Beverage Cans Market 2022-2030: Rising Demand For Airtight Beverage Cans And Lightweight Can Materials
The global Beverage Cans Market size is expected to reach USD 36.76 Billion in 2030 and register a revenue CAGR of 5.6% over the forecast period, according to a latest report by Reports and Data. Rising demand for alcoholic drinks and carbonated soft drinks and increasing adoption of environment friendly can materials are expected to drive market revenue growth during the forecast period.
However, factors such as concerns regarding high cost of raw materials could hamper the revenue growth of the market during the forecast period. Cost of materials such as aluminum, steel, and others used in manufacturing of cans for beverages is higher than the glass bottles. This could lead to high cost of beverages in cans compared to beverages in glass bottles, which could restrain the market growth. Additionally, glass bottles are always cleaned and reused, but the cans are thrown and recycled which leads to high cost, is another factor expected to limit the adoption of beverage cans.
Rapid implementation of advanced technology for smart packaging of beverages is expected to boost the growth of beverage cans market in near future. Currently, most beverage can manufacturers are using Augmented Reality (AR) packaging which allows brand owners to create unique smart packaging that provides a wide range of content and experiences using AR code which has led to increasing demand for reality packaging of beverage cans.
Increasing demand for customized AR smart packaging among consumers which allows creating their own AR experience without using codes or app-set is another factor expected to augment the growth of the market over the forecast period. Increasing usage of intelligent packaging technologies such as Modified Atmospheric Packaging (MAP) by manufacturers to minimize product wastage and improve the safety and quality of product is expected to increase demand for beverage cans and drive the revenue growth of the market.
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The research report offers details about leading companies in the global Beverage Cans market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Some of the Leading Market Players Are Listed Below:
- Ball Corporation
- Ardagh Group
- Crown Holdings, Inc.
- Amcor Plc
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Beverage Cans Market Segmentation based on Types:
Beverage Cans Market Segmentation based on Application:
- Non-Alcoholic Beverage
- Alcoholic Beverage
- Sports & Energy Drinks
- Fruit Based Drinks
For comprehensive coverage, the report discusses growth prospects, opportunities, and challenges. The market report considers various key factors across the leading regions.
Beverage Cans Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
Key Features of the global Beverage Cans Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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