Chicago, June 13, 2022 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, The report “Beverage Cans Market by Material Type (Aluminium, Steel, and PET), Beverage Type (Alcoholic Beverages, Non-Alcoholic Beverages, and Water), Structure (2-Piece and 3-Piece), & Region (NA, APAC, EUR, SA, and RoW) - Global Forecast to 2026”, was valued at USD 23.7 Billion in 2021 and is projected to reach USD 31.2 Billion by 2026, expanding at a growth rate of 5.6% during the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226901632
The population and income are growing in tandem with the increase in health and hygiene concerns. These factors are projected to drive the demand for beverages and, in turn, will provide business opportunities to beverage can manufacturers. According to the United Nations Food and Agriculture Organization, the world is projected to witness a population of more than 9 billion by 2050, up from 6.9 billion in 2010. With the rise in population, there is also an increase in pressure on limited resources, resulting in the over-exploitation of resources and ultimately leading to environmental degradation. This has been a key factor that has promoted the usage of cans in the rigid packaging format as it is 100% recyclable and can be used multiple times for multiple purposes.
Rapid urbanization is significantly impacting commercial, residential, and agricultural areas. Urbanization has led to changes in consumer lifestyles. With the increase in workload and busy lifestyles, the time to keep residential and working space environment friendly has been a key concern. This has resulted in higher consumption of energy or functional drinks across formats that are easier to carry and can be stored for a longer period without hampering the nutritional value. This has further contributed to the growth of the beverages in can-based formats.
Browse in-depth TOC on "Beverage Cans Market"
250 – Tables
54 – Figures
230 – Pages
Key Players & COVID-19 Impact
The global beverage cans market is dominated by large-scale players such as Crown Holdings Inc. (Philadelphia, US), Ardagh Group S.A, (Luxemburg), CPMC Holdings Limited (China), Toyo Seikan Group Holdings Ltd. (Tokyo, Japan), Can-One Berhad (Malaysia), Can-Pack S.A (Poland), Ball Corporation (Colorado, US), Envases Universales (Spain), Universal Can Corporation (Tokyo, Japan), Interpack Group Inc. (China), GZ Industries (Nigeria), Showa Denko K.K (Tokyo, Japan), Swan Industries (Thailand) Limited (Thailand), Nampak Bevcan Limited (South Africa), The Olayan Group (Saudi Arabia), and Techpack Solutions Pvt Limited (Seoul, South Korea).
Reports on how the Covid-19 outbreak is affecting supply chains and disrupting manufacturing operations around the world are increasing daily. It was seen that the peak of the impact of Covid-19 on global supply chains would occur in mid-March, forcing thousands of companies to throttle down or temporarily shut assembly and manufacturing plants in the US and Europe. The most vulnerable companies are those that rely heavily or solely on factories in China for parts and materials. The activity of Chinese manufacturing plants has fallen in the past month and is expected to remain depressed for months. Many analyses compare the current epidemic with the 2002-2003 SARS epidemic, which created just a blip in the global financial markets. This comparison is dangerous because of the relative importance of China in the overall manufacturing industry. The beverage cans market, which involves the production of 2-piece and 3-piece cans, is also getting affected due to gaps in the supply chain, which can be deadly for the industry. However, the increasing demand for retail products in beverages will continue manufacturers to come up with strong inventories and stock for future demand, as well.
Purchase Report Today: https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=226901632
Related Reports:
Food & Beverage Metal Cans Market by Material (Aluminum and Steel), Type (2-Piece and 3-Piece), Degree of Internal Pressure (Pressurized Cans and Vacuum Cans), Application (Food and Beverages), and Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/food-cans-market-251.html
Pet Food Packaging Market by Material Type (Paper & Paperboard, Plastic, Metal), Packaging Form (Bags, Cans, Pouches, Boxes/Cartons), Food Type (Dry Food, Wet Food, Pet Treats), Animal Type (Dog, Cat, Fish, Bird), Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/pet-food-packaging-market-150550375.html
Browse Adjacent Reports: Food and Beverage Market Research Reports & Consulting
