The global drink cans market size is estimated to reach USD 56,891.1 million in 2023, with sales predicted to grow by 7.7% CAGR during the forecast period. The market is projected to be valued at USD 119,208.6 million by 2033.
| Attribute | Details |
|---|---|
| Projected year (2023) Drink Cans Market Value | USD 56,891.1 million |
| Projected year (2033) Drink Cans Market Value | USD 119,208.6 million |
| CAGR% (2023 to 2033) | 7.7% |
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The growing consumption of beverages, including soft drinks, alcoholic beverages, and energy drinks, is fueling the demand for drink cans. With the busy lifestyles of modern consumers, the convenience and portability of drink cans are increasingly preferred over other packaging formats.
In addition, the rising awareness of environmental issues and the need to reduce plastic waste is driving the adoption of drink cans as a sustainable and recyclable packaging option. Consumers are increasingly conscious of their carbon footprint and are choosing products that align with their values.
The drink cans industry is witnessing significant innovation and advancements, such as lightweight and shatterproof cans, easy-to-open lids, and customizable printing options. These technological advancements are attracting new customers and opening up new market opportunities for manufacturers.
Also, the convenience and affordability of drink cans make them a popular choice among consumers. Drink cans are easy to transport, store, and dispose of, and their low production costs make them an economical option for manufacturers. This combination of convenience and affordability is driving the growth of the drink cans industry.
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In the latest report drafted and released by Aluminum Association, CMI, and ISRI, aluminum cans are identified as the most recycled and highest-value beverage containers in the market today. Growing preference for environment-friendly packaging solutions across the globe is fueling the growth of the global drink cans industry.
Volatility in raw material prices and other input costs have led to an increase in the prices of drink cans. The lack of imports is restricting the supply of basic raw materials. When combined with late deliveries, this factor further propels raw material prices, resulting in limited profitability for drink cans manufacturers.
Industrial manufacturers are also compelled to minimize product costs while improving overall product quality. The slowdown in European and North American economic activities is the main reason behind the decline in demand for drink cans.
Labor disputes and job cuts are increasing due to the slowdown, leading to a tough situation for the entire drink cans industry. Moreover, there have been fluctuations in the prices of basic metal, further hampering the growth of the global drink cans industry.
Metal products are produced on a massive scale across the globe. It is estimated that approximately 55% of all metal products are converted into metal waste in a short period.
Improper metal waste management causes landfill problems and soil pollution. Numerous organizations and governments have taken the initiative and introduced strict rules and regulations for metal waste management.
Since drink cans are 100% recyclable, they present a lucrative opportunity to bolster market profitability. As they create nearly zero carbon footprint during the recycling process, they are beneficial to the environment. Moreover, they can be recycled all over again in the same process, reducing the dependency on raw materials. This opportunity is likely to increase demand for drink cans over the forecast period.
Demand for innovative packaging solutions in the food and beverage services sector has navigated rapid developments in the global drink cans industry. Sales of drink cans are predicted to rise at 7.7% CAGR between 2023 and 2033, in comparison to the 5.5% CAGR registered from 2018 to 2022.
| Particulars | Details |
|---|---|
| Jan-Jun (H1), 2021 (A) | 5.4% |
| Jan-Jun (H1), 2022 Projected (P) | 5.2% |
| Jan-Jun (H1), 2022 Outlook (O) | 5.6% |
| BPS: H1,2022 (O)–H1,2021 (A) | 20 |
| BPS: H1,2022 (O)–H1,2021 (A) | 40 |
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| USD million 2025 | 65,989.64 |
|---|---|
| USD million 2028 | 82,437.13 |
| USD million 2032 | 110,913.82 |
Short term (2022 to 2025): The drink cans industry is expected to witness robust growth during the short term period, primarily driven by the growing demand for convenient and sustainable packaging solutions.
The increasing popularity of energy drinks, canned wines, and ready-to-drink cocktails is expected to fuel the demand for drink cans. Moreover, the rising adoption of digital printing technology is expected to open new avenues for customization and product differentiation. The increasing demand for functional drinks and supplements is also expected to drive the growth of the drink cans industry.
Medium term (2025 to 2028): The medium-term period is expected to witness sustained growth in the drink cans industry, fueled by the rising demand for eco-friendly and lightweight packaging solutions.
With the increasing emphasis on sustainable packaging practices, drink cans are expected to gain further traction as a recyclable and reusable option. In addition, the growing popularity of canned craft beer and other premium beverages is expected to create new growth opportunities for manufacturers.
Long term (2028 to 2032): During the long-term period, the drink cans industry is expected to continue its growth trajectory, driven by the increasing adoption of digital printing technology and the growing demand for functional and premium beverages.
Moreover, the trend of customization and personalization is expected to gain further momentum, driving the growth of the drink cans industry. The increasing popularity of e-commerce channels is also expected to provide new growth opportunities for manufacturers, by enabling them to reach a wider consumer base.
