Beverage Cans Market growing at a CAGR of 5.5% from 2024 to 2030

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In addition, high recycling rate of aluminum cans and superior physical properties of metals over its alternatives is expected to drive the growth of beverage cans market during the forecast period.

Beverage cans offer exceptional convenience and portability, making them an attractive choice for on-the-go consumption. They are lightweight, easy to carry, and resealable, allowing consumers to enjoy their beverages at their convenience. This aspect is particularly appealing to urban populations with busy lifestyles and a preference for convenient packaging solutions. For instance, energy drink manufacturers have leveraged the portability of cans to cater to active consumers who demand readily available beverages during their workouts or outdoor activities.

In addition, the recyclability of beverage cans has become a significant driving factor due to the increasing environmental consciousness among consumers and companies. Aluminum cans are highly recyclable and can be recycled repeatedly without losing their quality, making them a sustainable packaging option. Many beverage companies are actively promoting their use of cans as part of their sustainability initiatives, appealing to eco-conscious consumers. For instance, in June 2023, Marlish Waters Ltd, a UK-based drinks company, launched a new 150 ml can format for its tonics and mixers beverage range. This new format is glass-free and made of aluminum, which is infinitely recyclable, cheaper, and easier to recycle than glass. The launch focused on four of the brand’s most popular SKUs including English Tonic Water, Premium Lemonade, Ginger Ale, and Soda Water.

Beverage cans offer a unique canvas for eye-catching designs and branding opportunities. Companies can leverage the 360-degree printable surface of cans to create visually appealing and distinctive packaging that stands out on retail shelves. This aspect is particularly important in the craft beer and flavored alcoholic beverage segments, where unique and creative can designs have become a key differentiator in the market.

Moreover, collaborations and agreements between raw material suppliers and beverage cans manufacturers are expected to foster innovation and drive new product development in the beverage cans market. For instance, in January 2024, Novelis, a major sustainable aluminum solutions provider and the global player in aluminum rolling and recycling, entered into a new agreement with Ardagh Group S.A., a global supplier in sustainable aluminum beverage packaging solutions. Under the contract, Novelis will supply aluminum beverage packaging sheets to Ardagh’s metal production facilities in North America.

Market Concentration & Characteristics 

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

Companies are increasingly pursuing diversification strategies, expanding their product and service offerings to capitalize on cost and revenue synergies. This approach often involves strategic initiatives such as mergers and acquisitions among companies operating in the beverage cans market. For instance, in October 2023, Crown Holdings, Inc. completed the acquisition of Helvetia Packaging AG, a beverage can and end manufacturing facility in Saarlouis, Germany. Through the acquisition, Crown assumes Helvetia’s existing customer base and accompanying contracts, as well as 200 current employees. The addition of the facility expands Crown’s European beverage can platform into Germany and adds approximately one billion units of annual capacity, helping to serve the growing customer demand for infinitely recyclable beverage cans.

Beverage Cans Market Report Scope