The beverage can end market is expected to reach a worth of US$ 1.4 Bn in 2022 and grow at a CAGR of 5% to reach US$ 2.3 Bn by the year 2032, according to data from Future Market Insights. The market for beverage can ends is expected to grow, with the top 3 nations expected to control between 25 and 30 percent of it by the end of 2022.
By the end of 2022, it is anticipated that the pull tab beverage can ends sector, by product type, would account for around 53% of the market value. The reason for this is consumers’ strong preference for beverage can ends of the highest calibre across a range of products.
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The Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Beverage Can Ends
With rising environmental concerns and the implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Beverage Can Ends market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Beverage Can Ends Market Takeaways and Projections
- The U.S. is expected to lead the North America Beverage Can Ends market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Report Benefits & Key Questions Answered
- Beverage Can Ends Historical Market Analysis: The detailed survey by FMI, examines key factors in the Beverage Can Ends market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Beverage Can Ends market for the forecast period 2022-2032.
- Beverage Can Ends Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Beverage Can Ends for the assessment period. As per the study, the demand for Beverage Can Ends will grow at a robust CAGR between 2022 and 2032.
- Beverage Can Ends Market Trend Analysis: The latest study by FMI on the Beverage Can Ends market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Beverage Can Ends market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Beverage Can Ends Market By Category
By Material Type, Beverage Can Ends Market is segmented as:
- Aluminum
- Steel
- Tin
By Product Type, Beverage Can Ends Market is segmented as:
- Pull Tab
- Stay-on-tab
- Full Aperture
By Application, Beverage Can Ends Market is segmented as:
- Alcoholic Beverages
- Non-alcoholic Beverages
By Region, Beverage Can Ends Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East & Africa (MEA)
- Oceania
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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