According to our latest market study on “Beverage Metal Cans Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material (Aluminum and Steel) and Application (Carbonated Soft Drinks, Alcoholic Drinks, Fruit and Vegetable Juices, and Others),” the 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 report highlights key factors driving the market growth and prominent players along with their developments in the market.
The beverage metal cans market is growing due to the increasing environmental regulations on the use of plastic packaging solutions. Beverage metal cans act as an eco-friendly substitute of plastic packaging. Beverage metal cans are used for nonalcoholic and alcoholic drinks. The nonalcoholic segment is still dominated by plastic packaging. On the other hand, the growing number of beverage manufacturers adopting innovative and diverse packaging solutions propels the demand for beverage metal cans. The packaging is increasingly used for energy drinks in the nonalcoholic drinks market. Energy drinks are commonly advertised as products that boost energy while also improving physical performance and mental alertness. Energy drinks are the most common dietary supplement consumed by American teenagers and young adults, whereas coffee is still consumed mainly by older people. Energy drinks have gained popularity among the younger generation by connecting themselves with their lifestyle.
The increase in energy drink sales comes despite concerns that the beverages contain too much caffeine and sugar. However, owing to recent innovations, manufacturers incorporate organic choices into their product lines, a move that might push energy drinks into the health category. Furthermore, there is a growing demand for immune-boosting beverages that are high in vitamins, minerals, and other essential ingredients. As a result, an increasing number of players have entered the market for functional energy drinks. Brands are attempting to capitalize on the "immunity-boosting" trend by integrating purported components or using the concept of immunity boosters in their marketing operations.
The demand for portable and efficient packaging solutions for beverages drives market expansion. The increased use of non-alcoholic beverages among health-conscious customers is predicted to stimulate demand for beverage cans. The introduction of sports drinks and fruit juices, as well as the rising consumption of Ready-to-Drink (RTD) products in can packaging, are likely to boost the market growth. With rising health consciousness among customers worldwide, beverage makers are upgrading and launching products with an emphasis on natural, low-calorie, and low-sugar ingredients like stevia. This is expected to increase the number of health-conscious customers.
Metal beverage cans are used to protect beverages from the outside environment, tampering, and support the product during transit or handling. Metal beverage cans aid in the constant distribution of beverages across the value chain, reducing manufacturing or transition losses. Metal packaging materials are used in the beverage sector for soft drinks, water, beer, dairy products, sports and energy drinks, ready-to-drink tea & coffee, alcoholic drinks, and other products.
The leading global beverage metal cans market players include Ball Corporation, Crown Holdings, Inc., Ardagh Group S.A., Canpack, Orora Packaging Australia Pty Ltd., Amcor plc., Silgan Containers LLC, GZI Industries Limited, Showa Denko K.K., and Envases Group. These players are focused on strategies such as research and development and new product development to increase the geographical presence and consumer base globally.
Impact of COVID-19 Pandemic on Beverage Metal Cans Market
The COVID-19 pandemic has negatively impacted the global beverage metal cans market size owing to the shutdown of manufacturing units, rising prices of raw material, shortage of labor, disruption of supply chains, and financial instability. Beverage metal cans are used by the food & beverages industry. The disruption of the industry due to economic slowdown caused by the COVID-19 outbreak had restrained the demand for beverage metal cans. 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 eased out the situation, leading to the rise in business activities across the world. The pandemic has also collaterally resulted in the growth of the food & beverages industry post recovery from the production disruptions. The increased production of numerous drinks and beverages has favored the market growth.
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