Canned beverages market Overview
The global market size for canned beverages was projected at USD 35.72 billion in 2020 and is valued to expand at a compound annual growth rate of 5.10% from 2020 to 2028. The ultimatum for highly portable and superior packaging solutions for prevention from the external environment is mainly coming up with market growth. The ultimatum for canned beverages is projected to be fueled by the increasing consumption of non-alcoholic, health-conscious customers.
However, the introduction of fruit juices and sports drinks combined with the increasing consumption of ready-to-drink products in can packaging is valued to benefit the canned beverage market. The USA is the biggest market for beverage cans with the largest per capita can consumption in the globe.
The global canned beverages market has observed uninterrupted product innovations due to the strong presence of primary companies in the UAS, such as Ball Corp. The supercilious physical characteristics of metals over their counterparts are also calculated to boost the market growth during the anticipated period. These properties include high malleability, easy labeling and printing on metal surfaces, and design.
With the growing health consciousness among the customers globally, beverage manufacturers are also developing and innovating products with a focus on natural, and low sugar ingredients, such as stevia, in their products. This is aimed to attract a grown number of health-conscious consumers.
Key Players
Some of the key players in the global canned Beverages market manufacturers are PepsiCo (US), The Coca-Cola Company (US), Keurig Dr Pepper Inc. (US), RED BULL (Austria), Del Monte Fresh (US), E. J. Gallo Winery (US), The Boston Beer Company (US), Left Hand Brewing Co. (US), Precept Wine (US), and The Family Coppola (US).
Segmentation
The global canned beverages market report is segmented on the basis of material type, which includes aluminum, steel, and PET. Based on beverage type, the market is classified as alcoholic beverages, non-alcoholic beverages, and water. Further, the market has been segmented into structures, such as 2-piece cans and 3-piece cans.
Non-alcoholic beverages are mainly composed of carbonated soft drinks with carbonated water, vapor, color, and preservatives. Non-alcoholic energy or sports drinks contain carbohydrates in the form of sugar, proteins, vitamins, electrolytes, and caffeine and are now being largely consumed.
Regional classification
On the basis of region, the canned beverages market trends has been classified into North America, Europe, South America, Asia Pacific, and the rest of the world. Countries like Canada and Mexico come under the region of North America. India, China, Japan, South Korea, and Thailand are some of the nations that fall under the regional territory of the Asia Pacific.
The Asia Pacific is one of the `coming out" regions for the global canned beverages market. Countries such as China and India are considered for the purpose of the study. Hence, the growth of the market is projected to be high in this region.
Industry news
Major companies are entering the Asia Pacific region by developing new manufacturing plants. This has led to an increase in the canned beverage market across the world. Urbanization, high industrial growth, high expendable income, and lower production of fresh foods and beverage products are boosting the growth of processed food and beverage products, constantly driving the ultimatum for beverage cans in this segment. The main players in this market include Crown Holdings Inc. and Ardagh group SA.
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