RALEIGH, North Carolina, Feb. 21, 2019
RALEIGH, North Carolina, Feb. 21, 2019 /PRNewswire/ --The global market for beverage cans (bevcans) is expected to grow at a CAGR of 3 - 4 percent until 2021, according to Beroe Inc, a procurement intelligence firm. The beverage cans industry is anticipated to see extraordinary development from the beer and energy drinks section in the next five years.
The demand for beverage cans is expected to grow the highest in Asia and MEA at a CAGR of 4 - 5 percent until 2022, and Asia alone is expected to grow at 5 - 6 percent CAGR, to nearly 131 billion units in 2021. There is a growing consumption of CSD (carbonated soft drinks) and beer in developing markets such as China, the Middle East, and India. However, a decline is observed in the CSD segment, which has a CAGR of -1 to 0 percent in the developed regions of NA and EU, which would influence the demand for a beverage can.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com
On the consumer end, the changing lifestyle of people and the increasing inclination for on-the-go food and drinks option acts as a major driver for the beverage can industry. On the supplier end, the lightweight feature of beverage cans has led to improved sustainability and a significant reduction in transportation and material costs.
Aluminum cans are increasingly seen as a sustainable packaging option due to their recyclability feature. Brazil and Japan have high recycling rates of about 98.2 percent and 82.5 percent respectively, with other markets also following the trend.
The research methodology adopted for the report included:
The bevcan industry is consolidated with the supply base where only 4 players are controlling more than 80 percent of the market. This makes it difficult for smaller beverage manufacturers to utilize bevcans and they may prefer plastic bottles to increase their bargaining leverage.
The report also includes:
Industry Best Practices:
About Beroe Inc.:
Beroe's unique business model involves providing market intelligence and analytics to the procurement teams of businesses across the globe. Beroe leverages its deep domain expertise in 300 + categories across 14 industries. It boasts of more than 80 of the Fortune 500 companies as its clients.
To learn more about Beroe Inc, please visit http://www.beroeinc.com