The global beverage cans market was valued at USD 41.14 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2030. The increasing global consumption of beverages such as carbonated soft drinks, beer, and cider continues to drive demand for beverage cans. Furthermore, the high recyclability of aluminum cans and the superior physical properties of metal compared to alternative materials are expected to support market growth over the forecast period.

Beverage cans provide excellent convenience and portability, making them a preferred choice for on-the-go consumption. They are lightweight, easy to carry, and resealable, allowing consumers to enjoy beverages at their convenience. This feature is particularly attractive to urban consumers with fast-paced lifestyles and a growing demand for convenient packaging solutions. For example, energy drink manufacturers have capitalized on the portability of cans to cater to active consumers seeking accessible beverages during workouts and outdoor activities.

Environmental sustainability has also become a key driver of market growth. As awareness of environmental issues grows among consumers and companies alike, the recyclability of beverage cans is gaining attention. Aluminum cans are highly sustainable—they can be recycled indefinitely without degradation in quality. Many beverage brands are emphasizing the use of aluminum cans as part of their environmental initiatives to appeal to eco-conscious customers. For instance, in June 2023, Marlish Waters Ltd, a UK-based drinks company, introduced a new 150 ml aluminum can format for its range of tonics and mixers. This new packaging is glass-free and made from infinitely recyclable aluminum, which is more cost-effective and easier to recycle than glass. The launch included four popular products: English Tonic Water, Premium Lemonade, Ginger Ale, and Soda Water.

Additionally, beverage cans serve as an effective medium for branding and visual differentiation. The 360-degree printable surface of cans offers companies an opportunity to create striking, recognizable packaging that stands out on shelves. This feature is especially significant in the craft beer and flavored alcoholic beverage segments, where creative can designs play a vital role in capturing consumer interest.

Material Insights

By material, the market is categorized into aluminum and steel. Aluminum dominated the market with a revenue share exceeding 96.0% in 2023. Its popularity stems from its ease of heating and cooling for sterilization, as well as its ability to preserve the structure and integrity of the contents.

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Application Insights

In terms of application, the market is segmented into carbonated soft drinks, alcoholic beverages, fruit & vegetable juices, and other applications. The alcoholic beverages segment led the market with a revenue share of over 38.0% in 2023. This growth is driven by rising demand among millennials, increased disposable income, and a growing preference for premium and high-quality alcoholic drinks.

Regional Insights

North America accounted for the largest regional market share, capturing over 36.0% of total revenue in 2023. This dominance is largely due to the widespread consumption of canned beverages at sports events such as Major League Baseball games, where portability and convenience are key.

Key Beverage Can Companies

The following companies are recognized as leaders in the beverage cans market, collectively shaping industry trends:

• Ball Corporation
• Ardagh Group S.A.
• Toyo Seikan Co., Ltd.
• CPMC Holdings Limited
• Orora Packaging Australia Pty. Ltd.
• CANPACK
• Crown Holdings, Inc.
• Mahmood Saeed Can and End Industry Company Limited (MSCANCO)
• Kian Joo Can Factory Berhad
• SWAN Industries (Thailand) Company Limited
• GZI Industries Limited
• Olayan Group
• Bangkok Can Manufacturing
• Nampak Ltd.
• Envases Group

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