LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global beverage can market since 2018 and the market is poised to grow by USD 5.87 billion during 2020-2024, progressing at a CAGR of over 3% during the forecast period. Request Free Sample Pages
Read the 120-page research report with TOC on "Beverage Can Market Analysis Report by Application (Non-alcoholic beverages and Alcoholic beverages), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2020-2024".
The increased need for metal cans and growing market of ready-to-drink (RTD) coffee and tea is anticipated to boost the growth of the market.
The rising disposable income in emerging countries and the need for mental and physical stimulation through the consumption of energy drinks is driving the purchase volume of energy and juice drinks. Many vendors sell their beverage products such as beer, soft drinks, ready-to-drink tea and coffee, and juices, packaged in metal cans because metal cans offer several advantages throughout the supply chain. Metal cans are airtight as they provide better hermetic seals to restrict the flow of gases. They can be used in varying temperatures or fast-processing environments as they remain unaffected when exposed to heat or higher temperature. Such benefits of metal cans are expected to drive market growth during the forecast period.
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Major Five Beverage Can Market Companies:
Amcor Plc launched its first packaging product, AmLite Ultra Recyclable, from its sustainable high-barrier polyolefin in April 2019. It also launched a bottle for Nature's Promise hand soap, which is produced by a proprietary in-built machine powered by LiquiForm.
Ardagh Group SA
Ardagh Group SA announced the opening of a new can ends facility in Manaus, Brazil in July 2018. The company launched a development machine for glass forming systems in September 2018. This machine is capable of quick changes and contributes to a 30% reduction in new product lead times.
In October 2019, Ball Corporation announced its plans to build new manufacturing plants in Georgia and Rome. The company launched a new aerosol can in Paris in January 2019. Its aluminum aerosol cans provide the perfect packaging format for household and personal care products.
CAN-PACK SA opened a beverage can factory in Maracanáu, Brazil in April 2018. The company opened its second can production line in Romania in the same year. The company was recognized as a double Silver Winner in the Cans of The Year Awards organized by The Canmaker magazine in October 2019.
CPMC Holdings Ltd.
CPMC Holdings Ltd. announced that it would set up a new plant in Flanders, Belgium in February 2019. The company signed a strategic cooperation agreement with ORG Technology Co. Ltd. in 2018, according to which the two parties will further explore multi dimension cooperation on technology, marketing, capacity layout, and supply chain on the basis of capital cooperation.
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Beverage Can Application Outlook (Revenue, USD Million, 2020-2024)
- Non-alcoholic beverages
- Alcoholic beverages
Beverage Can Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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