Near 5% growth in beverage can market
According to Fortune Business Insights, the global beverage cans market size is expected to reach USD 36.59 billion by 2027, exhibiting a CAGR of 4.7% during the forecast period.
The report states that the growing adoption of alcoholic beverages in underdeveloped and conservative countries can simultaneously bolster the healthy growth of the industry. The market size stood at USD 25.31 billion in 2019.
According to the report, “The rising urbanisation, coupled with the growing population are factors expected to boost the growth of the market. The increasing disposable income in developing countries has led to high consumer spending on beverages, which, in turn, will propel the market growth. Brand preference has played an essential role in spurring the demand for beverages in developing countries, thus boosting the market growth.
“The growing knowledge about sustainable and recyclable beverage packaging among consumers will consequently improve the demand for metal cans in the forthcoming years. Moreover, shifting lifestyle choices and increasing health consciousness will fuel demand for healthy and nutritious drinks, hence favoring the business of beverage cans.”
For more, visit: https://www.fortunebusinessinsights.com/beverage-cans-market-104706