizing on the surging popularity of aluminum cans to garner heightened revenue shares.
Historically, from 2016 to 2020, sales of beverage cans expanded at over 4% CAGR, closing in at over US$ 45 Bn by the end of the said period. Demand has especially surged since the outbreak of COVID-19, as consumers inclined towards consumption of ready-to-drink carbonated, energy and alcoholic beverages across key regions.
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Key Takeaways from the Market Study
- By material, aluminum beverage cans to account for 70% of global demand through 2031
- 2 piece beverage cans to sell like hot cakes, accounting for over 3 out of 5 sales
- Carbonated soft drinks to be most widely marketed beverages, accounting for 2/5th of overall demand
- U.S to emerge as a promising market, expected to grow at a CAGR of 5% until 2031
- Asia to represent substantial growth prospects, yielding 60% of total demand, primarily spurred by India and China
“Growing demand for aluminum cans as an alternative for plastic contains and recyclable, sustainable cans for the beverage industry is growing demand for aluminum cans in the industry,” says a Fact.MR analyst.
Key Segments Covered
- Two Piece Beverage Cans
- Three Piece Beverage Cans
- Steel Beverage Cans
- Aluminium Beverage Cans
- Other (Glass and Plastic) Beverage Cans
- Beverage Cans less than 12 Ounces
- Beverage Cans between 12-24 Ounces
- Beverage Cans more than 24 Ounces
- Alcoholic Beverage Cans
- Carbonated Soft Drink Beverage Cans
- Sports & Energy Drinks Beverage Cans
- Other Beverage Cans
Global Beverage Cans Market: Competitive Landscape
Strategic collaborations enable beverage industries to increase revenue and market share. New products and technologies will enable the growth of beverage cans in the food & beverage industry.
- CANPACK, a major producer of aluminum cans, analyzes market trends and drivers to produce design solutions for beverage producers that take product branding to the next level. With CANPACK’s Quadromix technology the firm is capable of creating four different designs in a single production run.
- SNSTECH develops a resealable can designed for reusing content over and over again. SipNShut, a 100% aluminum resealable beverage cans be developed by SNSTech, has the added benefit of running on existing canning lines with ease and is described as having a smooth pour like a standard beverage can.