The global beverage cans market revenue is expected to expand at a lucrative CAGR over the forecast period. Growing consumption of alcoholic beverages such as beer which require cooling at a specific temperature for enhanced taste is expected to boost market growth.
The global beverage cans market report has been segmented on the basis of process, application, and region.
On the basis of process, the global beverage cans market has been segmented into aluminum and steel. Penetration of steel segment is expected to grow over the forecast period. However, fluctuating prices of raw materials coupled with complexity in the manufacturing of steel cans are expected to hamper market growth.
On the basis of application, the global beverage cans market has been segmented into alcoholic beverages, carbonated soft drinks, fruit & vegetable juices, and others (sports & energy drinks). Fruit & vegetable juices segment is expected to witness steady growth over the forecast period. Growing demand for fruit & vegetable juices owing to rising concerns regarding personal health is anticipated to drive beverage cans market.
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On the basis of region, the global beverage cans market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe market is expected to grow at a rapid pace over the forecast period. Growing demand for beverage cans owing to easier storage and portability of cans in various events is anticipated to drive market growth. Moreover, growing consumption of alcoholic beverages in the region is expected to fuel market growth over the forecast period.
Key players operating in the global beverage cans market include Ball Corporation, Crown Holdings, Inc., Tetra Laval International S.A., Orora Packaging Australia Pty Ltd., Silgan Holdings Inc., Ardagh Group S.A., Mahmood Saeed Beverage Cans & Ends Industry Company Limited, CPMC Holdings Limited, Silgan Holdings Inc., and Can-Pack S.A.