Increase consumption of beer cans will spur the market revenue growth
The global beer cans market accounted for US$ XX Bn in 2018 and is anticipated to grow to US$ XX Bn, growing at a CAGR of 3.5% during the forecast period from 2019 to 2027.
Increasing consumption of craft beer across various regions coupled with recreational and environmental benefits are major factors driving the beer cans market growth. Customers are inclined towards craft beer brewed by both small and large breweries. Increasing production of craft beers globally are proliferating the demand for beer cans market, especially aluminum cans. 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.
Beer cans offer a combination of benefits, including easy transportability and recyclability, among others. The recreational and environmental benefits offered, such as cans, are permitted at many places, whereas bottles are not in areas including beaches, pools, parks, campgrounds, and boats. Additionally, beer cans are 100% recyclable and can be recycled indefinitely.
Market Synopsis
Aluminum segment to dominate the market throughout the forecast period
The aluminum segment accounted for the highest share in the market in 2018 owing to its lightweight, high molding abilities, and increasing production of craft beers, among others. The aluminum segment accounts for more than 60% of the volume sold globally. In addition, increasing recycling programs and stringent government regulations owing to concerns regarding depletion of natural resources are factors further proliferating the demand for beer cans market.
According to beverage trends in packaging and processing operations, there is a significant increase in the number of microbreweries in the US which has grown more than 6000, and they are increasingly adopting aluminum cans due to the benefits offered by it, such as low-cost, better molding capabilities, less environmental footprint, and recyclability.
Capacity Analysis
500 ml segment expected to dominate the market during the forecast period
Based on capacity, 500 ml accounted for more than 60% of the global beer can market in 2018. The 500 ml or 16 ounces or larger segment had the largest share in the global beer can market owing to the availability of premium and economy brands in places such as convenience stores, pubs, and clubs, among others. In addition, the 500 ml segment had the highest share due to increasing demand for beer cans in taprooms and brewpubs worldwide. Changing consumer preferences and increasing the young population in emerging regions such as Asia Pacific, Latin America, Middle East, and Africa are further expected to support the segment growth during the forecast period.
On the other flip, the 330 ml segment is expected to expand at a rapid pace owing to the growing demand for alcohol among millennials. In addition, the increasing demand from emerging economies of Asia Pacific, including China and India, among others, due to rapid urbanization and the presence of major alcoholic manufacturers such as United Breweries, Carlsberg, and B9 Beverages (Bira 91), among others in the region.
Regional Analysis
Rising urbanization to bolster the growth in Asia Pacific region
The Asia Pacific is projected to expand at a rapid pace during the forecast period owing to the changing cultural trends, rising urbanization, growing population, and popularity of beer among youth in the region. In addition, a shift in consumer preference for gluten-free beer coupled with growing innovations in flavors and preparation are driving the demand for beer, boosting the demand for beer cans market. For instance, Heineken, an Amsterdam-based company, bought a stake in Bangalore-based United Breweries, India’s one of the largest beer manufacturers. This, in turn, offers high growth potential for the beer packaging industry in the country and bolsters the demand for beer cans market.
List of Companies Covered:
Toyo Seikan Group Holdings Ltd
Ball Corporation
Crown Holdings, Inc.
Ardagh Group S.A.
Cans-Pack S.A.
Orora Packaging Australia Pty Ltd.
CPMC Holdings Limited
Nampak Bevcan Limited.
Daiwa Cans Co.
Shenzhen Xin Yuheng Cans Co., Ltd
Key Industry Development:
In March 2020, Aiming to appeal to local consumers and increase its brand presence, Brazil-based craft beer brand Bierland has converted 100% of its product portfolio to be packaged in beverage cans in collaboration with Crown Embalagens Metálicas da Amazônia S.A., a subsidiary of Crown Holdings, Inc.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Market Segmentation
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall Beer Cans market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
What are the current market trends and dynamics in the beer cans market and valuable opportunities for emerging players?
Estimated forecast and market projections up to 2027
Which segment accounts for the fastest CAGR during the forecast period?
Which application segment holds a larger market share and why?
Are low and middle-income economies investing in the beer cans market?
Which is the largest regional market for beer cans?
What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
The worldwide market value of the Beer Cans market in 2017 and 2018
Which are the key trends driving the global beer cans market growth?
Who are the leading service providers in the beer cans market worldwide?
Frequently Asked Questions:
The market for Beer Cans Market is expected to reach US$ XX Bn By 2027.
The Beer Cans Market is expected to see significant CAGR growth over the coming years, at 3.5%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Toyo Seikan Group Holdings Ltd, Ball Corporation, Crown Holdings, Inc., Ardagh Group S.A., Cans-Pack S.A., Orora Packaging Australia Pty Ltd., CPMC Holdings Limited are some of the major players in the global market.
