Beverage Cans Market Size| COVID-19 Impact, Business Revenue, Future Scope, Market Trends, Key Players and Forecast to 2023
Beverage Cans Market Size Overview
The Global Beverage Cans Market is increasing with the rapid pace; mainly due to the growth in packaged food & beverage industries. Increase in customer income in developing countries such as China, India, and Brazil, have led to growth in demand for beverage cans.
Industry News
September 2019: California Cider Co., the company behind the popular Ace ciders, established a canning line in its Sebastopol production plant to launch its fast-selling Ace pineapple craft cider in aluminum cans.
Segmental Analysis
The global Beverage Cans Market Size is segmented on the basis of materials and applications. The materials used to make beverage cans are aluminum and steel. The aluminum segment dominates the market and is expected to sustain its leading market share over the review period. This is attributed to its superior properties as compared to steel, such as lightweight, higher recycling rates with secure manufacture processing. Additionally, the steel segment is also expected to acquire a substantial growth rate over the review period. The applications
Regional Analysis
Europe is another primary market for beverage cans. Germany, the U.K., and France are the major markets in the region. Increased recycling activities are undertaken by the regulatory bodies, including the European Commission, and national governments of France, Germany, and the UK drive the growth of the market in the region. Furthermore, Europe is the hub of major non-alcoholic and alcoholic beverage manufacturers. This also has an encouraging influence on the growth of the market.
An upsurge in purchasing power in the region fuels the growth of the market. Additionally, the availability of raw materials and lower labor cost, together are a positive impact on market growth. The young population, with momentous disposable income, will also drive the demand for beverage cans in the foreseeable future. China accounts for the largest share of the Beverage Cans Market Size in the Asia Pacific region over the review period. Moreover, Latin America and Middle-East & Africa are also touted to observe positive growth over the forecast period owing to the growing consumption of alcoholic beverages in major markets such as South Africa, Brazil, & in the Middle East region.
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