The overwhelming consumption o various beverage drinks is prompting the expansion of the Beverage Cans Market 2020. The packaging & transport industry reports are created by Market Research Future, which emphasizes on market choices for expansion. The market is poised to grow at a steady CAGR in the forecast period.
The reliance on beverage refreshments in almost every social gathering has prompted the surge in their demand and is estimated to spur the beverage can market in the coming period. Moreover, the surge in packaging innovation is estimated to prompt the development of the market for beverage cans in the forecast period.
The segmentation of the beverage cans market has been conducted based on applications, materials, and regions. The material, basis of segmenting the beverage cans market has been divided into steel and aluminum. The application-based segmentation of the beverage cans market consists of alcoholic beverages, carbonated soft drinks, fruit & vegetable juices, and others. Based on regions, the market for beverage cans has been segmented into Europe, Asia Pacific, North America, and the rest of the world.
The development of the market is contingent on the delicate balance of the forces of demand and supply. The consumers in the market are well aware of their requirements and how the market can meet them. The enrichment of the sources of supply is allowing the market players to create products that can be successful in the market effectively. The collaboration of competitors in this market is expected to give way to new developments and novel product launches. The availability of advantageous policies and regulations by trade bodies and governments is expected to hasten the growth of the market in the projected period. The improved economic state of the companies is expected to lead to better research and development trials and activities in the impending period. The upgradation in production capacity is estimated further to accelerate the market expansion in the upcoming period.
The well-known companies in the beverage cans market are Kian Joo Can Factory Berhad (Malaysia), HUBER Packaging Group GmbH (Germany), Orora Packaging Australia Pty Ltd (Australia), Toyo Seikan Group Holdings, Ltd. (Japan), BWAY Corporation (U.S.), CPMC Holdings Ltd. (China), Crown Holdings Incorporated (U.S.), Ball Corporation (U.S.), Silgan Holdings Inc. (U.S.), Ardagh Group (Luxembourg), and Can-Pack SA, (Poland).
Detailed Regional Analysis
The regional examination of the beverage cans market has been segmented into regions such as Europe, Asia Pacific, North America, and rest of the world. The North American region has established itself as the leading player in the beverage cans market. The surge in mounting demand for metal cans in the region is principally motivating the augmentation of the market. Furthermore, the mounting concern regarding employment and the use of sustainable packaging materials is likely to impel the demand for market development. The European region has emerged as another chief market for the beverage cans. The countries of the U.K., Germany, and France are the key markets in the region. The greater than before recycling actions undertaken by the regulatory bodies is estimated to enhance the market growth further. The Asia Pacific region is anticipated to develop at the highest CAGR for the period of the forecast. The major markets of Japan, China, Australia, India, and Indonesia in the Asia Pacific region are projected to enhance the market. The amplification in buying power in the region is encouraging the augmentation of the market. Moreover, the easier availability of raw materials and reduced labor fee are exerting a positive influence on the market augmentation.
Mar 2020 Crown Holdings has declared that it will construct a novel beverage can production facility in Kentucky, USA, to sustain augmented demand for beverage cans in the region of North America. The site will provide beverage cans to firms serving an assortment of categories such as energy drinks, hard seltzers, sparkling water, carbonated soft drinks, nutritional beverages, teas, craft beers, and cocktails.
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