Beverage Cans Market Overview
Beverage cans are largely used for packaging of different kind of alcoholic and non-alcoholic beverages, like CSD, energy drinks, juices, and beers. Beverage cans have a superior hermetic seal and good barrier against oxygen and sunlight, thereby retaining the taste of the beverage. The Global Beverage Cans Market is increasing with the rapid pace; mainly due to the growth in packaged food & beverage industries. Increase in customer income in developing countries such as China, India, and Brazil, have led to growth in demand for beverage cans.
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Segmental Analysis
The global Beverage Cans Market is segmented on the basis of materials and applications. The materials used to make beverage cans are aluminum and steel. The aluminum segment dominates the market and is expected to sustain its leading market share over the review period. This is attributed to its superior properties as compared to steel, such as lightweight, higher recycling rates with secure manufacture processing. Additionally, the steel segment is also expected to acquire a substantial growth rate over the review period.
Competitive Analysis
The major market players in the global Beverage Cans Market comprises of Silgan Holdings Inc. (U.S.), BWAY Corporation (U.S.), Toyo Seikan Group Holdings, Ltd. (Japan), Kian Joo Can Factory Berhad (Malaysia), Orora Packaging Australia Pty Ltd (Australia), CPMC Holdings Ltd. (China), HUBER Packaging Group GmbH (Germany), Ball Corporation (U.S.), Crown Holdings Incorporated (U.S.), Ardagh Group (Luxembourg), and Can-Pack SA, (Poland).
Regional Analysis
On the basis of regions, the global Aluminum Can Market has been segmented as Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW). North America region leads the global Beverage Cans Market. Growing demand for metal cans in the region is notably driving the growth of the market.
Europe is another primary market for beverage cans. Germany, the U.K., and France are the major markets in the region. Increased recycling activities are undertaken by the regulatory bodies, including the European Commission, and national governments of France, Germany, and the UK drive the growth of the market in the region.
Asia Pacific is poised to grow at the highest CAGR during the forecast period. China, Australia, Japan, India, and Indonesia are the country-wise significant markets in the Asia Pacific region.
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