Beverage Can Market Size 2024-2028

The beverage can market size is forecast to increase by USD 5.25 billion, at a CAGR of 2.79% between 2023 and 2028. The growth rate of the market is driven by several key factors. One significant driver is the increased need for metal cans, which are widely used for packaging beverages and other consumables due to their durability and recyclability. The expanding sports and energy drinks market also contributes to this demand, as these beverages are frequently packaged in metal cans to preserve their quality and extend their shelf life. Additionally, there is a growing awareness among consumers regarding sustainability and environmental impact. This awareness has led to a preference for eco-friendly packaging solutions, with metal cans being favored for their recyclability and lower environmental footprint compared to plastic alternatives. As consumers become more environmentally conscious, the demand for sustainable packaging options like metal cans continues to rise, further propelling market growth. Overall, these factors collectively enhance the market's growth prospects by aligning with consumer preferences and sustainability trends.

What will be the Size of the Beverage Can Market?

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Beverage Can Market Segmentation

The beverage can market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Application Outlook
  • Non alcoholic beverages
  • Alcoholic beverages
• Material Outlook
  • Aluminium
  • Steel
• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

By Application

The non alcoholic beverages segment is estimated to witness significant growth during the forecast period. The global market encompasses various non-alcoholic beverages, including carbonated soft drinks (CSDs), energy drinks, juices, beer, cider, and alternative packaging solutions for cold coffee, fruit juices, frappes, iced teas, flavored sodas, and more. Metal cans, primarily made of aluminum and steel, dominate the market due to their hermetic seal and barrier against oxygen and sunlight.

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The non alcoholic beverages segment was the largest segment and valued at USD 19.9 billion in 2018. In 2022, Europe, particularly the UK, showed a preference for canned beverages due to taste and convenience. Drivers for market growth include rising global temperatures and disposable income, while challenges include health concerns over artificially sweetened beverages. Manufacturers are addressing this by introducing low-sugar or sugar-free options. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

Material Analysis

Based on material, the market has been segmented into aluminium and steel. The aluminium segment will account for the largest share of this segment. In the beverage market, aluminum cans have emerged as a preferred choice for retail operations due to their lightweight and convenience. Weighing less than other packaging materials like steel and glass, aluminum cans offer energy efficiency during transportation and refrigeration, resulting in lower combined greenhouse gas emissions. Raw material producers and packaging manufacturers have continued to innovate, reducing the weight of aluminum cans by up to 30% without compromising quality. The recyclability of aluminum cans, which is 100% and infinitely recyclable, makes them an environmentally friendly choice. Competition in the market drives innovation, with alternative packaging options like cartons and plastic bottles also vying for market share. Beverage cans and pouches are both popular packaging solutions, offering convenience and portability for a wide range of drinks in the beverage industry. However, aluminum cans' energy efficiency, ease of transportation, and recyclability set them apart. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

Regional Analysis

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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is anticipated to experience significant growth due to increasing demand for packaging RTE food products, fruit juices, aerated drinks, energy drinks, and aluminum beverage cans. Retail operations benefit from the convenience and ease of transportation offered by lightweight, 100% recyclable aluminum cans. The metal recycling market plays a crucial role in reducing environmental concerns, as aluminum cans are environmentally friendly and energy efficient.

Moreover, raw material producers and packaging manufacturers are investing in research and development to enhance the performance of aluminum cans, offering energy drinks, dietary supplements, and other beverages to young adults and the younger generation. However, competition from alternative packaging options, such as cartons, may impact market growth. Assumptions regarding raw material costs and consumer preferences for organic options, real coffee beans, and specific caffeine content will influence product lines in health sections. Hence, such factors are driving the market in APAC during the forecast period.

Beverage Can Market Dynamics

The market encompasses various types of beverages, including soft drinks, beer, and cider. Manufacturers continue to explore alternative packaging solutions, such as metal and aluminum cans, to reduce the carbon footprint associated with transportation and refrigeration. Labeling, printing, and design innovations are crucial in this market, ensuring that beverages stand out on retail shelves. Plastic products, such as PET and polyester bottles, remain popular due to their lightweight and recyclability. However, concerns regarding the use of raw materials and the recycling rate have led to increased interest in more sustainable options. Sterilization is another critical factor in the market, ensuring that beverages remain safe for consumption. Innovations in can manufacturing, such as the use of steel and aluminum, have led to significant reductions in greenhouse gas (GHG) emissions compared to glass bottles and plastic bottles. The recyclability of aluminum cans, for instance, makes them an attractive alternative for retail operations and consumers alike. Overall, the market continues to evolve, with a focus on sustainability, innovation, and consumer convenience.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Increased need for metal cans drives the market growth. The global market experiences significant growth due to the popularity of metal cans in the production and distribution of various beverages, including carbonated soft drinks, beer, cider, and ready-to-drink alternatives like cold coffee, fruit juices, frappes, and iced teas. Metal packaging, particularly aluminum and steel, offers advantages such as superior hermetic seals, resistance to breakage during transit, and stability in fast-processing environments and varying temperatures.

