Beverage Cans Industry
The global beverage cans market size was estimated at USD 41.14 billion in 2023 and is expected to expand at a CAGR of 5.5% from 2024 to 2030. An increasing consumption of beverages such as carbonated soft drinks, beer, and cider on a global level is driving the demand for beverage cans. In addition, high recycling rate of aluminum cans and superior physical properties of metals over its alternatives is expected to drive the growth of beverage cans market during the forecast period.
Beverage cans offer exceptional convenience and portability, making them an attractive choice for on-the-go consumption. They are lightweight, easy to carry, and resealable, allowing consumers to enjoy their beverages at their convenience. This aspect is particularly appealing to urban populations with busy lifestyles and a preference for convenient packaging solutions. For instance, energy drink manufacturers have leveraged the portability of cans to cater to active consumers who demand readily available beverages during their workouts or outdoor activities.
Gather more insights about the market drivers, restrains and growth of the Global Beverage Cans market
Beverage Cans Market Segments:
Market Concentration & Characteristics
Prominent beverage cans companies operating in market include Mahmood Saeed Can and End Industry Company Limited (MSCANCO), Kian Joo Can Factory Berhad, SWAN Industries (Thailand) Company Limited, GZI Industries Limited, Toyo Seikan Co., Ltd., Ball Corporation, Orora Packaging Australia Pty. Ltd., Olayan Group, Crown Holdings, Inc., Bangkok Can Manufacturing, CPMC Holdings Limited, CANPACK, Nampak Ltd., Ardagh Group S.A., Envases Group.
Companies are increasingly pursuing diversification strategies, expanding their product and service offerings to capitalize on cost and revenue synergies. This approach often involves strategic initiatives such as mergers and acquisitions among companies operating in the beverage cans market.
Material Insights
Based on material, the global beverage cans market has been segmented into aluminum and steel. Aluminum is anticipated to dominate the overall market with a revenue market share of over 96.0% in 2023. The usage of aluminum as a raw material for packaging beverages has increased as it can be easily cooled and heated for sterilization, along with its property of maintaining the structure and integrity of packaged products.
Application Insights
Based on the application, the beverage cans market is segmented into carbonated soft drinks, alcoholic beverages, fruits & vegetable juices, and other applications. Alcoholic beverages application accounted for largest revenue share of over 38.0% in 2023. The high share is attributable to increasing demand for alcoholic beverages among millennials, a surge in disposable income, and a rise in consumer demand for premium/high-quality alcoholic beverage products.
Regional Insights
The beverage cans market in North Americaheld the largest revenue share of over 36.0% in 2023. This positive outlook can be attributed to the high consumption of canned beverages during the Major League Baseball games and other sports events in the region, owing to their ease of portability, is expected to augment the market growth over the forecast period.
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Key Beverage Cans Company Insights
The market consists of a significant number of companies producing beverage cans. Beverage Cans industry has been witnessing a significant number of new product developments and launches over the past few years in order to strengthen their market presence.
In January 2024, NOMOQ, a pioneer and leading provider of digitally printed cans in Europe, launched its Blank Cans Service for European drink brands. This new offering includes blank (undecorated) aluminum beverage cans, which expands NOMOQ's product range beyond its core business of digitally printed cans. This initiative is expected to provide greater flexibility and customization options for European drink brands, allowing them to create unique and personalized packaging solutions for their products.
In June 2023, Ball Corporation showcased its latest aluminum can and bottle portfolio at the BevNET Live Summer 2023 event. This showcase included new supply locations for 6.8 oz, 8.4 oz, and 250 mL can sizes, as well as their exclusive Alumi-Tek aluminum bottles. In addition, the company sponsored the BevNET Live Official Happy Hour during the event, encouraging attendees to explore the latest innovations in beverage packaging.
Key Beverage Cans Companies:
The following are the leading companies in theĀ Beverage Cans market. These companies collectively hold the largest market share and dictate industry trends.
Ball Corporation
Ardagh Group S.A.
Toyo Seikan Co., Ltd.
CPMC Holdings Limited
Orora Packaging Australia Pty. Ltd.
CANPACK
Crown Holdings, Inc.
Mahmood Saeed Can and End Industry Company Limited (MSCANCO)
Kian Joo Can Factory Berhad
SWAN Industries (Thailand) Company Limited
GZI Industries Limited
Olayan Group
Bangkok Can Manufacturing
Nampak Ltd.
Envases Group
Segments Covered in the Report
Grand View Research has segmented the global beverage cans market report on the basis of material, application, and region:
Beverage Cans Material Outlook (Revenue, USD Billion; Volume, Billion Units, 2018 - 2030)
Aluminum
Steel
Beverage Cans Application Outlook (Revenue, USD Billion; Volume, Billion Units, 2018 - 2030)
Carbonated Soft Drinks
Alcoholic Beverages
Fruits & Vegetable Juices
Other Applications
Beverage Cans Regional Outlook (Revenue, USD Billion; Volume, Billion Units, 2018 - 2030)
North America
US
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Russia
Belarus
Bulgaria
Czech Republic
Poland
Hungary
Asia Pacific
China
Japan
India
Australia
South Korea
Kazakhstan
Uzbekistan
Tajikistan
Central & South America
Brazil
Argentina
Peru
Chile
Colombia
Middle East & Africa
South Africa
Ghana
Nigeria
Kenya
Mauritius
Egypt
Iran
Kuwait
Israel
Saudi Arabia
UAE
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