According to a report, “Beverage Cans Market Analysis By Product (Aluminum, Steel), By Application (Carbonated Soft Drinks, Alcoholic Beverages, Fruit & Vegetable Juices), By Region (North America, Europe, Asia Pacific, Latin America, MEA) And Segment Forecasts, 2018 – 2024” , published by Grand View Research, Inc., The global beverage cans market size is expected to reach USD 60.92 billion by 2024. Owing to increasing demand for compact beverage packaging solutions.
Increasing demand for energy drinks and canned cold coffee and iced tea in Europe and Latin America is expected to drive growth over the forecast period. Increasing consumption of canned beverages in major sports tournaments such as Major League Baseball, Barclays Premier League and La Liga owing to increased convenience in handling the beverage is expected to propel the demand for beverage cans over the forecast period.
Key Takeaways from the report:
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Carbonated soft drinks application segment is expected to witness the highest growth of over 5% from 2016 to 2024 owing to growing demand for the aerated drinks in developing economies such as India, Mexico, and Thailand
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High demand for beverage cans in the distribution of fruits & vegetable juices is expected to have a positive impact on growth. Rise in consumption of packaged fruit juices owing to consumers leading a healthier lifestyle is expected to propel demand.
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Asia Pacific is expected to register a CAGR growth of over 5% from 2016 to 2024 owing to increased demand for carbonated soft drinks, energy drinks and sports drinks owing to increasing disposable income in the developing economies such as China, India, and Indonesia
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The major players in the industry adopt mergers and acquisitions as a key strategy for increasing the market presence. Crown Holdings Inc. acquired EMPAQUE; a leading aluminum can manufacturer in Mexico to expand its market share in the region.
U.S. beverage cans market volume, by application, 2013 – 2024 (Billion Units)
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Global beverage cans market share, by product, 2015 (%)
Increasing demand for carbonated soft drinks and other flavored soda drinks in North America is expected to positively influence the demand for metal cans over the forecast period. In addition, the growth is expected to be driven by extensive promotional programs undertaken by soft drink manufacturers such as Coca-Cola is expected to have a positive impact on market growth.
Grand View Research has segmented the global beverage cans market on the basis of product, application and region:
Product Outlook (Volume, Million cans; Revenue, USD Million, 2013 – 2024)
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Aluminum
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Steel
Application Outlook (Volume, Million cans; Revenue, USD Million, 2013 – 2024)
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Carbonated Soft Drinks
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Alcoholic Beverages
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Fruit & Vegetable Juices
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Others
Regional Outlook (Volume, Million cans; Revenue, USD Million, 2013 – 2024)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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France
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UK
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Russia
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Spain
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Asia Pacific
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China
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India
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Australia
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Latin America
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Brazil
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Middle East & Africa
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South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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