The latest market report published by Credence Research, Inc. “Beer Cans Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the Beer Cans market was valued at US$ XX Bn in 2018 and expected to reach US$ XX Bn by 2027 at a CAGR of 3.5% throughout the forecast period from 2019 to 2027.
“Increasing demand for craft beer will spur revenue growth during the forecast period”
The rise in production and consumption of alcoholic beverages is driving the overall beer cans market growth. Nowadays, brand owners are increasingly introducing premium craft beers which have augmented the market by 3-4% and are increasingly using beer cans as an advertising tool. The rising consumption of craft beer in different regions coupled with increasing spending on research and development on the looks and convenience of the product are factors proliferating the demand of the market. Apart from this the recreational and environmental benefits offered by the product and increasing demand of BPA free cans are factors further boosting the demand of the beer cans market. However, the preference of customers for wine and other alcoholic beverages might hinder the market growth owing to increasing affordability of liquor and wine products.
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“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. Aluminum segment accounts for more than 60% of the volume sold globally. 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 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.
- In September 2018, Carlsberg announced its new Snap Pack, which is set to reduce plastic waste globally by more than 1200 tonnes a year, which is equivalent to 60 million plastic bags. The Snap Pack replaces the plastic wrapping and is used around Carlsberg’s six packs with a pioneering technology that glues its cans together.
Key Market Movements
- In 2018, the global paper bags market was valued US$ XX Bn and is projected to grow to US$ XX Bn by 2027 expanding at a CAGR of 3.5%.
- Based on capacity, the market is classified into 330 ml and 500 ml. Out of these 500 ml segment is leading the market with major contribution in the revenue share. This can be associated with huge consumption of the segment in restro-bars, taprooms, and pubs among others.
- In 2018, North America dominated the global beer can market. The rise in the consumption of beer coupled with BPA-free metal cans in the US are the key reason for regional dominance.
- In addition, rising concerns regarding the use and consumption of sustainable packaging materials are factors further boosting the market growth in the region.
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
Browse the full report at https://www.credenceresearch.com/report/beer-cans-market