As of 2022, the drink cans industry in the United States was valued at USD 8,496.6 million, representing a market share of 15.7%.
According to Section 416 of the Food and Drug Administration (FDA), food delivery service providers must ensure that food & beverage products are not delivered under any condition that may damage the product’s internal contents. These safety regulations are set to boost demand for durable and safe food and beverage packaging solutions like drink cans in the United States
Moreover, the United States is one of the largest markets for the consumption of drink cans. Drink cans are the most favored choice for exporting non-alcoholic and alcoholic products across the globe, which in turn is expected to continue pushing sales of drink cans through 2033.
China drink cans industry is anticipated to rise at a CAGR of 8% during the forecast period. The sales of drink cans in China were estimated to be worth USD 8,741.3 million in 2022.
China is expected to hold over 42% of the drink cans industry share in the East Asia region. According to the State Food and Drug Administration, China, there is a 4.7% increase in beverage consumption in China during 2022-2023.
China is well known for its delicacies and indigenous manufactured beverages. The price of making products is very low in the country because of cheap labor and a large consumer pool. China also remains one of Asia’s biggest markets for food, beverages, chemicals, electronics & electrical personal care industry, making it highly lucrative for drink cans manufacturers.
Moreover, increasing demand for sustainable packaging solutions, along with increasing consumption of non-alcoholic and alcoholic beverages is expected to augment the growth of the market.
India drink cans industry was worth USD 7,804.4 million in 2022. The country is expected to witness a prominent CAGR of 8.5% during the assessment period.
India is forecast to account for more than 31% of the South Asia drink cans market share by the end of 2033. The expansion and penetration of the food & beverage services are expected to offer tremendous opportunities for drink cans manufacturers to increase their sales in India.
In reports published by the India Brand Equity Foundation (IBEF), the FMCG market in India is expected to expand by 200% i.e., by almost USD 70 million in 2025. This is expected to augment the growth of the non-alcoholic beverages segment of the drink cans industry in the country.
In addition to this, recent policy changes drafted by the Government of India allow a 51% FDI investment in multi-brand retail, creating lucrative prospects for new entrants in the drink cans industry.
Due to large-scale production, India has emerged as a major exporter of packaged food. Total food and beverage commodities exported were worth more than USD 18.50 million between March 2020 and February 2022.
Increasing production of food & beverage products in India is resulting in high demand for packaging solutions for alcoholic and no- alcoholic beverages. Driven by this, sales of drink cans in India are expected to rise at a steady pace over the forecast period.
2–piece drink cans are widely adopted by beverage manufacturers due to their high recyclability. This segment accounts for nearly 66.5% of the total drink cans industry in 2022.
The United States Food and Drug Administration and various European health organizations have started to implement rules for drink cans production to ensure that contents stored in cans are not damaged during transit.
If drink cans are exposed to sunlight for a longer duration, it is likely to lead to adverse effects such as spilling and product contamination. In the cases of alcoholic beverages, chemicals might react due to sunlight, making contents unfit for consumption.
The non-alcoholic beverage segment accounted for a dominant share of 61% of the total drink cans market share in 2022. Increasing demand for canned juice, energy drinks, and carbonated drinks in North America and Europe is likely to continue pushing sales of drink cans over the forecast period.
In South Asia, expansion of the food and beverage sector, along with increasing spending on the consumption of carbonated drinks, tea & coffee, and non-alcoholic beverages is expected to propel sales of drink cans for non-alcoholic beverages by 2.2x through 2033.
Companies operating in the drink cans industry are aiming at expansions and strategic partnerships with other manufacturers to expand their product manufacturing capabilities, product portfolio, and global presence. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; MEA; East Asia; South Asia; Oceania |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, Australia, and GCC Countries |
| Key Segments Covered | Capacity, Product Type, End-Use Industry, and Region |
| Key Companies Profiled | 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. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Beverage companies are the key consumers.
The global market is projecting a significant CAGR of 7.7% by 2033.
The market is estimated to secure a valuation of USD 56,891.1 million in 2023.
The market is estimated to reach USD 119,208.6 million by 2033.
The non-alcoholic beverage segment holds high revenue potential.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 5.1. Up to 200 ml 5.2. 201 to 450 ml 5.3. 451 to 700 ml 5.4. 701 to 1000 ml 5.5. More than 1000 ml 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 6.1. Standard cans 6.2. Stay-on-tab cans 6.3. Easy-open end cans 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Alcoholic Beverages 7.2. Non-Alcoholic Beverages 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Ab-InBev 16.2. Novelis Inc. 16.3. Ball Corp. 16.4. Crown Holdings Inc. 16.5. Toyo Seikan Group Holdings Ltd. 16.6. SHOWA DENKO K.K. 16.7. Silgan Holdings Inc. 16.8. Can Pack S.A. 16.9. Cpmc Holdings Ltd. 16.10. Allstate Can Corporation 17. Assumptions & Acronyms Used 18. Research Methodology
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