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Global Canned Beverages Market Size was valued at USD 35.2 Billion in 2022. The Canned Beverages market Type is projected to grow from USD 37.2 Billion in 2023 to USD 56.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.60% during the forecast period (2023 - 2032). Increasing consumption of carbonated beverages such soft drinks, beer, and cider as well as plastic substitutes because of environmental concerns, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The business is expected to grow as a result of increased consumption of beverages such carbonated soft drinks, beer, and cider. There will likely be a rise in demand for alternative packaging choices as a result of the expanding prohibition on plastic items brought on by environmental concerns, which will be advantageous for the market's growth. Aluminum and steel's great malleability, the ease with which labels and prints may be applied to the metal surface, and design enhancements that appeal to young people are only a few of the physical characteristics of metal that make it superior to its alternatives. The benefits of beverage cans for both manufacturers and consumers are promoting market growth. As a result, companies are making goods that meet customer needs. For instance, in March 2021, the Hungarian vineyard Font Pincészet collaborated with the beverage container producer CANPACK to launch their FONT SECCO white and rose wines. They employed matte-finished, distinctively designed cans, which allowed for more individualized marking and eventually increased customer interaction.
The increased recycling of used beverage cans is expected to result in significant growth for the global industry. Metal recycling for reuse has increased as a result of the need for the best possible use of natural resources. Government agencies, such the European Commission and the US government, which have enforced the exchange of used cans, have largely backed the recycling of metals. The municipal recycling initiatives launched in a number of nations, including the U.S., Italy, Brazil, Indonesia, and the U.K., are also anticipated to help the metal recycling industry.
The International Aluminium Institute claims that because of the economic worth of aluminum as scrap and its ongoing recycling potential, aluminum beverage cans are the most often recycled container worldwide. The average global recycling rate for these cans is 60%, and some nations have recycling rates that are higher than 90%. Thus, driving the Canned Beverages market revenue.
The global Canned Beverages market segmentation, based on Type, includes alcoholic beverages and non-alcoholic beverages. The non-alcoholic beverages segment held the largest share in the global canned beverages market. This segment is primarily utilized for packaging carbonated soft drinks that contain carbonated water, sweeteners, colors, and preservatives. Compared to glass bottles sealed with crown corks, packaging these beverages in cans prevents the deterioration of taste and texture. Such deterioration is typically caused by the loss of carbonation and acidification of key flavoring agents.
The global Canned Beverages market segmentation, based on Distribution Channel, includes store-based and non-store based. The store-based component is later subdivided into a few categories, including convenience stores, hypermarkets/supermarkets, and others. The store-based category is dominating the market share for the product presentation, festival offers, selecting products using our senses, such as scents and soaps, & the ideal size for the products we need, as well as samples being offered.
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Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. In 2022, North America held the biggest market share and controlled the world market for canned beverages. Additionally, the market in this sector is growing as more Americans are consuming canned beer. The North American Canned Beverages market has witnessed continuous product developments for metal beverage cans thanks to major firms like Ball Corporation, Crown Holdings, Inc., and Envases Group keeping their manufacturing facilities and distribution hubs in the region. Further, In the North American area, the U.S. Canned Beverages market had the biggest market share, while the Canada Canned Beverages market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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During the anticipated timeframe, a respectable growth rate is anticipated for the European canned beverage market. As a result of rising environmental consciousness, beverage companies in Europe are selecting environmentally friendly packaging options. Metal cans are a fantastic ecological packaging option due to their high recycling content. The European Union's efforts to create a circular economy will boost demand for metal cans. Further, In the European region, the German Canned Beverages market had the biggest market share, and the U.K. Canned Beverages market had the quickest rate of growth.
The market for canned beverages in Asia Pacific is anticipated to develop at the quickest rate during the forecast period. one of the top areas for the use of carbonated drinks, both alcoholic and non-alcoholic. The rising millennial generation is expected to promote the fastest development of the local industry by generating demand for specialized packaging with high visual appeal. The two biggest economies in the area, China and India, also significantly influence the growth of the local market. Further, In the Asia-Pacific region, the Indian Canned Beverages market had the quickest rate of growth while China's Canned Beverages market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Canned Beverages market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Canned Beverages sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Canned Beverages industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Canned Beverages sector. Major players in the Canned Beverages market, including PepsiCo, The Coca-Cola Company, Keurig Dr Pepper Inc., RED BULL, Del Monte Fresh, J. Gallo Winery, The Boston Beer Company, Precept Wine, The Family Coppola, and Left Hand Brewing Co., are attempting to increase market demand by investing in research and development operations.
