Beverage Metal Cans Market Key Players and Forecast by 2028

The beverage metal cans market is projected to reach US$ 47,852.42 million by 2028 from US$ 34,363.14 million in 2022; it is expected to grow at a CAGR of 5.7% during 2022–2028.

The growth of the market is attributed to the rapidly growing environmental awareness across the globe. Therefore, various government regulations are implemented to substitute plastic packaging with metal or glass packaging, which is recyclable and environment friendly. The overall carbon footprint of the beverage metal cans is lower than plastic packaging as the raw material can be obtained from recycled materials and does not require virgin raw materials, unlike plastic. Moreover, the metal packaging is durable and considered to be safe for applications in the food & beverages industry.

In 2021, North America held the largest share of the global beverage metal cans market. However, Asia Pacific is estimated to register the highest CAGR in the market during the forecast period. The market in Asia Pacific is segmented into China, India, Japan, South Korea, and Australia. Countries, such as South Korea, China, and Japan, are among the major market for food and beverages. The region is also home to numerous manufacturers of food and beverages, who are growing due to increased domestic demand for packaged beverages. The rising production of beverages in Asia Pacific and increasing preference for recyclable packaging materials would contribute to the market growth in the region during the forecast period.

Beverage Metal Cans Market: Strategic Insights

Impact of COVID-19 Pandemic on Beverage Metal Cans Market

The COVID-19 pandemic had significantly disrupted the manufacturing sector in terms of operational efficiency owing to extended lockdowns across different regions; manufacturing unit shutdown; restrictions on travel, international trades, and supply chain; and shortage in the raw materials supply. The pandemic has negatively impacted the market owing to the shutdown of manufacturing units, rising prices of raw material, shortage of labor, disruption of supply chains, and financial instability. Moreover, the disruption of the food & beverages industry due to economic slowdown caused by the COVID-19 outbreak has hindered the growth of the market. However, businesses are gaining ground as previously imposed limitations are being eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries has further eased out the situation, leading to rise in business activities across the world. Furthermore, governments of different countries are planning to develop modern and technologically advanced infrastructure to mitigate the economic impacts of the pandemic. In the lockdown, consumers purchased high number of packaged foods and beverages instead of food service items. Thus, despite the negative impacts of the COVID-19 pandemic, the market for beverage metal cans is expected to gain a significant growth in the coming years.

Market Insights 
High Consumption of Carbonated Soft Drinks

Carbonated soft drinks are made to suit consumers' tastes and flavor preferences, and these products have recently been created to serve as functional beverages for health-conscious consumers. Carbonated soft drinks have grown in popularity among consumers due to the continuous launch of new flavors by manufacturers. The increased demand for clean-label, gluten-free, low-calorie, and low-carb goods has increased the demand for carbonated soft drinks. Metal cans are widely used as a packaging material for carbonated soft drinks.

Consumers expect freshly launched soft drinks to be free of long-term health-damaging ingredients and to promote physical and mental fitness through carefully selected ingredients. Low-sugar soft drinks and products with stress-relieving effects are anticipated to remain popular among consumers. The trend of healthy beverages has grown in popularity as the functional beverage industry has expanded and customers' health consciousness has increased. The easy availability of low or zero-calorie beverages in the market, such as at Walmart and convenience stores, has propelled the consumption of carbonated soft drinks. Thus, the increased demand and consumption of carbonated soft drinks drive the beverage metal cans market growth.

Application Insights

Based on application, the global beverage metal cans market is segmented into carbonated soft drinks, alcoholic drinks, fruit and vegetable juices, and others. In 2021, the alcoholic drinks segment accounted for the largest market share. Alcoholic drinks are fermented from the sugars in berries, fruits, grains, and other components such as plant saps, tubers, honey, and milk. They can be distilled to transform the original watery liquid into a liquid with considerably higher alcoholic strength. Further, the increased demand for portable containers propels the growth of the alcoholic drinks segment. Because of changing work habits of consumers worldwide, the market for canned alcoholic beverages is likely to grow. Canning helps to keep the fiber content in beverages, improving the shelf-life without compromising quality, making it a go-to option for beverage manufacturers producing drinks with soft-functional advantages.

Ball Corporation; Crown Holdings, Inc.; Ardagh Group S.A.; CANPACK; Orora Packaging Australia Pty Ltd; Amcor plc; Silgan Containers LLC; ZI Industries Limited; SHOWA DENKO K.K.; and Envases Group are among the players operating in the beverage metal cans market. These companies provide a wide range of product portfolio for the market. The companies have their presence in the developing regions, which provides lucrative opportunities for the beverage metal cans market growth. The market players are developing high-quality and innovative products to meet the customer’s requirements.

The regional trends and factors influencing the Beverage Metal Cans Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Beverage Metal Cans Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Beverage Metal Cans Market Report Scope

Beverage Metal Cans Market Players Density: Understanding Its Impact on Business Dynamics

The Beverage Metal Cans Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Report Spotlights

• Progressive industry trends in the beverage metal cans market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the beverage metal cans market from 2019 to 2028
• Estimation of global demand for beverage metal cans
• Porter’s five forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the growth of the beverage metal cans market
• Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the beverage metal cans market size at various nodes
• Detailed overview and segmentation of the market, as well as the beverage metal cans industry dynamics
• Size of the beverage metal cans market in various regions with promising growth opportunities

The "Global Beverage Metal Cans Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry with a special focus on the global beverage metal cans market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The beverage metal cans market is segmented on the basis of material, application, and geography. By material, the market is segmented into aluminum and steel. By application, the beverage metal cans market is segmented into carbonated soft drinks, alcoholic drinks, fruit and vegetable juices, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America.

Company Profiles

• Ball Corporation
• Crown Holdings, Inc.
• Ardagh Group S.A.
• CANPACK
• Orora Packaging Australia Pty Ltd
• Amcor plc
• Silgan Containers LLC
• ZI Industries Limited
• SHOWA DENKO K.K.
• Envases Group