Northbrook, IL 60062 -- (SBWIRE) -- 01/16/2024 -- The "Beverage Cans Market by Material Type, Beverage Type, Structure, & Region" report reveals a thriving industry, with a valuation of USD 23.7 Billion in 2021 expected to reach USD 31.2 Billion by 2026, showcasing a robust growth rate of 5.6%. North America stands as a dominant force, driven by the increased production of alcoholic beverages and the demand for premium can packaging solutions.

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The non-alcoholic beverage segment takes the lead in market dominance, fueled by the rising production of carbonated soft drinks. A surge in consumer demand for sports and energy drinks further propels the non-alcoholic beverage market globally.

The 2-piece structure segment emerges as the fastest-growing, offering lightweight and stackable features that optimize shelf space. Continuous advancements in packaging technology, such as seamless can bodies and improved printing options, position 2-piece cans to replace their 3-piece counterparts, supporting a high global growth rate.

Aluminum takes the spotlight in material type, projecting the largest growth in the beverage can market. Its cost-effectiveness and versatile properties, allowing for customization with colors, 3D prints, and embossing, position aluminum as the preferred material. Convenience in storage, both in fridges and ovens, further contributes to its popularity.

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The Asia Pacific region is anticipated to experience the fastest growth, with countries like China and India significantly contributing to the surge. High population density and leading fruit production make these nations key drivers for the demand for beverages like juices and functional drinks in the region.

Key market players shaping this industry include Crown Holdings Inc., ArdaghGroup S.A., CPMC Holdings Limited, Toyo Seikan Group Holdings Ltd., Can-One Berhad, Can-Pack S.A, Ball Corporation, Envases Universales, Universal Can Corporation, Interpack Group Inc., GZ Industries, Showa Denko K.K, Swan Industries Limited, Nampak Bevcan Limited, The Olayan Group, and Techpack Solutions Pvt Limited.

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