The global beverage cans market size to reach USD 60.92 billion by 2024

According to a recently published market research report by Grand View Research Inc., the global beverage cans market size is expected to reach USD 60.92 billion by 2024. The growth is driven mostly by increasing demand for compact beverage packaging solutions worldwide.

Over the forecast period, demand for energy drinks, canned cold coffee and iced tea in Europe and Latin America are expected to grow significantly driving the beverage can market boom. Consumption of canned beverages gets a major boost during big sports tournaments like Major League Baseball, Barclays Premier League and La Liga because of handling convenience.  This is expected to propel the demand for aluminium beverage cans in these countries causing an export boom from the can producing countries.


North America is a major consumer of carbonated drinks and other flavoured soda drinks and during the forecast period, the country is expected to influence the demand for aluminium cans significantly.  Aggressive promotion by soft drink manufacturers such as Coca-Cola is also expected to have a positive impact on the beverage cans market growth.

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Other key findings from the report are:

• Carbonated soft drinks application segment is expected to witness the highest growth of over 5% from 2016 to 2024 as a result of growing demand in developing economies such as India, Mexico, and Thailand
• Growing consciousness for a healthier lifestyle and the resulting rise in consumption of packaged fruit juices are expected to propel high demand for beverage cans in the juice packaging segment.
• Europe beverage cans market that was worth about USD 9 billion in 2015 is expected to grow at a CAGR of over 4% from 2016 to 2024 due to increased recycling drives undertaken by European Commission and national governments of France, Germany, and UK.
• Asia Pacific to register a CAGR growth of over 5% from 2016 to 2024 due to increasing disposable income in countries like China, India, and Indonesia  and the resulting rise in demand for carbonated soft drinks, energy drinks and sports drinks.
• Mergers and Acquisitions was a key strategy for increasing the market volume and it will continue to play a significant role in the forecast period.
• Crown Holdings Inc. acquired EMPAQUE; a leading aluminium can manufacturer in Mexico to expand its market share in the region.