Global Beverage Cans Market Report and Forecast 2024-2032

Beverage Cans Market Size

The global beverage cans market size reached a value of USD 40.46 billion in 2023. During the forecast period of between 2024 and 2032, the market is expected to grow at a CAGR of 5.30% to reach a value of around USD 64.41 billion by 2032.

Key Trends in the Market

Metal containers called beverage cans are designed to accommodate a fixed single serving of a beverage. These cans are constructed of aluminium or steel that has been tin-plated. Aluminium is frequently used to make beverage cans because it is environmentally friendly and can be recycled easily without losing any of its strength or quality. 

• The demand for effective packaging solutions that are portable and protect from the outside environment is the driving the beverage cans market expansion.

• Increasing household incomes, customer demand for higher safety and quality, and increased awareness of maintaining healthy diets are encouraging the demand for beverage cans.

• Consumers who are concerned about their health are predicted to consume more non-alcoholic products, which will increase the market for beverage cans. Additionally, the introduction of fruit juices and sports drinks together with rising demand for Ready-to-Drink (RTD) items packaged in cans are anticipated to support the market growth for beverage cans.

• Beverage cans are a preferred choice for activities like camping, hiking, and other outdoor experiences because they are portable, strong, and pose little chance of accidental shattering. They are suited for athletic events, concerts, and stadiums where glass bottles are not permitted.

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Beverage Cans Market Analysis

Based on product, the market is divided into steel and aluminium. The market on the basis of application is categorised into alcoholic beverages, carbonated drinks, and fruit and vegetable juices, among others. The regional markets for beverage cans can be classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global beverage cans market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

• Ball Corporation

• Crown Holdings, Inc.

• GZI Industries Limited

• CPMC Holdings Limited

• Ardagh Group S.A

• Nampak Ltd.

• Ceylon Beverage Can (Pvt) Ltd

• Others

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Market Share by Product

The aluminium segment is currently dominating the beverage cans market as it gives packaged beverages a longer shelf life, and is recyclable. The most recycled beverage containers globally are aluminium cans. The material also preserves the structure and integrity of packaged goods and can easily be sterilised. Lightweight and stackable, they increase shipping and storage efficiency.

Aluminium cans are being used more frequently as a result of rising worldwide beverage consumption as well as a surge in demand for sustainable packaging options. These cans are also aesthetically pleasing because they can be customised with different colours, 3D prints, and embossing.

Steel has a relatively strong heat conductivity, which enables cans to cool down quickly after sterilisation. However, aluminium’s excellent ductility and recyclability, low weight, versatility in printing, and lower potential for toxicity than steel have, nonetheless, attracted manufacturers to the increased use of aluminium material for beverage can production.

Market Share by Region

North America is anticipated to dominate the global beverage cans market due to the high consumption of beverage cans in countries such as the United States. Consumers' high product uptake, rising per-person carbonated beverage consumption, and regional awareness of sustainability are supporting the growth of the market in the region. Growing health concern of consumers have resulted in a significant demand for wholesome and nutritious beverages in the United States, thus propelling the market growth.

Additionally, restrictions on plastic packaging in nations like the United States and Canada may impede the expansion of plastic packaging in the area, resulting in improved demand for beverage cans. In the Asia Pacific increased disposable income in developing nations like India and China, is increasing the demand for beverages, and correspondingly beverage cans.

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Competitive Landscape of Beverage Cans Industry

Ball Corporation based in Colorado, United States offers cutting-edge, environmentally friendly aluminium packaging options for manufacturers of household beverages and goods, and personal care items. The company also offers aerospace and other technologies and services to government and commercial clients. The business, which was founded in 1880, has more than 21,500 employees globally. 

Crown Holdings, Inc., formerly known as Crown Cork & Seal Company, is an American corporation that produces metal cans for food and beverages, metal closures, metal aerosol containers, and speciality packing. 

GZI Industries Limited, established in 2006, is a renowned manufacturer and maker of superior quality aluminium beverage cans. The company stays operationally effective, inventive, and sustainable by utilising best-in-class production methods and the most recent high-speed beverage lines, giving customers the greatest possible value and service. 

Other market players include CPMC Holdings Limited, Ardagh Group S.A, Nampak Ltd., and Ceylon Beverage Can (Pvt) Ltd, among others.

Key Highlights of the Report