A comprehensive study conducted by Future Market Insights
(FMI) discloses critical factors facilitating growth in the drink
cans market. It discovers upcoming opportunities across
various segments on the basis of capacity, product
type, and content for leading players to capitalize on them with a
ten-year analysis
DUBAI, UAE, Nov. 22, 2021 /PRNewswire/ -- As per a detailed
analysis by FMI, the global drink cans market is projected
to top US$ 107.8 Bn by 2031.
Rising production output from the food & beverage industry
owing to increasing demand for ready-to-eat food and drink products
is favoring the sales in the market.
Rising consumer preference towards eco-friendly and sustainable
packaging solutions owing to the growing concerns to curb carbon
footprints is increasing continuously. Hence, as metal cans made of
aluminum, and steel are recyclable, they are gaining immense
traction, especially across the beverage industry.
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As per FMI, the drink cans market is estimated to expand at a
robust CAGR of 8.5%, with sales expected to total 524 Bn units
through 2021 & beyond. Further, rapid penetration and expansion
of the food and beverage services are anticipated to create
tremendous growth opportunities for drink can manufacturers.
For instance, as per the India Brand Equity Foundation (IBEF),
by 2025, the fast-moving consumer goods (FMCG) market in
India is estimated to expand by
200%. This will augment the sales of non-alcoholic beverages,
consequently, propelling the demand for drink cans.
On the basis of content, the non-alcoholic beverage segment is
projected to account for more than 63% of the overall sales in
2021. Increasing consumption of carbonated drinks, canned juice,
tea & coffee, and energy drinks across the U.S., China, India,
Japan, and others are the factors
driving the growth in the segment.
"Surging adoption of novel printing technologies such as
three-dimension (3D) printing owing to growing demand for
customized manufacturing drink cans is expected boost the market.
Hence, to capitalize on this trend, key manufacturers are focusing
on providing customized packaging solutions as per customer
requirements," says a FMI analyst.
Key Takeaways from Drink Cans Market
Study
- The market in the U.S. is estimated to hold the largest revenue
share in North America, accounting
for nearly 72.5% of the sales by 2031-end.
- China is projected to account
for around 42% sales in East Asia,
owing to the increasing consumption of beverages in the
country.
- India is anticipated to emerge
as the dominant market in South
Asia, accounting for more than 31% of the regional demand
share through 2031.
- Based on content, non-alcoholic beverages are forecast to
remain a leading segment, projecting growth at 2.2x through
2031.
- In terms of product type, 2-piece cans are expected to emerge
as the most attractive segment, accounting for over 66% of the
sales in 2021.
Key Drivers
- Increasing consumption of alcohol-based flavored drinks across
North America, Latin America, and Europe as an alternative to high-alcohol
beverages is estimated to drive the growth in the market.
- Growing inclination towards using sustainable and eco-friendly
owing to stringent regulations towards curbing the carbon footprint
is propelling the demand for 2 – Piece drink cans
- Key Restraints
- Volatility in the cost of raw material, due to lack of imports,
for the production of drink cans is expected to hamper the
growth.
- High cost of metal and availability of low-cost alternative
such as plastic is hindering the sales of metal cans.
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Competitive Landscape
The top five players in the global drink cans market are
Ab-InBev, Novelis Inc., Ball Corp., Crown Holdings Inc., Toyo
Seikan Group Holdings Ltd. These companies are expected to account
for nearly 20% to 25% of the total sales in the market by
2021.
Leading manufacturers are focusing on capacity expansions and
partnerships with other players to increase their product
portfolio, product manufacturing capabilities, and global presence.
For instance:
- In 2021, Ball Corporation, an American company, announced its
plan to build a new aluminum can production plant near Pilsen,
Czechia. This will assist the company to expand its production
capacity and market share.
- In April 2021, Novelis Inc., a
leading aluminum rolling and recycling company, announced complete
acquisition of a global supplier of rolled aluminum products,
Aleris Corporation. The acquisition will assist the company to
expand its innovative product portfolio and deepen its commitment
to sustainability, safety, quality and partnership.
Some of the key players operating in the market profiled by
FMI are:
- Ab-InBev
- Novelis Inc.
- Ball Corp.
- Crown Holdings Inc.
- Toyo Seikan Group Holdings Ltd.
- SHOWA DENKO K.K.
- Silgan Holdings Inc.
- Can Pack S.A.
- Cpmc Holdings Ltd.
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More Valuable Insights on Drink
Cans Market
A new report published by FMI offers a detailed analysis of the
global drink cans market, uncovering vital dynamics accelerating
the market growth through 2021 and beyond. The survey reveals sales
projections in drink cans market across several countries and
regions with detailed segmentation:
By Capacity:
- Up to 200 ml
- 201 - 450 ml
- 451 - 700 ml
- 701 - 1000 ml
- More than 1000 ml
By Product Type:
- 1 – Piece Cans
- 2 – Piece Cans
- 3 – Piece Cans
By Content:
- Alcoholic Beverages
-
- Beer
- Wine
- Spirits
- Others Alcoholic Beverages (Cider, etc.)
- Non-Alcoholic Beverages
-
- Carbonated Drinks
- Tea & Coffee
- Juices
- Soft drinks
- Dairy Drinks
- Soda
- Other Beverages (Energy & Sports drinks, Electrolytes,
etc.)
By Region:
- North America
- Latin America
- Europe
- MEA
- East Asia
- South Asia
- Oceania
Key Questions Covered in the Report
- The report offers insight into drink cans market demand outlook
for the forecast period 2021-2031
- The market study also highlights projected sales growth for
drink cans market between 2021 and 2031
- Drink cans market survey identifies key growth drivers,
restraints, and other forces impacting prevailing trends and
evaluation of current market size and forecast and technological
advancements within the industry
- Drink cans market share analysis, covering key companies within
the industry and coverage of strategies such as mergers &
acquisitions, joint ventures, collaborations or partnerships, and
others
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market
intelligence and consulting services, serving clients in over 150
countries. FMI is headquartered in Dubai, and has delivery centers in the UK,
U.S., and India. FMI's
latest market research reports and industry analysis help
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insights that drive sustainable growth. A team of expert-led
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broad range of industries to ensure that our clients prepare for
the evolving needs of their consumers.
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