The United States stands out as a lucrative drink cans market due to its substantial market size, valued at $8,496.6 million in 2022, with a 15.7% market share. Stringent FDA regulations, particularly Section 416, emphasize the need for safe and durable food and beverage packaging, driving demand for drink cans. Additionally, the U.S. is a prominent hub for exporting both non-alcoholic and alcoholic beverages, reinforcing the consistent growth of drink can sales through 2033.
The Global Drink Cans Market is experiencing robust expansion, with an estimated value of US$56,891.1 million in 2023, projected to surge at a 7.7% CAGR, reaching US$119,208.6 million by 2033. Fueled by increasing beverage consumption, encompassing soft drinks, alcoholic beverages, and energy drinks, the demand for drink cans is propelled by their convenience and portability, catering to modern consumers’ busy lifestyles.
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Moreover, the market gains traction from the escalating emphasis on sustainability, driven by rising environmental awareness and the need to minimize plastic waste. Drink cans are emerging as a preferred, recyclable packaging choice, aligning with eco-conscious consumer preferences.
The United States is the leading market for metal beverage cans, with the utmost per capita consumption of cans in the world. Demand is driven by increased consumption of soft drinks and beer. These beverages are being served in metal cans such as aluminum.
Increased recycling of used beverage cans will boost the USA market. Rising demand for optimal utilization of natural resources has prompted companies to reuse metals in the United States.
Metal recycling is heavily supported by government agencies such as the United States government, which mandate the replacement of used cans. Besides, the metal recycling market is likewise expected to benefit from municipal recycling programs launched in the United States.
According to the International Aluminum Association, the United States today collects double the amount of aluminum for recycling than it did in 1980s. The global average recycling rate for aluminum cans is around 60%. But in the United States, the recycling rate exceeds around 90%. This will positively influence drink can sales across the USA.
Key Takeaways
- The global drink cans market is set to reach US$ 56,891.1 million in 2023.
- The United States market for drink cans reached US$ 8,496.6 million in 2022.
- Currently, the United States holds around 7% share of the global market.
- High consumption of alcoholic beverages and rising demand for safe packaging will boost the USA 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 the 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.
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Recent Developments
- In January 2023, the RYL Company launched a ready-to-drink tea to promote ‘Lil Polyphenol Technology’. This is a unique formula and method that consistently delivers 200 mg of tea polyphenols in each can.
- In February 2023, FC Dallas announced a multi-year partnership. This makes Coca-Cola the Official Soda and Bottled Water Partner of FC Dallas, FC Dallas Academy, North Texas SC, and FC Dallas Youth.
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.
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:
- In 2021, Ardagh Group’s Mississippi beverage can manufacture unit has been awarded 2020 carbon emission award from Tennessee Valley Authority. Also, company proposed merger of its beverage can business with Gores Holding V Inc.
- In 2021, Ball Corporation planned to build a new aluminum can plant Near Pilsen, Czechia. Last year company also completed the acquisition of Tubex Aluminum Packaging Business located in Brazil.
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Drink Cans Market by Category
By Capacity:
- Up to 200 ml
- 201 – 450 ml
- 451 – 700 ml
- 701 – 1000 ml
- More than 1000 ml
By Product Type:
- 1 – Piece Cans
- 2 – Piece Cans
- 3 – Piece Cans
By Content:
Alcoholic Beverages
-
- Beer
- Wine
- Spirits
- Others Alcoholic Beverages (Cider, etc.)
Non-Alcoholic Beverages
-
- Carbonated Drinks
- Tea & Coffee
- Juices
- Soft drinks
- Dairy Drinks
- Soda
- Other Beverages (Energy & Sports drinks, Electrolytes, etc.)
By Region:
- North America
- Latin America
- Europe
- MEA
- East Asia
- South Asia
- Oceania
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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