Global Beverage Cans Market to grow at 3.3%, emerging markets to lead growth: The Global Beverage Cans Market is anticipated to be driven by growing demand for packaged beverages and rising consumerism, according to our research report.
“Global Beverage Cans Market Outlook 2024”
The global beverage can market is segmented by material into aluminum, tin and steel. Among these, aluminum commands the highest demand owing to its excellent physical properties and increase in production levels. The market of beverage can accounted for USD 61 billion by 2024 and further the market is predicted to register a modest CAGR over the forecast period i.e. 2016-2024.
The North American region accounts for the largest market share, owing to high incomes and consumerism in the region. However, emerging markets like Asia Pacific are expected to witness the highest growth and hence are the most opportunistic regions.
Rising demand of Packaged Beverages: Major Boost
Globally there has been a rise in the demand for packaged beverages due to rising disposable incomes, consumerism and lifestyles necessitating packaged consumables. This has given a major boost to the beverage cans market. Rising health consciousness has bolstered demand for health and energy drinks, translating into growth in demand for beverage cans. Excellent properties of metal cans leading to increased utility for consumers and marketing opportunity for beverage companies further add to the popularity of beverage cans, propelling growth in the market. Recyclability of metal cans is another factor adding to demand. However, government regulations in terms of manufacturing processes and materials, as well as taxation policies act as hindrances to market growth.
“Global Beverage Cans Market Outlook 2024” contains detailed overview of the global beverage cans market in terms of market segmentation by material, can type and application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also provides competitive outlook of some of the major players of the global beverage cans market which includes profiling of companies like Ball Corporation, Crown Holdings, Amcor etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global beverage can market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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