What is the global market size of Beverage Cans Market?

Global Beverage Cans Market size was valued at USD 37,234.28 Million in 2021 and is poised to grow from USD 39,207.7 Million in 2022 to USD 59,265.01 Million by 2030, growing at a CAGR of 5.3% in the forecast period (2023-2030).

Global Beverage Cans Market Size, Share, Growth Analysis, By Material(Aluminum, Steel), By Application(Carbonated Soft Drinks, Alcoholic Beverages) - Industry Forecast 2024-2031

Report ID: SQMIG30D2012 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 63 | Figures: 70

Global Beverage Cans Market Insights

Global Beverage Cans Market size was valued at USD 39.20 billion in 2022 and is poised to grow from USD 41.28 billion in 2023 to USD 62.39 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

Anticipated growth in the market is spurred by the growing consumption of beverages such as carbonated soft drinks, beer, and cider. Concurrently, the escalating restrictions and bans on plastic products due to sustainability concerns are expected to intensify the demand for alternative packaging solutions, consequently bolstering market expansion. Notably, metals, particularly aluminum and steel, offer superior physical properties surpassing alternative materials.

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The competitive environment of the global Beverage Cans Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Mahmood Saeed Beverage Cans & Ends Industry Company Limited', 'Kian Joo Can Factory Berhad', 'SWAN Industries (Thailand) Company Limited', 'GZ Industries Limited', 'Toyo Seikan Co., Ltd.', 'Ball Corporation', 'Orora Packaging Australia Pty Ltd.', 'The Olayan Group', 'Crown Holdings, Inc.', 'Bangkok Can Manufacturing', 'CPMC Holdings Limited', 'CANPACK', 'Nampak Ltd.', 'Ardagh Group S.A.', 'Envases Group '

The dynamic shift in consumer behavior is being driven by several key factors, including exponential population growth, rising disposable income, and evolving lifestyles. This transformation has led to a notable preference for convenient, ready-to-drink beverages. Canned variations of popular drinks such as tea, coffee, wine, and water are witnessing a surge in demand owing to their convenient and portable nature, perfectly aligning with modern-day hectic schedules and on-the-go lifestyles.

The anticipated substantial growth in the global market is attributed to the rising emphasis on recycling used beverage cans. This increased focus stems from the growing demand for efficient utilization of natural resources, compelling the recycling of metals for reuse. Notably, metal recycling has gained considerable traction with support from government bodies like the European Commission and the U.S. government, mandating the exchange and recycling of used cans. Additionally, the surge in municipal recycling programs across nations such as the U.S., Italy, Brazil, Indonesia, and the U.K. further bolsters the market.

In 2022, North America emerged as the market leader, commanding both volume and value shares, and is anticipated to sustain this dominant position from 2023 to 2030. With a substantial 35.8% volume share in 2022, the region is forecasted to maintain its stronghold, projecting a 35.1% volume share by 2030. This prolonged dominance signifies the region's enduring significance within the market landscape, indicating a consistent market influence and a sustained market share over the forecast period.

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Global Beverage Cans Market Size, Share, Growth Analysis, By Material(Aluminum, Steel), By Application(Carbonated Soft Drinks, Alcoholic Beverages) - Industry Forecast 2024-2031

Global Beverage Cans Market Insights

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