Report : Europe Beverage Metal Cans Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material (Aluminum and Steel), and Application (Carbonated Soft Drinks, Alcoholic Drinks, Fruit and Vegetable Juices, and Others)
At 5.2% CAGR, the Europe Beverage Metal Cans Market is speculated to be worth US$ 9,848.03 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe Beverage Metal Cans market was valued at US$ 7,267.80 million in 2022 and is expected to reach US$ 9,848.03 million by 2028, registering an annual growth rate of 5.2% from 2022 to 2028. The report provides trends prevailing in the Europe Beverage Metal Cans market along with the drivers and restraints pertaining to the market growth. High consumption of carbonated soft drinks is the major factor driving the growth of the Europe Beverage Metal Cans market.
Carbonated soft drinks are made to suit consumers' tastes and flavor preferences, and they also serve as functional beverages for health-conscious consumers. Carbonated soft drinks have grown in popularity among consumers due to the continuous launch of new flavors by manufacturers. The increased demand for clean-label, gluten-free, low-calorie, and low-carb goods has increased the demand for carbonated soft drinks. Metal cans are widely used as a packaging material for carbonated soft drinks. This increased demand for carbonated soft drinks fuels The Europe beverage metal cans market growth.
Consumers expect newly launched soft drinks to be free of long-term health-damaging ingredients and actively promote physical and mental fitness. Low-sugar soft drinks and products with stress-relieving effects are anticipated to remain popular among consumers. The trend of healthy beverages has grown in popularity as the functional beverage industry has expanded and customers' health consciousness has increased. The easy availability of low or zero-calorie beverages in the market, such as at Walmart and convenience stores, has propelled the consumption of carbonated soft drinks.
However, issues associated with increasing use of biodegradable plastic packaging to Beverage Metal Cans the growth of Europe Beverage Metal Cans market.
Based on material the Europe Beverage Metal Cans market is bifurcated into aluminum and steel. The aluminum segment held 48.86% market share in 2022, amassing US$ 3,551.34 million. It is projected to garner US$ 5,148.02 million by 2028 to expand at 6.4% CAGR during 2022–2028.
Based on application the Europe Beverage Metal Cans market segmented into carbonated soft drinks, alcoholic drinks, fruit and vegetable juices, and others. The alcoholic drinks segment held 50.44% market share in 2022, amassing US$ 3,665.70 million. It is projected to garner US$ 4,765.52 million by 2028 to expand at 4.5% CAGR during 2022–2028.
Based on country, the Europe Beverage Metal Cans market segmented into Germany, France, Italy, U.K., Russia and Rest of Europe. Our regional analysis states that Germany captured 24.32% market share in 2022. It was assessed at US$ 1,767.53 million in 2022 and is likely to hit US$ 2,451.17 million by 2028, exhibiting a CAGR of 5.6% during the forecast period. .
Key players dominating the Beverage Metal Cans market are Ball Corporation, Crown Holdings,Inc; Ardgh Group S.A, CANPACK, Orora Packing Australia Plt.Ltd; Amcor plc, SHOWA DENKO K.K and Envases Group are among the leading companies in the Europe Beverage Metal Cans market.
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