Crown Holdings Inc. (Crown) offers packaging solutions. Designing, producing, and distributing consumer metal packaging items are handled by it. The company's product line includes glass bottles, beverage cans, food cans and closures, aerosol cans, custom packaging items, and transportation packaging. Additionally, it provides commercial products like paper-based protective packaging, steel and plastic straps, and consumable plastic film. It provides services to a range of markets, including those for food, beverages, industrial goods, personal care items, luxury goods, metals, promotional products, and home goods. Crown conducts business through its manufacturing plants and sales service offices located in the Americas, Europe, the Middle East, and Asia-Pacific. Crown is based in Yardley, Pennsylvania, in the United States. In Kentucky, a brand-new beverage can facility is being built by the renowned vendor Crown Holdings Inc. building got underway in January 2021. As a result of this growth, North American consumers will increasingly need beverage cans for items like energy drinks, craft beer, cocktails, sparkling water, and cocktails.
Ball Corp (Ball) is a supplier of metal packaging solutions. Steel, aluminum, general, and aerosol containers are among the metal packaging products it makes for the beverage, personal care, automotive, paint, healthcare, food, and household products industries. The business creates cutting-edge aerospace systems and related technologies for both government and commercial clients, including instruments and sensors, spacecraft and space science, electronic warfare, aerospace technology and components, radio frequency systems and components, antennas and microwave systems, and data exploitation solutions. The company also provides engineering and technical services. The Middle East, Africa, Asia Pacific, the Americas, and Europe are all regions where it conducts business. Ball's home base is in Westminster, Colorado, in the United States. In order to provide greater sustainability in sports and entertainment through the usage of aluminum beverage containers, one of the major companies, Ball Corporation, teamed up with Kroenke Sports & Entertainment in October 2020.
· PepsiCo
· The Coca-Cola Company
· Keurig Dr Pepper Inc.
· RED BULL
· Del Monte Fresh
· J. Gallo Winery
· The Boston Beer Company
· Precept Wine
· The Family Coppola
· Left Hand Brewing Co.
May 2021: Ardagh Group S.A., situated in Forsyth County, North Carolina, pledged USD 195.0 million to expand its metal beverage can manufacturing facility. Through the addition of two new high-speed can manufacturing lines and additional building improvements, the investment is expected to be used to increase the facility's production capacity.
May 2021: CANPACK planned to erect a second state-of-the-art factory in the US for the manufacture of aluminum beverage can bodies.
March 2021: Ball Corporation and Damm introduced the first beverage cans that met the requirements of the Chain of Custody Standard and the Aluminium Stewardship Initiative (ASI). Cans for Damm's are supplied by Ball Corporation. The certification includes design, packaging, and storage of completed goods, waste management, the recovery of waste, including waste from packaging used by the final consumer, as well as the packaging, storage, and handling of beer in cans and related processes.
· Alcoholic Beverages
· Non Alcoholic Beverages
· Store Based
· Non Store Based
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 35.2 Billion |
|
Market Size 2023 |
USD 37.2 Billion |
|
Market Size 2032 |
USD 56.6 Billion |
|
Compound Annual Growth Rate (CAGR) |
5.60% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Distribution Channel, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
PepsiCo, The Coca-Cola Company, Keurig Dr Pepper Inc., RED BULL, Del Monte Fresh, J. Gallo Winery, The Boston Beer Company, Precept Wine, The Family Coppola, and Left Hand Brewing Co. |
|
Key Market Opportunities |
Increasing ban on plastic products owing to sustainability concerns |
|
Key Market Dynamics |
The increasing consumption of beverages such as carbonated soft drinks, beer, and cider and increasing ban on plastic products owing to sustainability concerns |
The global Canned Beverages market size was valued at USD 35.2 Billion in 2022.
The global market is projected to grow at a CAGR of 5.60% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are PepsiCo, The Coca-Cola Company, Keurig Dr Pepper Inc., RED BULL, Del Monte Fresh, J. Gallo Winery, The Boston Beer Company, Precept Wine, The Family Coppola, and Left Hand Brewing Co.
The Non Alcoholic Beverages Type dominated the market in 2022.
The store based Distribution Channel had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65275
Published on :
Sep 2023
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