Report : South & Central America Beverage Metal Cans Market Forecast to 2028 - COVID-19 Impact and Analysis– by Material (Aluminum and Steel), and Application (Carbonated Soft Drinks, Alcoholic Drinks, Fruit and Vegetable Juices, and Others)
At 6.2% CAGR, the South & Central America Beverage Metal Cans Market is speculated to be worth US$ 2,660.59 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America Beverage Metal Cans market was valued at US$ 1,859.05 million in 2022 and is expected to reach US$ 2,660.59 million by 2028, registering an annual growth rate of 6.2% from 2022 to 2028. The report provides trends prevailing in the South & Central America Beverage Metal Cans market along with the drivers and restraints pertaining to the market growth. Growing demand for canned cocktails and sparkling wines is the major factor driving the growth of the South & Central America Beverage Metal Cans market.
Demand for canned cocktails and sparkling wines is increasing among people. Canned cocktail and sparkling wine manufacturers have taken the initiative to provide consumers with high-quality canned drinks which are convenient to drink and free of airborne contaminants. Consumers in developed countries have grown more health-conscious and choose low-alcohol flavored beverages. Manufacturers typically include a modest percentage of alcohol, ranging from 4% to 12%, and additional flavors such as lemon, cranberry, orange, and passion fruit, attracting health-conscious customers. As a result, low alcohol by volume (ABV) beverages has gained popularity. Consumers' preference for beverages in convenient packaging is projected to expand the reach of canned alcoholic beverages in the coming years and support market growth.
However, issues associated with increasing use of biodegradable plastic packaging to Beverage Metal Cans the growth of South & Central America Beverage Metal Cans market.
Based on material the South & Central America Beverage Metal Cans market is bifurcated into aluminum and steel. The aluminum segment held 89.51% market share in 2022, amassing US$ 1,664.06million. It is projected to garner US$ 2,404.05 million by 2028 to expand at 6.3%CAGR during 2022–2028.
Based on application the South & Central America Beverage Metal Cans market segmented into carbonated soft drinks, alcoholic drinks, fruit and vegetable juices, and others. The alcoholic drinks segment held 54.39% market share in 2022, amassing US$ 1,011.17 million. It is projected to garner US$ 1,392.56 million by 2028 to expand at 5.5% CAGR during 2022–2028.
Based on country, the South & Central America Beverage Metal Cans market segmented into Brazil, Argentina and Rest of South & Central America . Our regional analysis states that Brazil captured 45.70% market share in 2022. It was assessed at US$ 849.58 million in 2022 and is likely to hit US$ 1,300.76 million by 2028, exhibiting a CAGR of 7.4% during the forecast period. .
Key players dominating the Beverage Metal Cans market are Ball Corporation, Crown Holdings,Inc; Ardgh Group S.A, CANPACK, Amcor plc, and Envases Group are among the leading companies in the South & Central America Beverage Metal Cans market.
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