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The United States dominates the global drink cans market with around 15.7% share. Drink can sales across the USA are set to rise at a significant pace through 2033. The United States drink cans market size reached US$ 8,496.6 million in 2022.
Rising consumption of beverages, especially alcoholic ones, is driving demand for drink cans in the USA. The global drink cans market will expand at a CAGR of 7.7% from 2023 to 2033. It is set to reach US$ 56,891.1 million in 2023. By the end of 2033, the global market will cross a valuation of US$ 119,208.6 million.
The United States is the leading market for metal beverage cans, with the utmost per capita consumption of cans in the world. Demand is driven by increased consumption of soft drinks and beer. These beverages are being served in metal cans such as aluminum.
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Increased recycling of used beverage cans will boost the USA market. Rising demand for optimal utilization of natural resources has prompted companies to reuse metals in the United States.
Metal recycling is heavily supported by government agencies such as the United States government, which mandate the replacement of used cans. Besides, the metal recycling market is likewise expected to benefit from municipal recycling programs launched in the United States.
According to the International Aluminum Association, the United States today collects double the amount of aluminum for recycling than it did in 1980s. The global average recycling rate for aluminum cans is around 60%. But in the United States, the recycling rate exceeds around 90%. This will positively influence drink can sales across the USA.
Key Takeaways from the Drinks Can Market
“Rising demand for durable and safe packaging solutions will boost drink can sales in the USA. Besides this, implementation of stringent food safety regulations will bode well for market.” says an FMI Analyst.
Competition Landscape in the Drinks Can Market
Key companies are introducing novel products with eco-friendly and sustainable features. Acquisitions, collaborations, and partnerships are other strategies employed by manufacturers.
Prominent players active in the United States drinks can market are Novelis Inc., Ball Corp., Crown Holdings Inc., and Silgan Holdings Inc.
Recent Developments
Further, shifting consumer preference towards sustainable and eco-friendly packaging has led to a spike in demand for packaging solutions that can be recycled. One of the most recycled packaging format is drink cans. Recycling doesn’t degrade the quality of metal as drink cans made from aluminum/ steel are completely recyclable, which makes this process profitable to manufacturers.
Moreover, in comparison to other conventional packaging formats, drink cans do not pose threat to the environment, as most of it gets recycled. During the process of recycling drink cans produce negligent amount of carbon footprint, adhering to the environment policies.
Factors such as recyclability, client specific customization, and increasing demand for small quantity beverage containers is anticipated to continue fueling sales of drink cans through 2031.
“Increasing emphasis on light weight and environment-friendly packaging solutions, along with the introduction of 3D printing technology for can manufacturing is expected to augment growth of the global drink cans market over the forecast period,” says an FMI analyst.
Key Takeaways:
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Competitive Landscape
Novelis Inc., Ball Corp., Crown Holdings Inc., Silgan Holdings Inc. are top players operating in the drink cans market. Furthermore, SHOWA DENKO K.K., Toyo Seikan Group Holdings Ltd., CPMC Holdings Inc., and CAN Pack S.A. are also noticeable players in the drink cans market. The 3-tier players in the market hold 50-60% of the global drink cans market. Key players are expected to account for almost 30-40% of the global drink cans market share over the forecast period.
Leading players operating in the global drink cans market are investing in strategic collaborations and acquisitions to expand their product portfolios and global footprint. For instance:
What is the Impact of the COVID-19 Crisis on Drink Cans Market?
During the unprecedented COVID-19 pandemic, supply chains and production activities were hampered to an extent. Though lockdowns were enforced, partial or complete, manufacturing, and export-import of necessities and materials continued. The World Bank has estimated a loss of US$ 10 Trillion in earnings during the pandemic.
Disruptions in manufacturing and supply of drink cans also had a negative impact on growth of the market, affecting medium and small scale companies by hampering profit margins. This has resulted in an overall loss of over -2.6% of market value in 2020.
However, increasing sales of food and beverages post-pandemic are expected to provide impetus to growth of the drink cans market. In addition to this, growing demand for convenient and eco-friendly packaging solutions from the beverage industry will continue fueling sales of drink cans through 2031.
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Drink Cans Market – Competitive Landscape
Companies operating in the drink cans market are aiming at expansions and strategic partnerships with other manufacturers to expand their product manufacturing capabilities, product portfolio and global presence. For instance:
Drink Cans Market by Category
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