NEW YORK, March 10, 2021 /PRNewswire/ -- The global beverage can ends market is expected to grow by USD 438.78 million during 2021-2025, expanding at a CAGR of about 2%. Get a Free Sample Report Delivered Instantly
The report throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect.
Beverage Can Ends Market: Increased need for metal cans to drive growth
Metal cans are less prone to breakage during transit. They can be used in fast-processing environments under various temperatures as they remain unaffected when compared to plastic packaging, which, when exposed to heat or higher temperature, changes shape. Also, metal cans provide better hermetic seals and restrict the flow of gases. With the growing global consumption of beverages such as beer, soft drinks, ready-to-drink tea and coffee, and juices, the demand for metal cans will increase over the forecast period. These factors are expected to fuel the growth of the global beverage can ends market.
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As per Technavio, the growing energy and juice drinks market will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Beverage Can Ends Market: Growing Energy and Juice Drinks Market
Growing health awareness has increased consumer inclination toward juices over carbonated drinks. Also, the rising number of diabetics across the world has increased the demand for energy drinks and juice drinks that are free from added sugar, artificial flavors, and preservatives. To capitalize on this growing trend, beverage manufacturers are introducing a wide range of energy drinks and juice drinks with different varieties and flavors. This is leading to an increase in the demand for beverage cans, which is fueling the growth of the market.
"Increased demand for sustainable packaging solutions and the rising consumption of on-the-go foods will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Beverage Can Ends Market: Segmentation Analysis
This market research report segments the beverage can ends market by Material (Aluminum and Steel) and Geography (North America, APAC, Europe, South America, and MEA).
The North America region led the beverage can ends market in 2021, followed by APAC, Europe, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the rising consumption of juices, RTD tea and coffee, and energy drinks in the region.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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Website: www.technavio.com/
Report: www.technavio.com/report/beverage-can-ends-market-industry-analysis
SOURCE Technavio
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