Beverage Cans Market: Aluminum Cans are the Future of Beverage Packaging

Beverage Cans Market Information Report by Material, by Application, and By Region - Global Forecast To 2028

NEW YORK, UNITED STATES, UNITED STATES, April 19, 2023/EINPresswire.com/ -- The global beverage cans market¹ growth is projected to be 3.8% a year for the time period that this report covers. The global beverage cans market value was USD 26.35 billion in 2020. It’s expected to be USD 32.93 billion in 2028.

Most cans in the global beverage cans market are made out of aluminum. It’s because aluminum is a strong and environmentally friendly metal. Aluminum is also cost-effective. The metal can be recycled easily and still retain its quality and quantity. These are some of the reasons why it’s commonly used in the manufacture of beverage cans.

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Competitive landscape
The global beverage cans market is extremely competitive. There are few barriers to entry and the market is lucrative and has a high CAGR. Hence, many companies, especially larger ones, are being enticed into the industry.

Companies are finding that they have to invest heavily in research and development to develop and market innovative new products that will allow them to create the sustainable competitive advantage that they need to remain profitable in the near and long-term future.

These companies are also resorting to mergers and acquisitions and strategic partnerships with other successful companies.

CPMC Holdings is a major Chinese company. It is a success because it invested heavily in research and development. Thus, it was able to remain profitable and develop a sustainable competitive advantage by developing and marketing innovative new products.

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List of companies
BWAY Corporation (U.S.),
Kian Joo Can Factory Berhad (Malaysia),
Toyo Seikan Group Holdings, Ltd. (Japan),
CPMC Holdings Ltd. (China),
Orora Packaging Australia Pty Ltd (Australia),
HUBER Packaging Group GmbH (Germany),
Crown Holdings Incorporated (U.S.),
Ball Corporation (U.S.),
Ardagh Group (Luxembourg),
Silgan Holdings Inc. (U.S.), and
Can-Pack SA, (Poland).

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Segment overview
By materials
The materials segment can be separated into the following sub-segments:

Aluminum
Steel
The aluminum sub-segment enjoys the greatest beverage cans market share. It also has the fastest growth rate. The reasons for this are that aluminum is lighter than steel is. It’s also easier to recycle in comparison to steel. Aluminum is much easier to manufacture than steel is. These are some of the many reasons why manufacturers prefer to use aluminum when manufacturing beverage cans.

Recycled aluminum is lighter than non-recycled aluminum is. Beverage can manufacturers find that they can reduce the overall weight of beverage cans by up to 30% by using only recycled aluminum in these cans.

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