Key Market Insights
"Increase consumption of beer cans will spur the market revenue growth"
The global beer cans market accounted for US$ XX Bn in 2021 and is anticipated to grow to US$ XX Bn growing at a CAGR of 3.5% during the forecast period from 2023 to 2030.
Increasing consumption of craft beer across various regions coupled with recreational and environmental benefits are major factors driving the beer cans market growth. Customers are inclined towards craft beer brewed by both small and large breweries. The increasing production of craft beers globally is proliferating the demand for the beer cans market, especially aluminum cans. According to Brewers Association, in the US, in 2018, the production of craft beers accounted to be 25.9 Mn barrels as compared to 25.1 Mn barrels in 2017.
Beer cans offer a combination of benefits including easy transportability, and recyclability among others. The recreational and environmental benefits offered such as cans are permitted at many places whereas bottles are not in areas including beaches, pools, parks, campgrounds, and boats among others. Additionally, beer cans are 100% recyclable and can be recycled indefinitely.
Material Type Analysis
"Aluminum segment to dominate the market throughout the forecast period"
The aluminum segment accounted for the highest share in the market in 2021 owing to its lightweight, high molding abilities, and increasing production of craft beers among others. The 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 the 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.
Capacity Analysis
"500 ml segment expected to dominate the market during the forecast period"
Based on capacity, 500 ml accounted for the major share of more than 60% in the global beer can market in 2021. The 500 ml or 16 ounces or larger segment had the largest share in the global beer can market owing to the availability of premium and economy brands in places such as convenience stores, pubs, and clubs among others. The 500 ml segment had the highest share due to increasing demand for beer cans in taprooms, and brewpubs worldwide. Changing consumer preferences and increasing young population in emerging regions such as Asia Pacific, Latin America, Middle East, and Africa are further expected to support the segment growth during the forecast period.
On the other flip, the 330 ml segment is expected to expand at a rapid pace owing to the growing demand for alcohol among millennials. The increasing demand from emerging economies of Asia Pacific including China, and India among others due to rapid urbanization and the presence of major alcoholic manufacturers such as United Breweries, Carlsberg, B9 Beverages (Bira 91), among others in the region.
Regional Analysis
"Rising urbanization to bolster the growth in the Asia Pacific region"
The Asia Pacific is projected to expand at a rapid pace during the forecast period owing to the changing cultural trends, rising urbanization, growing population, and popularity of beer among youth in the region A shift in consumer preference for gluten-free beer coupled with growing innovations in flavors and preparation are driving the demand of beer which in turn is boosting the demand for beer cans market. For instance, Heineken an Amsterdam-based company bought a stake in Bangalore-based United Breweries, which is India’s one of the largest beer manufacturers. This, in turn, offers high growth potential for the beer packaging industry in the country and bolsters the demand for the beer cans market.
List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Beer Cans market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Billion |
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Key questions answered in this report
