Newly released data from beverage metal cans market analysis shows that global demand of the overall beverage metal cans market is forecasted to expand at a value compound annual growth rate (CAGR) of ~6.0% from 2021-2031 and reach millions of units by 2031.
In terms of growth, the beverage metal cans market is projected to witness a prominent sales growth rate by 2031, owing to the increasing consumption of alcoholic and non-alcoholic drinks and consumer’s awareness for sustainable and environmentally friendly products.
Beverage Metal Cans Market: Market Outlook
Metal packaging is recognized for its versatility, protective qualities, and environment-friendly credentials. The beverage cans are valued for their portability and convenience. A beverage can is a container made up of aluminium, steel, and tin metals to hold a fixed portion of liquid. It is also referred to as a drink can primarily for alcoholic drinks, soft drinks, fruit juices, herbal teas, and energy drinks.
The beverage metal cans were typically designed in a cylindrical shape having a flat top and bottom. They have a large printing area and showcase a 360-degree billboard for brands image, which is not feasible in any other packaging format. The beverage metal cans are lightweight, stackable, and robust by saving the raw material and economical for the manufacturer and the customers.
Metal cans are safe packaging as they act as a powerful barrier against light, air, and oxygen, keeping the drink fresh and tasty for a more extended period. The beverage can chill quickly, and a specific sound of cans opening is a unique indicator that the liquid inside the can is 100% fresh. Thus, the beverage metal cans market will have significant demand.
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What Are the Key Market Drivers Impacting the Growth of Beverage Metal Cans Market?
The beverage metal cans are durable, sturdy, and portable. Therefore, they are ideal for outdoor adventures, camping, extended events, and sports activities; as it has a minimal chance of leakage and tearing during transportation.
They have superior portability, as the cans take up less space, which allows denser shipping and is well accepted in all environments, and doesn’t shatter during transportation. The customers can carry and enjoy their favourite drink whenever and wherever they want, like in the offices, parties, concerts, and outdoor venues.
The customers have become more health-conscious and hygiene-oriented. Consumers highly prefer the single-use or one-time use metal can as it protects the beverages from light, air and retains the freshness, taste, and quality. They are entirely airtight; hence, the beverages can keep the oxygen out and carbonation in, allowing the beverages to stay fresh for an extended period.
The increasing consumption of alcoholic and non-alcoholic drinks such as beer and carbonated drinks, the growing popularity of beverage consumption will augment the growth of the beverage metal cans market.
What is the Key Trend Increasing Sales of Beverage Metal Cans Market?
Nowadays, with a competitive business scenario, creating brand loyalty, ensuring higher customer value, and inducing customers for repeat purchases drive higher revenue generation by significantly offsetting the cost of production. Hence, the beverage metal can manufacturers rely on innovation and customization to create a lasting brand image on the customer’s mind.
For instance, Crown Holding Inc. invented CrownSmart™, an innovative packaging that allows the brand owners to deliver a wide range of content and experiences via unique AR code beneath the tab of the beverage can. Crown developed CownSecure™, a scanning system that assigns a unique and singular identity quick response (QR) code for every package.
Additionally, by using advanced decorative techniques, making the beverage packaging extraordinary eye-catchy, superior with a variety of novelty finishes could attract the customer’s attention leading to brand engagement and awareness. Therefore, the creative, personalized printing capabilities with innovative designs help push the beverage cans brand beyond boundaries and create remarkable market growth.
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What are the Key Opportunities Shaping the Consumption of Beverage Metal Cans?
The beverage metal cans are the most sustainable packaging due to the significant environmental impact of recycling, increasing consumers’ preferences to use environmentally friendly packaging.
The beverage metal cans are made of aluminium, fully and infinitely recyclable with no wastage and loss of quality regardless of size, design, and shape. According to the Can Manufacturers Institute, recycled aluminium beverage cans could reduce energy and greenhouse gas emissions by 95%.
Also, aluminium beverage cans are the most sustainable packaging solution, as the metal can contain an average of 68% recycled content. Furthermore, recycling the beverage aluminium cans saves about 95% of energy to make aluminium cans from virgin materials. The used aluminium beverage cans recycled today can be back on the shelves in less than 60 days.
Therefore, the Government’s initiative to use recyclable and reusable products, the trend to use the most sustainable and eco-friendly products will generate a lucrative demand for the beverage metal cans market.
What are the Key Challenges that may Restrain Growth of the Beverage Metal Cans Market?
The lightweight beverage metal cans are an increasingly popular choice, but the aluminium is prone to crush damage and is susceptible to denting. Improper seal and pinhole damage are some of the common causes of metal cans damage. The rising demand and preference for flexible packaging over rigid packaging could lessen the demand for metal cans.
Also, the glass and plastic bottles are considered as the alternative packaging solution. The growing popularity of using plastic bottles for beverages due to lightweight and cost-effective benefits will obstruct the demand for beverage metal cans.
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Competitive Landscape
Key players such as
Ardagh Group S.A.
Crown Holdings Inc.
Can-Pack S.A.
Ball Corporation
Silgan Containers LLC
Nampak Ltd
and others
are actively involved in the beverage metal cans market for different applications.
Key Asian players such as Toyo Seikan Group Holdings Ltd., Can-One Berhad, Kaira Can Company Limited, Kian Joo Can Factory Berhad, Universal Can Corporation, Hindustan Tin Works Ltd., and others are actively involved in beverage metal cans market for different applications.
What Strategies are the Key Players Adopting for Increasing their Market Share in Beverage Metal Cans Market?
The manufacturers involved in manufacturing beverage metal cans adopt various strategies, such as focusing on innovation and sustainability to serve the increasing demand for the beverage metal cans market.
In March 2021, Ball Corporation and Damm, a beverage company in Spain, launched the world’s first certified beverage cans with aluminium stewardship initiative, which guarantees high environmental, social, and ethical standards for the whole life cycle of the company’s drink cans.
In December 2020, Ardagh Group S.A purchased a manufacturing plant in Ohio producing infinitely recyclable beverage cans and ends.
Why is the U.S. a Big Market for the Beverage Metal Cans Market?
The beverage metal cans find a considerable demand in beer and wine packaging and other beverages markets in the U.S. The growing consumer awareness to use green and environmentally sustainable products, increasing aluminium recycling rate, and reusability in the U.S. drive the beverage metal cans market.
The beverage metal cans experience significant growth in the U.S. due to various coating technologies used in manufacturing. The aluminium and steel materials are consistent with safe, reliable, and hygiene beverage packaging standards. The beverage metal cans are economical and convenient and prevent contamination.
Therefore, growing awareness towards healthy nutrition value, preference towards one-time-use products, the rising popularity of ordering ready-to-go beverages, and quick service delivery generate considerable demand in the U.S. market.
How has the COVID-19 Pandemic Impacted the Beverage Metal Cans Market?
The outbreak of Covid-19 has impacted differently for the demand for various metal packaging. The lockdowns and travel restrictions caused a surge in the market of beverages cans, as consumers tend to stock up on canned beverage products.
The rising awareness towards health and hygiene during pandemics resulted in consuming one-time-use or single-use beverage cans as the most reliable and safe packaging solutions. Due to social distancing, the ban on restaurants and bars has increased the home consumption of alcoholic and non-alcoholic beverage cans demand.
Hence, overall the beverage metal cans market observed an increase in demand during Covid-19 as an increasing trend of online ordering of alcoholic and non-alcoholic beverages. However, an increase in the need for beverage cans due to supply chain disruptions and domestic and international trade disruption has adversely affected the market.
Key Segments of Beverage Metal Cans Market Covered in the Report
