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The beverage can ends market share is expected to increase by USD 438.78 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.02%.
This beverage can ends market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers beverage can ends market segmentation by material (aluminum and steel) and geography (North America, APAC, Europe, South America, and MEA). The beverage can ends market report also offers information on several market vendors, including Ardagh Group SA, Ball Corp., Can Ends Packaging Ltd., CAN-PACK SA, Crown Holdings Inc., Envases Universales de Mexico SAPI de CV, Helvetia Packaging AG, Mahmood Saeed Beverage Cans & Ends Industry Company Ltd., Novelis Inc., and Orora Packaging Australia Pty Ltd. among others.
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Based on our research output, there has been a positive impact on the market growth during and after post COVID-19 era. The increased need for metal cans is notably driving the beverage can ends market growth, although factors such as the anticipated rise in steel prices during the forecast period may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the beverage can ends industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Beverage Can Ends Market Driver
The increased need for metal cans is one of the key factors driving the growth of the global beverage can ends market. Metal cans are used for beverages such as beer, soft drinks, ready-to-drink tea and coffee, and juices. The primary factor driving the growth of the global beverage can ends market is the augmented need for metal cans. Metal packaging is popular in the beverage industry, as it offers several advantages throughout the supply chain. A hermetic seal indicates that the metal cans or glass containers are airtight. Metal cans provide better hermetic seals. This is because metal has better sealing properties to restrict the flow of gases. Metal cans are less prone to breakage during transit. Metal cans can be used in fast-processing environments or in varying temperatures because the properties of the material remain unaffected as opposed to plastic packaging, which, when exposed to heat or higher temperature, can undergo a change in shape because of the lower melting point. It is expected that there will be an increased need for beverage can ends globally during the forecast period owing to the increased need for metal cans.
Key Beverage Can Ends Market Trend
The development of innovative beverage can ends will fuel the global beverage can ends market growth. Beverage can end manufacturers are introducing new and innovative packaging that is not only appealing to consumers in terms of visuals and handling but also beneficial in terms of ease of use. It is also beneficial for beverage manufacturers in terms of marketing and brand recognition. The beverage can end manufacturers provide a wide range of user-friendly designed, colored, incised, and embossed pull-tab ends that help beverage manufacturers to brand their products and deliver brand messaging. For instance, Crown's 360 End beverage can ends are the first beverage cans with full aperture end. This product allows consumers to remove the entire lid, thereby transforming the beverage can into a drinking cup. It further reduces the need for separate glassware. The increased number of product innovations made in the global market in focus by packaging vendors are expected to drive the market growth globally during the forecast period.
Key Beverage Can Ends Market Challenge
The anticipated rise in steel prices during the forecast period is a major challenge for the global beverage can ends market growth. Beverage can ends are mainly made of aluminum and steel. Aluminum is derived from steel. The cost of making aluminum and steel cans is mainly dependent on the price of steel. However, the price of steel is expected to increase during the forecast period, owing to the decision of China to curb its steel production by 145 million to 170 million metric tons in 2020, which is more than 15% of the total steel production in China in 2014. Moreover, The slow growth in the construction industry and the economic slowdown in China are likely to contribute to the decrease in the production of steel. Most steel production in China is expected to be for the domestic market, which will further decrease the export of steel from the country. As a result of the reduction of steel production in China, demand is expected to outweigh supply, which will increase steel prices worldwide. Such factors will hinder the market growth during the forecast period.
This beverage can ends market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global beverage can ends market as a part of the global metal and glass containers market within the overall global containers and packaging market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the beverage can ends market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the beverage can ends market encompasses successful business strategies deployed by the key vendors. The beverage can ends market is fragmented and the vendors are deploying both organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The beverage can ends market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the beverage can ends market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global metal and glass containers market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Material
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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