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Overview
The analysis of Market Research Future states that the global Beverage Cans Industry is slated to acquire a substantial market valuation by 2023, at a striking CAGR over the review period.
The global market for beverage cans is growing significantly, owing to the technological advancements taking place in the packaging industry, enabling market players to invest extensively towards integrating smart packaging solutions. The demand for portable beverage packaging along with superior properties of the cans including protection from the external environment is slated to emerge as the primary driving factors for the market growth. On the other hand, fluctuating raw material prices is expected to restrain overall industry growth in the forecast period.
Segmentation
The global beverage can market is segmented on the basis of materials and applications. The materials used to make beverage cans are aluminum and steel. The aluminum segment dominates the market and is expected to sustain its leading market share over the review period. This is attributed to its superior properties as compared to steel, such as lightweight, higher recycling rates with secure manufacture processing. Additionally, the steel segment is also expected to acquire a substantial growth rate over the review period. The applications
Regional Analysis
On the basis of regions, the global Beverage Cans Industry has been segmented as Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW). North America region leads the global Beverage Cans Industry. Growing demand for metal cans in the region is notably driving the growth of the market. Moreover, increasing concerns regarding the use and consumption of sustainable packaging materials are expected to drive the demand for market growth. The U.S., the most developed country in North America, accounts for the largest market share in North America. Rising consumption of processed & packaged food & beverage products in this region drive the growth of the market over the foreseeable future.
Europe is another primary market for beverage cans. Germany, the U.K., and France are the major markets in the region. Increased recycling activities are undertaken by the regulatory bodies, including the European Commission, and national governments of France, Germany, and the UK drive the growth of the market in the region. Furthermore, Europe is the hub of major non-alcoholic and alcoholic beverage manufacturers. This also has an encouraging influence on the growth of the market.
Asia Pacific is poised to grow at the highest CAGR during the forecast period. China, Australia, Japan, India, and Indonesia are the country-wise significant markets in the Asia Pacific region. An upsurge in purchasing power in the region fuels the growth of the market. Additionally, the availability of raw materials and lower labor cost, together are a positive impact on market growth. The young population, with momentous disposable income, will also drive the demand for beverage cans in the foreseeable future. China accounts for the largest share of the Beverage Cans Industry in the Asia Pacific region over the review period. Moreover, Latin America and Middle-East & Africa are also touted to observe positive growth over the forecast period owing to the growing consumption of alcoholic beverages in major markets such as South Africa, Brazil, & in the Middle East region.
Competitive Analysis
The major market players in the global Beverage Cans Industry comprises of Silgan Holdings Inc. (U.S.), BWAY Corporation (U.S.), Toyo Seikan Group Holdings, Ltd. (Japan), Kian Joo Can Factory Berhad (Malaysia), Orora Packaging Australia Pty Ltd (Australia), CPMC Holdings Ltd. (China), HUBER Packaging Group GmbH (Germany), Ball Corporation (U.S.), Crown Holdings Incorporated (U.S.), Ardagh Group (Luxembourg), and Can-Pack SA, (Poland).
Industry News
September 2019: California Cider Co., the company behind the popular Ace ciders, established a canning line in its Sebastopol production plant to launch its fast-selling Ace pineapple craft cider in aluminum cans.
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