Global Beer Cans Market - 2021-2028
Beer Cans Market Overview
The global beer cans market size was worth US$ YY million in 2020 and is estimated to reach US$ YY million by 2028, growing at a CAGR of YY % during the forecast period (2021-2028).
One of the most popular alcoholic beverages is beer. A beer can is a container or vessel used to transport beer for easy consumption. Beer cans usually have a capacity of 330 ml or 500 ml. Beer cans are convenient to transport and allow customers to take their favorite beer home with them. Furthermore, due to rising alcoholic beverage consumption, the beer cans market has tremendous prospects for package makers. Premiumization is not a new trend, but it has had a significant impact on beverage packaging design. Nowadays, brand owners consider beer cans an advertising tool and offer direct-to-substrate printing, which improves the can's visual appearance.
Beer Cans Market Dynamics
Nowadays, brand owners are considering beer cans as an advertisement tool and also provide direct-to-substrate printing, which increases the aesthetic looks of the can. Furthermore, the global beer cans market is very competitive owing to the presence of many worldwide and regional manufacturers.
Consumer demand for a wide selection of beers with different tastes and flavors is predicted to boost growth in the near future.
The shifting customer desire for a wide variety of beers with taste and flavor is the key force behind the significant growth in the beer cans industry. In addition, rising beer consumption in emerging nations such as India and China will increase the demand for beer cans. Beer can producers are gradually increasing their R&D expenditures in order to improve the appearance and functionality of their products. Furthermore, the market would be boosted by beer cans' recyclability and environmental benefits throughout the forecast period.
Beer cans are expected to grow in popularity due to their small weight and multiple convenience possibilities.
Beer cans are also driving the market because of their small weight and convenience. Metal container types such as beer cans have benefited from government measures to reduce the use of plastic and glass in alcohol packaging. Many sites where bottles are generally prohibited, such as beaches, pools, parks, campgrounds, ballparks, golf courses, boats, and so on, accept cans. Additionally, cans are 100% recyclable and can be recycled indefinitely. Also, because cans are significantly lighter than bottles, they require less fuel to transport, whether empty or filled.
The customer preference for wine could pose a challenge to the beer can business. Due to the increasing availability of wine and liquor products, consumer preference for wine may pose a market problem, and this trend is projected to continue, causing more consumers to gravitate toward these commodities.
According to a study, a glass of red wine includes 187 mg of potassium or roughly 4% of the daily intake, and wine also contains a substantial quantity of fiber. Small quantities of resveratrol, found in red wine, can slow down the aging process, and flavonoids found in wine can protect your skin from harmful UV rays; all these factors are predicted to act as a deterrent to the beer can industry.
COVID-19 Impact Analysis
The coronavirus infection 2019 (COVID-19) global consequences are already being seen, and the beer cans market will be significantly impacted in 2020. Over forty countries have declared states of emergency, resulting in flight cancellations, travel bans, and quarantines; restaurants have closed; all indoor/outdoor events have been canceled; and over forty countries have declared states of emergency; significant supply chain slowdown; stock market volatility; plummeting business confidence, increased panic among the populace, and concern about the future have all been impacted by the COVID-19 epidemic.
Beer Cans Market Segment Analysis
By material, the beer cans market is classified into aluminum, steel, and tin.
The global beer cans market is likely to be dominated by aluminum.
The most widespread material type in the beer can industry, among others, is aluminum. With the rise in craft beer production, demand for canned aluminum beer is rising. According to the Brewers Association, the number of breweries in the United States has increased to 8,386. Many of these breweries are switching to aluminum because it is less expensive, has better beer shielding properties, and has a smaller environmental footprint.
According to Resource Recycling Systems, aluminum cans have a higher global recycling rate of 69 percent. In comparison, aluminum cans in the United States contain 68 percent recycled material compared to 3 percent for plastic bottles, according to the US Environmental Protection Agency (EPA). This will result in a higher rate of aluminum can consumption for craft brews.
Beer Cans Geographical Analysis
Asia-Pacific holds the largest market share global beer cans market.
Changing cultural trends, population growth, urbanization, and the rising popularity of beer among the younger population are driving the Asia-Pacific beer cans market. Gluten-free beers consisting of millet, barley malt, corn, potato, rice, soybean, and sorghum are becoming increasingly popular in this region.
Beer consumption is also steadily increasing in China, India, and Vietnam. As a result, increasing innovation in flavors and preparations is expected to fuel demand for beer, resulting in increased growth of beer cans. Heineken, an Amsterdam-based corporation, expanded their interest in Bangalore-based United Breweries, India's largest beer maker, indicating that the beer packaging industry in India has significant growth potential, which will increase the use of beer cans.
To profit from the region's expansion, Japanese corporations are expanding their operations in Southeast Asia. They're putting their money into food and beverage containers this time. Showa Denko, a Japanese company, will invest around USD 64 million in Vietnam to expand its aluminum beverage can and can lid production capacity.
Beer Cans Competitive Landscape
Due to the presence of numerous foreign and domestic manufacturers, the beer cans market is quite competitive. Vendors compete in terms of price, capacity, volume, product quality, and technical innovation in the market, which appears to be somewhat concentrated. Key players operating in the global market for Beer Cans include Toyo Seikan Group Holdings Ltd., Ball Corporation, Crown Holdings, Inc., Ardagh Group S.A., Can-Pack S.A., Orora Packaging Australia Pty Ltd., CPMC Holdings Limited, and Nampak Bevcan Limited.
Overview: Commercial and governmental customers can get metal packaging for beverages, meals, and domestic products, as well as aerospace and other technologies and services. The company, which was founded in 1880, now employs 21,500 people around the world. BLL is the ticker symbol for Ball Corporation stock on the New York Stock Exchange.
Product Portfolio: They create environmentally friendly packaging for beverages, personal care products, automobiles, electronics, healthcare, and other products.
Key Developments: With new cutting-edge facilities in the UK and Russia, Ball Corporation, one of the world's top manufacturers of infinitely recyclable aluminum beverage packaging, plans to enhance its manufacturing capacity by 2021 dramatically. With a growing customer desire for more environmentally friendly purchasing options and a growing number of new brands and beverage categories opting for cans, aluminum packaging demand is fast-growing worldwide. From 2023, each factory will produce billions of cans per year in a variety of formats and sizes, creating up to 200 skilled employment in a fast-growing but stable industry.
The global beer cans report would provide access to an approx. 63 market data table, 55 figures and 235 pages.
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