A beverage can is a metal container that is used to pack liquid-based drinks like soft drinks, fruit drink, and alcohol-based beverages. Beverage cans are made of aluminum or tin-plated steel. Drink cans have a plastic or wax inner covering to protect the content to react with the metal used in the can. Drink cans are preferred in various industries due to its features including easy and convenient packaging material and easy to carry and open the packages. In addition, the drink cans are safer and hygienic than conventional glass and plastic bottles. Innovations in the drink can industry has led to leak-poof and lightweight aluminum cans that are easily carried.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in the application in the food & beverage industry and rise in demand for the clean, hygienic container to keep the drink fresh as when packed fuels the growth of the drink can industry. Moreover, a rise in awareness against plastic and non-recyclable product by government and NGOs worldwide drives the global drink can industry. In addition, many countries banned plastic products, which have made drink manufacturers shift to aluminum and steel cans. However, high manufacturing cost of drink cans and the availability of cheap substitutes like glass restricts the market growth. Contrarily, investments in new products and low-cost manufacturing process and ban of plastic fosters the growth of the global drink can market.
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The global drink can market trends are as follows:
New product launches to flourish the market
The launch of new products that contain improved capabilities has been launched by leading market players. They have taken necessary steps to improve the cooling capacity of the cans as well as graphic designs and uses of the can as a glass. Crown’s Reveal Inks has a new set of drink cans that tend to keep the drink cooler for a longer period as well as the graphics on the can changes as the customers consume the drink and the temperature of the drink changes. These cans were used by Coco-Cola during the launch of Coke Zero to engage the customers toward the new product.
The surge in usage in alcoholic and fruit drink packaging
Manufacturers have been focusing on producing new products for specific applications as there are varying demands based on utilization. Leading market players have determined how improved cooling and features in a container can attract the customer more towards the brand. Some brands of beer found out that customers prefer the particular brand of beer, which will keep the drink cooler for a longer time. Moreover, the beer companies have customized the cans such that these turn into a glass when the above lid is pulled out.
COVID-19 Scenario Analysis:
There has been a huge demand for aluminum cans from the beverage industry as these can are more hygiene and one time usable. Manufacturers are facing difficulties due to lockdown and are lacking in raw material and labor, which is leading to a halt in production.
Top Key Players: Amcor Plc, Akshar Products, Ardagh Group SA, Ball Corporation, CAN, PACK SA, CPMC Holdings Ltd., Crown Holdings Inc., ORG Technology Co. Ltd., Orora Packaging Australia, Pty Ltd., Silgan Holdings Inc., and Toyo Seikan Group Holdings Ltd
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