From $92.03 million in 2020, the global Beer Cans market is projected to reach $142.31 million by 2028. Based on our analysis the market is expected to grow at a CAGR of 5.6% from 2020 - 2028 timeframe. Some of the prominent trends that the market is witnessing include, increase consumption of beer in countries such as India and China, a robust increase in distribution channels and government initiatives for reducing the usage of plastic and glass in alcohol packaging.
Global Beer Cans Market: Market Dynamics
Packaging has been the most basic factor, which has played a significant role in the widespread consumption of beer around the world. Beer is packaged in cans and glass for retail and commercial purposes.
Some of the other factors such as increasing R&D spending on looks & convenience of the products, recreational & environmental benefits, growing demand for BPA-free metal cans, and high demand and preference of metal packaging solution for craft beer are likely to drive the beer cans market.
For instance, according to the Institute of Food Technologists, steel cans & barrier polyester (PET) bottles contribute least to global warming. The production of Steel cans utilizes the least natural resources like non-renewable energy & water. From an environmental perspective, aluminum is a decent choice for beer packaging.
On the other hand, alternative packaging options and stringent rules against consuming alcoholics are likely to obstruct the profit boundaries. In addition, government initiatives for reducing the usage of plastic and glass in alcohol packaging will further boost the beer cans market.
Impact of COVID-19 on Beer Cans
Governments around the world have developed policies for responding to the various impacts caused by COVID-19 for avoiding supply chain disruptions, higher raw material prices, and severe economic fallout for employees. The challenges presented by the COVID-19 pandemic were tough on the brewing industry. However, many were able to take advantage of packaging innovations, find solutions to logistical limitations, and change state and local laws in order for them to get their product to the masses. Companies in different countries are coming up with innovative technologies that are friendly to the environment and protect the beverages from any kind of contamination with germs.
Aluminium Can segment Dominate the Market in 2020
The aluminium can segment made huge revenue in 2020 and growing its prominence during the forecast period as aluminum is a very ductile material and is the most preferred raw material used for packaging beverage products as it offers impermeability and high flexibility. It is a very cost-effective raw material used in the industry and can customize the packaging with colors, 3D prints, and embossing.
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific is likely to have a huge demand in the forecast period owing to changing cultural trends, the expanding population, lower production of fresh food & beverage products, growing urbanization, and the rising popularity of beer among the younger population.
List of the Key Players Profiled in the Market Include:
• Toyo Seikan Group Holdings Ltd • Silgan Containers • CPMC Holdings • Orora Packaging Australia • Nampak Bevcan • Metal Container Corporation • Kaufman Container • Crown Holdings • Daiwa Can Co • ORG Technology Co., Ltd • Can-Pack • Ball Corporation • Ardagh Group • Shenzhen Xin Yuheng Can Co., Ltd
List of the Regions/Countries Profiled in the Market Include:
North America • US • Canada • Mexico Europe • Germany • U.K • Italy • France • Spain • Rest of Europe Asia Pacific • China • Japan • India • Australia • New Zealand • Rest of Asia Pacific Middle East • Saudi Arabia • UAE • Rest of Middle East Latin America • Argentina • Brazil • Rest of Latin America Rest of the World (RoW) • South Africa • Others
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