PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209842
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209842
According to Stratistics MRC, the Global Beer Cans Market is accounted for $45 billion in 2022 and is expected to reach $68 billion by 2028 growing at a CAGR of 7.2% during the forecast period. A beer can is a container or vessel used for the easy consumption of beer. Beer cans typically have capacities of 330 ml and 500 ml. Beer cans are a convenient way for consumers to introduce their favourite beer home. Furthermore, due to rising alcoholic beverage consumption, the beer cans market presents enormous opportunities for packaging manufacturers.
According to Brewers Association, in the US, in 2018, the production of craft beers accounted to be 25.9 Mn barrels as compared to 25.1 Mn barrels in 2017. According to the Brewers Association, the number of breweries in the United States has increased to 8,386.
Market Dynamics:
Driver:
Small weight and multiple convenience possibilities
Due to their light weight and convenience, beer cans are now driving the market. Metal container types, such as beer cans, have benefited from government initiatives aimed at reducing the utilization of plastics and glass in alcohol packaging. Many places that generally prohibit bottles, also including beach resorts, swimming pool, parklands, camping sites, ballparks, golf courses, and boats, accept cans. Cans are also 100% able to be recycled and can be reprocessed indefinitely. Furthermore, because cans are lightweight than bottles, people require very little fuel to transport, regardless of whether empty or full. Thus, boosting the beer cans market growth during the forecast period.
Restraint:
Plastic packaging is widely used due to its low cost.
In developing countries, there is little understanding of the advantages of metal beverage packaging. Furthermore, the high price of raw materials such as steel and aluminium discourages purchasers from employing these products. Metal can manufacturers face a major challenge in replacing metal of polyethylene terephthalate (PET) bottles, particularly for beverage products. Other recyclable packaging materials, such as paper, glass, and plastic, are less expensive than metal packaging. However, PET-based cans are gradually becoming more popular in the market.
Opportunity:
Increasing consumption of craft beer across various regions
Beer cans market growth is being driven by rising craft beer consumption in various regions, as well as recreational and environmental benefits. Customers prefer craft beer produced by both small and huge breweries. The shifting consumer desire for a diverse range of beers with taste and flavour is driving tremendous growth in the beer cans industry. Furthermore, rapidly increasing wine consumption in emerging markets will drive up demand for beer cans. The growing global manufacturing of craft beers is driving up demand for beer cans, particularly aluminium cans.
Threat:
Growing Concerns about Use of Hazardous Materials
Aluminum can manufacturers coat the insides of containers with thin plastic coating materials to prevent aluminium from leaking into drinks and exposing them to dangerously low levels of Bisphenol A. (BPA). Customers may experience serious side effects and health problems as a result, which would include infertility, cancer, as well as polycystic ovarian disease. Despite the fact that aluminium cans are recyclable, half of all aluminium cans end up in landfills, resulting in an increase in the production of new cans. During the aluminium smelting process, nitrogen and sulphur dioxide are produced, causing acid rain and smog. As a result, addressing sustainability about dangerous chemicals are expected to slow the global beer cans market's growth.
COVID-19 Impact
The global consequences of corona virus infection are already being felt, and the beer cans market will be severely impacted. The COVID-19 epidemic has impacted over forty countries, resulting throughout delayed flights, travel restrictions, and quarantines; restaurant chains have closed; all indoor/outdoor occurrences have been cancelled; more than forty countries have announced declarations of emergency; major supply chain slowdown; stock market performance; dropping like a stone market confidence, increased fear and confusion among the population, and concern about the future.
The 500 ml segment is expected to be the largest during the forecast period
The 500 ml segment is estimated to have a lucrative growth, due to premium and economy brands are available in locations such as convenience stores, bars, and clubs, among others. Due to increased demand for beer cans in brew pubs and brewpubs worldwide, the 500 ml segment seemed to have the highest share. Changing consumer preferences and an increase in the number of young people in emerging markets are also expected to support segment expansion throughout the forecast period.
The aluminum segment is expected to have the highest CAGR during the forecast period
The aluminum segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its among other things, its lightweight, high moulding abilities, and increased production of craft beers. The aluminium segment records for the majority of the flow rate sold globally. Increasing recycling programmes and stringent regulations as a result of concerns about natural resource depletion are factors driving up demand for beer cans.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the changing cultural trends, rising urbanisation, increasing population, and prominence of beer among youth in the region. Furthermore, a shift in consumer personal taste for gluten-free beer, in addition to increasing innovations in flavours and preparation, is driving beer demand, boosting the market for beer cans. As a result, the beer packaging sector in the country has a high growth potential, as does the supply for beer cans.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the high industrial growth, urbanization, environmental concerns, high disposable income as well as lower production of fresh food and beverage products are fueling the market growth. Moreover regions such as Spain and Germany are providing various packaging such as flexible, rigid, paper and metal packaging for beers in order to enhance the sustainability of the packaging according to the government regulations. In addition availability of premium and economy brands in places such as convenience stores, pubs, and clubs, and others are propelling the market growth in this region.
Key players in the market
Some of the key players profiled in the Beer Cans Market include Ball Corporation, Williams and Davis Boilers., Rentech Boiler., Kawasaki Thermal Engineering Co.,Ltd, Toyo Seikan Group Holdings Ltd, Orora Packaging Australia Pty Ltd, Silgan Containers, Crown Holdings, Shenzhen Xin Yuheng Can Co., Ltd, Kaufman Container., East asia beer packaging limited.
Key Developments:
In July 2021, Ball Corporation established new aluminium beverage packaging factories that can manufacture millions of cans yearly. Ball Corporation is to build additional operations in Western Russia and the East Midlands of the United Kingdom, adding billions of cans per year to its current capacity. Each factory is expected to produce billions of cans per year in a variety of sizes and formats.
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