Beverage manufacturers switching to aluminum cans from plastic bottles is anticipated to drive the Beverage Cans Market during the forecast period 2019-2025. Beverage Cans Market size is estimated to be $43.64 billion in 2019 and is projected to be growing at CAGR of 4.2% during the forecast period 2020-2025.
The Beverage Cans market is growing at a significant rate as the beverage companies are switching from plastic bottles to cans for sale of beverages. This is owing to the growing environmental concerns and rising consumer preference of products that are using sustainable packaging.
Aluminum cans do not cause ocean pollution like plastic does. Also, they can be recycled multiple times. Danone S.A. has started to replace some plastic bottles with aluminium cans for its water brands. Multinational companies such as Coca-Cola Co, PepsiCo and Nestle are also launching canned versions of their beverages. Recycling aluminum also saves about 90% of energy that it takes for making aluminum newly.
Americas holds a major share of Beverage Cans Market owing to an increase in consumer preference of sustainable packaging and rise in consumption of beverages in this region. Increasing consumption of flavored drinks in North America and Latin America is set to drive the market growth in the forecast period 2020-2025. There is also a rising demand for carbonated soft drinks that is to contribute further to the growth of the market in this region.
The increased recyclability of aluminum, rising consumption of energy & sports drinks, environmental concerns of consumers, as well as the structural and functional properties of metals in beverage cans are the other major factors driving the market growth.
Rise in global awareness for health, wellness and sustainability, has proven an opportunity for the beverage market with a growing consumer preference for alternative, more natural options. Hence, the key market players are set to explore the opportunities for the designs, economic considerations and various manufacturing trends in accordance with the customer demand in the upcoming years. RTD teas and coffees provide an opportunity for these beverage cans manufacturers as there is set to be a rise in demand for canned RTD tea and coffee in upcoming years, owing to innovation and better product launches catering to healthy lifestyle of consumers.
Since the market for RTDs is now broader than ever, ranging from iced coffees and teas, to kefir yoghurt drinks to canned wines and cocktails, the opportunities for canned RTDs are set to aid the market growth during the forecast period 2020-2025.
Smart technologies are to provide opportunity for the beverage cans manufacturing, tracing products at every aspect of the supply chain, and marketing products for an increasingly favorable consumer base. Also, various technical innovations and research and developments for a more economical. Smart sensors for manufacturing and packaging lines can make it easier to fasten beverage cans production and offer various range of sizes and shapes.
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Beverage Cans Market Growth Drivers:
- Recyclability and Weight Advantage of Aluminum Beverage Cans:
Major aluminum processing companies rely on trash cans for manufacturing recycled cans. This helps in continuing an eco-friendly market process amidst environmental concerns. Consumers too rely on cans because of their recyclable nature. As the most popular product in the bin, aluminum cans are by far the most recycled containers for beverage. Aluminum cans are lightweight and easy to stack. This ensures efficiencies in storage and shipping and reduces total carbon emissions from transport across logistics and supply chains.
- Easier manufacturing process of Beverage Cans:
The manufacturing process of beverage cans consists of cutting, redrawing the cup, trimming, cleaning and decorating, making lead and filling and seaming. It is easy of its own kind, as the manufacturing processes of can alternatives are usually longer and more resources and money consuming. The typical aluminum can weighs less than half an ounce, yet its thin walls withstand more than 90 pounds of pressure per square inch exerted by the carbon dioxide in beer and soft drinks. In the face of this rising demand, the future of the beverage can seems to lie in designs that save money and materials. The trend towards smaller lids is already apparent, as well as smaller neck diameters, but other changes may not be so obvious to the consumer.
Major players in the beverage market are investing in innovative technologies and enhancing their products using the technology acquired. An instance of this is Crown Holdings Inc., which acquired the two-piece aluminum can manufacturer Mivisa Envases SAU, to provide and develop better customer based products, and expand its global market.
Technology advances for beverage packaging by companies and the adoption of smart product designs are to attract the consumers. Companies tend to spend more on packaging innovation rather than on their production cost. They are also using active packaging and intelligent packaging technologies to improve the performance of the beverage packaging. Beverage can body, ends and tabs are printed with thermochromic and photochromic inks to increase consumer interaction. Also, the companies are launching more beverage cans in slim and sleek bodies to cater to the consumer demand for smaller quantity to maintain health and also to the ease of travel sized cans.
The Major Players in this Market Include
The major companies in the Beverage Cans market include Ball Corporation, ARDAGH Group, CanPack SA, CPMC Holding, Crown Holding Inc., Amcor limited, Kian Joo Can Factory Berhad, Showa Denko KK, Nampak Bevcan Limited, Toyo Seikan Company Ltd. and others.
Over the years, manufacturers in this market are involved into the production of more effective beverage cans products depending upon the application. At the same time, new manufacturers are coming up with new products and other based on different structure & fabrication resulting in increase in the degree of competition in this market. Consequently, product launches, mergers and acquisitions, partnerships by companies as well as geographic expansions are set to boost the Beverage Cans Market during 2020-2025.
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