Report : North America 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 4.8% CAGR, the North America Beverage Metal Cans Market is speculated to be worth US$ 15,872.65 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America Beverage Metal Cans market was valued at US$ 12,003.05million in 2022 and is expected to reach US$ 15,872.65 million by 2028, registering an annual growth rate of 4.8% from 2022 to 2028. The report provides trends prevailing in the North America Beverage Metal Cans market along with the drivers and restraints pertaining to the market growth. Recyclable metal cans are the major factor driving the growth of the North America Beverage Metal Cans market.
The adoption of reusable packaging has expanded among consumers in response to rising environmental concerns. Metal cans can be reused several times without compromising the material's quality. Furthermore, the need to reduce the usage of traditional plastic packaging has increased the demand for reusable metal packaging. This has also prompted large market participants, such as Ball Corporation, to provide circular delivery services to replace single-use throwaway packaging with durable and reusable metal cans. In addition, food and beverage firms are collaborating with metal can manufacturers to offer products in reusable metal containers.
However, issues associated with increasing use of biodegradable plastic packaging to Beverage Metal Cans the growth of North America Beverage Metal Cans market.
Based on material the North America Beverage Metal Cans market is bifurcated into aluminum and steel. The aluminum segment held 96.93% market share in 2022, amassing US$ 11,634.30 million. It is projected to garner US$ 15,447.97 million by 2028 to expand at 4.8% CAGR during 2022–2028.
Based on application the North America Beverage Metal Cans market segmented into carbonated soft drinks, alcoholic drinks, fruit and vegetable juices, and others. The alcoholic drinks segment held 38.84% market share in 2022, amassing US$ 4,661.43 million. It is projected to garner US$ 5,750.34 million by 2028 to expand at 3.6% CAGR during 2022–2028.
Based on country, the North America Beverage Metal Cans market segmented into US, Mexico, Canada. Our regional analysis states that US captured 74.08% market share in 2022. It was assessed at US$ 8,891.86million in 2022 and is likely to hit US$ 11,604.49 million by 2028, exhibiting a CAGR of 4.5% 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, Silgan Containers LLC, SHOWA DENKO K.K and Envases Group are among the leading companies in the North America Beverage Metal Cans market.
• In Jul-2021 CANPACK announces the partnership with the Academy of the Future, which aims at helping young people better reach their potential, maximize their talents, and embrace new opportunities.
• In Apr-2022 Crown holdings, Inc. will be constructing a new high-speed aluminum line at its Agoncillo, Spain beverage can facility. The company states that commercial production is expected to commence during the first quarter of 2023.