According to Fortune Business Insights, The global beverage cans market is experiencing significant growth due to the rising consumption of beverages, growing awareness about sustainable packaging, and increased demand for ready-to-drink (RTD) products. The market was valued at USD 25.31 billion in 2019 and is projected to reach USD 36.59 billion by 2027, exhibiting a CAGR of 4.7% during the forecast period.
Metal cans, especially aluminium, are increasingly favored for their lightweight, recyclability, and long shelf life, making them the preferred choice for both alcoholic and non-alcoholic beverage packaging. Beverage cans are metal containers designed to store specific quantities of drinks, including alcoholic beverages, carbonated drinks, fruit juices, tea, and energy drinks. These cans are primarily produced from aluminum or steel, offering excellent recyclability and sustainability. Their growing popularity among beverage producers is driven by their eco-friendly nature and ability to be recycled repeatedly without losing quality.
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Market Dynamics
Key Growth Drivers
Sustainability and Recyclability:
Aluminium beverage cans are infinitely recyclable without losing quality, making them a preferred eco-friendly packaging choice.Rising Beverage Consumption:
Rapid urbanization, changing lifestyles, and increasing disposable incomes have boosted global consumption of carbonated drinks, juices, and alcoholic beverages.Growing Ready-to-Drink Segment:
The popularity of portable and on-the-go beverages is accelerating the demand for beverage cans across both developed and emerging economies.Innovations in Packaging:
Manufacturers are focusing on premium finishes, interactive labelling, and lightweight designs to enhance consumer appeal and brand differentiation.
Market Restraints
Competition from PET and Glass Bottles: Plastic and glass containers offer cost and flexibility advantages, posing challenges for can manufacturers.
High Energy Costs: Producing metal cans requires substantial energy, impacting production costs.
Raw Material Supply Issues: Fluctuations in aluminium and steel supply chains can disrupt production and affect profit margins.
Segmentation Insights
By Product Type:
Aluminium Cans: Expected to record the highest growth rate due to recyclability and lightweight nature.
Steel Cans: Used primarily in certain beverage segments requiring added strength and durability.
By Application:
Carbonated Soft Drinks: The largest segment, driven by global demand for flavored and fizzy beverages.
Alcoholic Beverages: Rising consumption of beer, hard seltzers, and cocktails in cans is expanding this segment.
Juices and Others: Growing health-conscious trends are supporting juice and energy drink can packaging.
Regional Analysis
North America:
Dominates the global market with the highest share due to strong demand for canned soft drinks and beer, along with advanced recycling systems.Asia Pacific:
Expected to register the fastest growth rate owing to increasing beverage consumption, rapid urbanization, and expanding manufacturing capacities in countries like China and India.Europe:
Strong emphasis on sustainability and circular economy initiatives is driving demand for metal-based beverage packaging.South America and the Middle East:
Emerging markets witnessing growing urban populations and changing lifestyle preferences that favor packaged beverages.
Key Industry Players
Leading companies are focusing on expanding production capacity, launching sustainable can solutions, and forming strategic mergers to strengthen their global presence.
Major players include:
Ball Corporation (U.S.)
Orora Packaging Australia Pty Ltd (Australia)
Crown Holdings, Inc. (U.S.)
Ardagh Group S.A. (Ireland)
CANPACK S.A. (Poland)
GZ Industries Ltd. (Nigeria)
CPMC Holdings Ltd. (China)
MSCANCO (Saudi Arabia)
Pakistan Aluminum Beverage Cans Limited (PABC Ltd.) (Pakistan)
Ceylon Beverage Can (Pvt) Ltd. (Sri Lanka)
Universal Can Corporation (U.S.)
Techpack Solutions (China)
Baosteel Metal Co., Ltd. (China)
Recent developments include new aluminium can manufacturing facilities, innovations in eco-friendly coatings, and collaborations with beverage brands to reduce carbon footprints.
KEY INDUSTRY DEVELOPMENTS:
In July 2021, Ball Corporation planned to build new aluminum beverage packaging plants in the UK & Russia. Each facility would start producing billions of cans annually from 2023. This expansion will allow the company to efficiently serve its end users involved in the production of wines, hard seltzers, pure and enhanced water brands, and ready-to-drink cocktails in the UK and beer and energy drinks in Russia.
In May 2021, CANPACK planned to construct a second state-of-the-art plant for aluminum beverage can body manufacturing in the U.S. This plant is expected to commence operations by the end of 2022 and will help the company to better serve domestic customers.
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Future Outlook
The beverage cans market is set for strong expansion as sustainability becomes a core purchasing factor. Manufacturers are investing in circular economy initiatives and lightweight materials to meet consumer and regulatory demands. With aluminium cans leading growth and emerging regions providing new opportunities, the industry is poised for consistent upward momentum through 2032.
Trending FAQs on the Beverage Cans Market
1. What is the current size of the global beverage cans market?
The global beverage cans market was valued at around USD 25.31 billion in 2019 and is projected to reach approximately USD 36.59 billion by 2027.
2. What is the growth rate of the beverage cans market?
The market is projected to grow at a compound annual growth rate (CAGR) of about 4.7% during 2020–2027.
3. Which product type is growing the fastest?
Aluminium cans are expected to register the highest growth due to their recyclability and sustainability advantages.
4. Which beverage type dominates the market?
Carbonated soft drinks hold the largest share in the global beverage cans market, followed by alcoholic beverages.
5. Which region leads the global beverage cans market?
North America currently dominates the market, while Asia Pacific is anticipated to record the fastest growth during the forecast period.