Beverage Cans Market
The Beverage Cans Market is anticipated to exhibit a growth rate of 4.7% over the forecast period. The changing lifestyles and accelerating per capita income have stimulated the growth of the market. Also, the adoption of alcoholic drinks in orthodox countries will bolster market growth.
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Beverage Cans Market Dynamics
The increasing inclination of consumers towards compact and insubstantial cans is a prime force stimulating the growth of the global beverage cans market. Also, the beverage cans have the ability to prevent the beverage from dust and heat, which will further strengthen the market size. The increasing consciousness of aluminium reprocessing is anticipated to bolster market growth. Aluminium can be recovered in an environment-friendly & economical manner as recycled aluminium demands only 5% of energy to make bare aluminium. Moreover, the augmentation in several industries such as energy drink and alcohol will bolster the market growth. In addition, the need to avoid imperishable items such as plastic for beverage cans due to the expensive and inefficient process of reusing plastic will elevate the Beverage Cans market size.
The increase in marketing activities by beverage producers for their latest products will raise the demand for beverage cans, thereby fuelling the market growth. For example, Ball in Germany introduced an eye-attracting print campaign with a smartphone-activated video clip. The campaign portrays the beverage can as a fancy packaging choice and fits for millennials.
However, the problem concerned with aluminium recycling as aluminium needs to be estranged from plastic steel & other debris, which is a time-demanding process that can hinder the market growth.
Regional Drivers
Based on the regional analysis, the North American region is anticipated to witness robust growth over the forecast period. The rise in the recycling of aluminium cans in this region has bolstered Beverage Cans market share. In accordance with the aluminium association, the recycling rate of beverage cans has risen from 45.1% in 2017 to 49.8% in 2018.
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