Moreover, labeling, printing, and design innovations further enhance the appeal of metal cans for manufacturers. Natural resources, including metal recycling, play a crucial role in reducing the carbon footprint of the industry. Metal cans have a higher volume share compared to glass bottles and plastic bottles in the global market. The recyclability of metal cans, which can be recycled infinitely without loss of quality, is a significant advantage over plastic products. Hence, such factors are driving the market during the forecast period.

Significant Market Trends

Growing market for RTD coffee and tea is a primary trend in the market. The beverage market, including carbonated soft drinks, beer, cider, and alternative packaging solutions for cold coffee, fruit juices, frappes, iced teas, flavored sodas, and more, has experienced significant growth. Driven by increasing health awareness and disposable income, RTD tea and coffee have gained popularity, particularly among millennials. Metal, specifically aluminum and steel, is a key material in beverage can manufacturing.

Moreover, labeling, printing, and design innovations are essential for brand differentiation. Manufacturers strive for sustainable solutions, such as metal recycling, which is supported by the European Commission. The global market utilizes natural resources, with metal recycling reducing greenhouse gas emissions (GHGs) and carbon footprint. Hence, such factors are driving the market during the forecast period.

Major Market Challenge

Anticipated rise in steel prices during the forecast period is the major challenge that affects the growth of the market. The market, primarily comprised of carbonated soft drinks, beer, cider, and other beverages like cold brew coffee, fruit juices, frappes, and iced teas, is predominantly reliant on metal, specifically aluminum and steel, for its production. The global market for beverage cans is influenced by various factors, including labeling, printing, design innovations, and the decisions of key manufacturers.

The European Commission is also pushing for green initiatives, with a focus on reducing greenhouse gas (GHG) emissions from transportation and refrigeration. As a result, alternative packaging solutions, such as plastic products like PET and polyester, have gained popularity. The recycling rate of metal cans is high. Labeling, printing, and design innovations are also crucial aspects of the beverage can market, ensuring the structure and integrity of the cans while reducing carbon footprint and promoting recyclability. The global beverage can market is expected to grow, with key players focusing on raw material sourcing, sterilization, and retail operations. The metal recycling market is also expected to expand, providing opportunities for raw material producers. Hence, the above factors will impede the growth of the market during the forecast period

Customer Landscape

The beverage can market forecasting report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It highlights adoption rates across various regions, determined by penetration levels. Additionally, the beverage can market research and growth report outlines essential purchasing factors and factors influencing price sensitivity. This helps companies in assessing and formulating effective growth strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Ball Corp: The company offers aluminum beverage containers for carbonated soft drinks, beer, energy drinks, and other beverages in NA and CA.

The Beverage Can market research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Amcor Plc, Ardagh Group SA, BangkokCan Manufacturing Co. Ltd., Can One Berhad, CANPACK SA, CPMC Holdings Ltd., Crown Holdings Inc., Envases Ohringen GmbH, GZ Industries Ltd., Kian Joo Can Factory Bhd, Mahmood Saeed Co. Ltd., Mitsubishi Materials Corp., Nampak Ltd., ORG Technology Co. Ltd., Orora Ltd., Shengxing Group, Silgan Holdings Inc., Toyo Seikan Group Holdings Ltd., and Trivium Packaging B.V

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

In the beverage can market, aluminum cans have emerged as a popular choice for consumers due to their numerous benefits. Drinks produced in these containers, such as soda, water, and beer, offer extended shelf life and enhanced protection against light and oxygen. The use of these containers is also eco-friendly as they are recyclable and lightweight, making transportation and distribution more efficient. Furthermore, the production process for aluminum cans is cost effective and energy efficient, contributing to the overall profitability of beverage companies. The market is expected to grow significantly in the coming years, driven by increasing consumer preference for convenient, portable, and sustainable packaging solutions. The market is further fueled by advancements in technology, which enable the production of innovative designs and shapes for these containers. Overall, the market is a dynamic and evolving industry that continues to shape the way we consume and enjoy beverages.

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What are the Key Data Covered in this Beverage Can Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2028
• Precise estimation of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across APAC, North America, Europe, Middle East and Africa, and South America
• Thorough market report analysis of the market's competitive landscape and detailed information about companies
• Comprehensive market forecast analysis of factors that will challenge the growth of market companies

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