19-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Beverages Can Market By Type (Aluminium and Steel), By Application (Non-Alcoholic Beverages and Alcoholic Beverages): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Beverages Can market in 2019 was approximately USD 49.50Billion. The market is expected to grow at a CAGR of 5.5% and is anticipated to reach around USD 55.80 Billion by 2026.
A beverage can is also known as a drink can and is designed to store a single-serving beverage. Aluminum is the traditionally used material for manufacturing beverage cans. During early days steel was commonly used to design beverage cans. Over the years the industry has witnessed several transformations in the material and technology used in the beverage can design. Drink cans come in variable diameters and heights to contain the series of capacities presently in use. The U.S., New Zealand, and Australia and almost internationally use a diameter somewhat in a surplus of 65mm. The metal cans of the beverage are usually made from aluminum, 55% steel, and 45% aluminum alloy.
Browse the full “Beverages Can Market By Type (Aluminium and Steel), By Application (Non-Alcoholic Beverages and Alcoholic Beverages): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/beverages-can-market-by-type-aluminium-and-steel-824
Increasing consumption of beverages along with the increasing number of innovative brands in the market is anticipated as a key market driver. Value-added beverages and drinks are highly popular among the health-conscious population. Further, the development of organized food retailing and distribution across developing economies is exhibiting substantial opportunities for market growth. Beverage companies are increasingly investing in the development of sustainable business models and supply chains. Rising middle-class population and changing consumer preferences are the major industry trends affecting the overall industry performance worldwide.
The product type segments identified for beverages can market include aluminum and steel; wherein aluminium beverages can was the foremost segment with a market share of around 68% in terms of revenue in 2018. The segment is also predicted to register the highest CAGR of 5.5% during the market forecast. The very first aluminium can for beverages was manufactured by the Adolf Company in 1958. All aluminium cans have become the standard choice for beverage serving over the last decade.
The application segments identified for beverage can market include non-alcoholic beverages and alcoholic beverages; wherein the non-alcoholic beverages segment was foremost segment and accounted for around 54% market share of aggregate revenue generated in 2018. The market for non-alcoholic drinks is growing rapidly with the increasing demand for energy drinks and ready to drink tea and coffee. The growing health awareness among people coupled with increasing consumption of fruit juices boosts the demand for beverage cans. The alcoholic beverages segment is estimated to register a CAGR of 4.5% during forecasting years.
Geographical segments identified in the global beverage can market include North America, Middle East and Africa, Latin America, Asia Pacific, and Europe. The regional segments are further studied on the country level for in-depth market insights. North America accounts for the major market share in terms of revenue followed by Asia Pacific and Europe. Increasing purchasing power, expansion in the millennium population, and availability of local as well as international beverage brands are driving the demand for beverage cans in Asian countries.
Prominent industry participants incorporated in the market study include Schott Glaswerke AG, Edmund Optics, Ohara Corporation, Hoya Corporation, CORNING, CDGM Glass Company, Nikon Corporation, and some other regional companies. Technology up-gradation and recycling of used can are the major trends and making the industry more competitive.
This report segments the Athletic Footwear market as follows:
Global Beverages Can Market: By Type Segmentation Analysis
Global Beverages Can Market: By Application Segmentation Analysis
Global Beverages Can Market: Regional Segmentation Analysis
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